American Superconductor Corp.: Contract to Develop 5 Megawatt Wind Turbines
AMSC Signs Contract to Develop 5 Megawatt Wind Turbines with China's Dongfang Turbine Co. Ltd.
AMSC Windtec Expands Relationship With China's Third Largest Wind Turbine ManufacturerDongfang to Begin Production of AMSC Windtec-Designed 2.5 Megawatt Wind Turbines in 2010Production of New 5 MW Full Conversion Turbines Scheduled for 2012
DEVENS, Mass., Jan 05, 2010 -- American Superconductor Corporation, a global power technologies company, announced today that its wholly-owned AMSC Windtec(TM) subsidiary has signed a follow-on contract with Dongfang Turbine Co. Ltd. ("Dongfang") to design and jointly develop 5 megawatt (MW) full conversion wind turbines for the offshore wind power market.
Dongfang is one of China's top machinery companies. The company entered the wind power market in 2004 and shipped more than 800 wind turbines with a 1.5 MW power rating in 2008, making it the country's third largest wind turbine manufacturer. Dongfang will soon commission its first prototype 2.5 MW wind turbine designed under a prior agreement with AMSC Windtec and will enter volume production of these wind turbines in the second half of 2010.
"Dongfang has firmly established itself as a top manufacturer of wind turbines for the Chinese market and has aggressive plans to enter the global market with cutting-edge technologies," said Wang Wei Min, vice general manager and chief engineer of Dongfang. "We are happy to expand our relationship with AMSC and add this higher-power, full conversion wind turbine to our portfolio to help meet the growing demand for clean, wind-generated electricity."
Dongfang has exclusive rights to the 5 MW full conversion wind turbine designs in China and plans to begin supplying the wind turbines for the worldwide offshore market in 2012. AMSC has the right of first refusal to supply the core electrical components for Dongfang's 5 MW wind turbines.
"Dongfang already has established itself as one of China's largest wind turbine manufacturers and is poised for strong growth in 2010 and beyond as it introduces its new 2.5 MW in the second half of this year and its 5 MW wind turbines in the next two years," said Greg Yurek, founder and chief executive officer of AMSC. "We are particularly pleased to see more and more of our customers become repeat customers for new wind turbine designs. It is a validation of our advanced wind turbine technologies and signals more growth for our customers and AMSC going forward."
At the end of calendar year 2008, the global wind energy market had a total installed capacity of 120 gigawatts (GW). Industry research firm Emerging Energy Research (EER) projects the global installed base to grow to over 600 GW by 2020. EER predicts China's total installed wind power capacity will increase from 12 GW at the end of 2008 to more than 200 GW by 2020. EER estimates the global offshore wind power market will grow from its current total installed capacity of 1.5 GW to 41.5 GW in 2020.
To learn more about AMSC's product offerings for the wind industry, please visit http://www.amsc.com/products/applications/windEnergy/index.html.
About Dongfang Turbine Co. Ltd.
Established in 1966, Dongfang Turbine Co. Ltd. is a subsidiary of Dongfang Electric Corporation, China's largest provider of power generating equipment and power generating stations. Dongfang Turbine Co. Ltd had more than 7,000 staff members and over RMB 12 billion capital assets by the end of 2008. The company's annual sales volume exceeds RMB 10 billion. More information is available at http://www.dfstw.com/index.aspx.
About American Superconductor (NASDAQ: AMSC)
AMSC offers an array of proprietary technologies and solutions spanning the electric power infrastructure - from generation to delivery to end use. The company is a leader in alternative energy, providing proven, megawatt-scale wind turbine designs and electrical control systems. The company also offers a host of Smart Grid technologies for power grid operators that enhance the reliability, efficiency and capacity of the grid, and seamlessly integrate renewable energy sources into the power infrastructure. These include superconductor power cable systems, grid-level surge protectors and power electronics-based voltage stabilization systems. AMSC's technologies are protected by a broad and deep intellectual property portfolio consisting of hundreds of patents and licenses worldwide. More information is available at www.amsc.com.
SOURCE: American Superconductor Corporation
Jason Fredette, 978-842-3177
Director, Corporate Communications