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 … Read the rest
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Kaufman Bros Upgrades AMSC, Raises Price Target On Sinovel News
Last night American Superconductor (AMSC) announced a big $100 million follow on order from Sinovel and Kaufman Bros likes the news. The firm is upgrading the stock from Hold to Buy and raising the price target to $36.
Hat tip to StreetInsider.com for the following analyst comment:
“Yesterday AMSC announced its largest customer, Sinovel, had placed a follow-on order for $100 million in electronics for its new 3MW wind turbine. The electronics will ship beginning … Read the rest
American Superconductor (AMSC) Gets $100 Million Follow On Sinovel Contract
American Superconductor (AMSC) has landed another contract from China’s largest wind turbine company Sinovel. This time it’s a big one – $100 million to be exact. AMSC will supply Sinovel core electrical components for its 3MW wind turbines and begin shipping in March of next year.
“Over the course of the past four years, Sinovel has transformed from start-up mode into China’s largest wind turbine manufacturer,” said Greg Yurek, founder and chief executive officer … Read the rest
American Superconductor (AMSC) Forms AMSC Korea To Capitalize On Growing Opportunity In Wind Energy & Smart Grids
American Superconductor is forming AMSC Korea to accelerate a push into a growing market for wind energy and power grids. The new HQ will reside in Busan, South Korea and house engineering, sales, biz development and field support for AMSC customers which currently include LS Cable, KEPCO, KEPRI, KERI, Doosan Heavy Industries and Hyundai Heavy Industries.
Dan McGahn, senior VP of AMSC, said, “The country is investing billions of dollars to bolster its power grid … Read the rest
Brean Murray Initiates AMSC, ENOC With Buy; COMV, ELON At Hold
Brean Murray has initiated coverage on four green stocks this morning. American Superconductor (AMSC) and EnerNOC (ENOC) get Buy ratings from the firm while Echelon (ELON) and Comverge (COMV) get Hold ratings.
Hat tip to StreetInsider.com for the following analyst comments:
“Buoyed by an experienced management team and strong wind energy market growth in China, AMSC’s revenues grew from $52 million in FY06 to $183 million in FY08. With a continuation of the current wave … Read the rest
American Superconductor (AMSC) Announces New China Smart Grid Order, Distribution Partner
American Superconductor (AMSC) has received a 2nd order for its D-VAR system for a Chinese smart grid and will deliver it to China National Machinery Industry Complete Engineering (note to China: shorten your company names!) by the end of this year. CMCEC will use the D-VAR to meet local grid interconnection requirements for Phase 1 of the Guanting Wind Farm which is ultimately expected to provide 150MW of wind power once completed. Furthering AMSC’s push … Read the rest
American Superconductor (AMSC) Receives Wind Turbine Electrical Order From Hyundai
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 … Read the rest
American Superconductor (AMSC) Smashes Estimates, Issues Strong Guidance
More good news on AMSC. I reported last night that they have increased the size of their contract with Sinovel. This morning, American Superconductor (AMSC) reported another very strong quarter, smashing estimates on both EPS and revenue. The company posted .12/share on the EPS side vs the expectations for a flat quarter on revenues of $73 million (83% increase over year ago quarter), better than $12 million ahead of the estimate. It’s also increasing … Read the rest
American Superconductor (AMSC) Amends Sinovel Contract To Meet Increasing China Wind Energy Demand
American Superconductor (AMSC) announced this evening that they are increasing their shipments to China’s largest wind turbine manufacturer Sinovel in order to meet increased demand. The amended contract will increase the number of AMSC’s PowerModule PM3000MW power converters which allows Sinovel to include grid friendly features with its wind turbines, such as controlling power flows, regulating voltage, monitoring system performance and maximizing efficiency. The overall contract value increases by $20 million for AMSC.
“Sinovel has … Read the rest
American Superconductor Corporation (AMSC) Nets $12 Million In DOE Funding
American Superconductor Corporation just announced that it has received $12 million in funding from the US Department of Energy. The funding comes from the American Recovery and Reinvestment Act and will fund smart-grid related projects. Here’s a breakdown:
$4.8 million to wrap up development of a three-phase 138 kilovolt (kV) fault current limiter (FCL) using the company’s 344 superconductors and low-inductance coil technology developed by Siemens.
$7.6 million to help complete phase II of AMSC’s … Read the rest