AMSC lands another wind deal in China
CHINA - American Superconductor AMSC has landed initial wind turbine electrical control system orders from China's third largest wind turbine manufacturer, Dongfang Turbine.
The electrical components will be used in DTC's 3MW and 5MW full conversion wind turbines, which were jointly designed and developed by AMSC. Shipments will begin this year, but won't be shipped in larger quantities until next year. No word on the financials of the deal or exactly how many systems would be shipped.
"A powerhouse in China's growing wind power market, DTC has partnered with AMSC to introduce its next-generation wind turbines," said Greg Yurek, founder and chief executive officer of AMSC. "Having been designed for use both on land and at sea, DTC's 3 MW wind turbine has broad applicability while its 5 MW turbine is particularly well suited for the global offshore wind market. We are pleased to receive these initial orders and are happy to support DTC as they launch these advanced wind turbine platforms."
Shares of AMSC are up a couple percent today and continue to hang in around critical support around the $25 level. I believe AMSC represents one of the best green stock plays down at current levels, but it may be a bit too early to jump in just yet.
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