American Superconductor (AMSC) Receives Wind Turbine Electrical Order From Hyundai

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02:17:19 pm on August 18, 2009

American Superconductor (AMSC) has received an initial order for 17 sets of electrical systems for wind turbines from Hyundai Heavy Industries.  South Korea based HHI is the country’s largest shipbuilder and is looking to tap into the wind energy business by partnering with AMSC.  The company has licenses for AMSC’s 1.65 and 2MW wind turbine designs and plans to use the electrical components purchased today for use in the 1.65MW doubly fed induction turbines.

Said the AMSC CEO:

“HHI installed and commissioned its first reference 1.65 MW wind turbine near its manufacturing facility in Ulsan, South Korea in June 2009. The company expects it will soon receive Germanischer Lloyd certification, and it plans to begin shipping wind turbines to customers by the end of 2009.  With production set to begin in their new wind turbine factory in Gunsan, South Korea this fall, we look forward to receiving additional orders from HHI as they ramp up from their initial production platform.”

AMSC is trading up over 5% today.

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