American Superconductor (AMSC) To Supply Nations Largest Energy Hub, Tres Amigas

The Tres Amigas Project will be the nation’s first renewable energy market hub, which aims to connect 3 main power grids in the US (Eastern, Western & Texas Interconnections), allowing for a faster adoption of wind, solar and geothermal energy.  American Superconductor (AMSC) will be a big beneficiary in the nation’s move to an updated, smarter power grid.  The company is announcing this morning that it will buy a minority stake in Tres Amigas LLC as well as supply the wire and cable systems for the Tres Amigas SuperStation which will be constructed in Clovis,New Mexico.  The project still has a bit of red tape to clear before construction can begin.

AMSC’s superconductor wiring and cable systems will comprise several miles and provide the transfer of many GW’s of renewable energy power across the US, Canada and Mexico.  Yes, this is big news not only for AMSC, but for the nation as well.  AMSC CEO Greg Yurek called it a tremendous opportunity to help unify the US power grid and achieve the nation’s energy goals.

Said the CEO of Tres Amigas LLC,”To truly open up the market for electricity generated from renewable sources of energy we must enhance transmission in the United States. Tres Amigas will serve as a renewable energy market hub by connecting all three of America`s power grids to enable the transfer of green power from region to region. The system will also add a new dimension of reliability and security for U.S. power supplies.”

After opening up to a high of $34/share, AMSC shares are well off their highs at under $33/share.

Leave a Reply

Your email address will not be published. Required fields are marked *