Broadwind Energy (BWEN) Wins $1.37 Million Contract From DOE

Shares of Broadwind Energy (BWEN) are spiking today on news the DOE has awarded the company a $1.37 million contract for the design and construction of a 5.8MW wind turbine gearbox for a new dynamometer at its National Wind Technology Center.  The facility provides the wind energy industry with customized testing with the dynamometer allowing companies to verify the performance and reliability of wind turbine drivetrain prototypes.

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“Broadwind is delighted to have been selected to design and produce this 5.8 MW wind turbine gearbox for the National Renewable Energy Laboratory,” said Daniel E. Schueller, president of Broadwind Energy’s Brad Foote Gear Works subsidiary. “With decades of experience in building precision gearing systems for the energy sector, Broadwind’s gearing team is uniquely positioned to support this wind turbine gearbox project.”

Technically, shares of BWEN have looked more bullish in recent months and today are attempting a breakout move above important resistance at the 200 day moving average.

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