AMSC inks $2M wind energy contract
American Superconductor Corp. (AMSC), a Westboro company specializing in high temperature superconductor (HTS) wires and power electronic systems, signed a wind energy system development contract worth over $2 million with Doosan Heavy Industries & Construction Co. of South Korea.
AMSC's wholly-owned subsidiary, Windtec, will develop a 3 megawatt wind energy system for Doosan and support the assembly and installation of the first prototype. Doosan plans to launch series production of the system in late 2009.
Additional terms of the contract call for Windtec to have right of first refusal for all future 3MW wind turbine electrical systems from Doosan, representing a potential follow-on business opportunity for Windtec. The contract is the first 3 megawatt system development contract for Windtec, as well as its first entry into the South Korean renewable energy market.
In November of '06, AMSC acquired Windtec. Read more by clicking here.
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