AMSC Receives $445 Million Wind Power Order From Sinovel

American Superconductor Corporation (NASDAQ: AMSC), a global wind energy technologies company, today announced that it has received a new multi-year wind energy order worth approximately US$445 million (excluding value added tax) from Sinovel Wind Group Co., Ltd., the world’s third largest wind turbine manufacturer.

Under the terms of the agreement, AMSC will begin shipping core electrical components for Sinovel’s 1.5 megawatt (MW) wind turbines (branded the SL1500) in early 2011. Shipments under the new contract will span a period of 30 months. AMSC is currently shipping 1.5 MW wind turbines core electrical components under a multi-year contract that extends through early 2011.

“We are proud to extend our strategic business alliance with Sinovel, which has proven consistently to be a leader in wind turbine technology,” said Greg Yurek, founder and chief executive officer of AMSC.

“Since starting up production in 2006, Sinovel has grown more rapidly than any wind turbine manufacturer in the world. This new order will support Sinovel’s continued production of SL1500s. At the same time, Sinovel plans to increase production of its 3 MW wind turbines, which are installed and operating in China’s first offshore wind farm and also being marketed for onshore applications.

In addition, Sinovel expects to install its 5 MW wind turbine prototype by the end of 2010. These higher power systems, which Sinovel developed utilizing AMSC Windtec™ designs, are also equipped with AMSC’s power electronics.”

Industry research firms MAKE Consulting and BTM Consult recently issued reports ranking Sinovel as the world’s third largest wind turbine manufacturer based on its market share in 2009. The company increased its shipments from approximately 1,500 MW in 2008 to approximately 3,900 MW in 2009.

Sinovel has publicly stated its intention to become the world’s largest wind turbine manufacturer within five years.

According to a March 2010 report from MAKE Consulting, China installed more than 13,000 MW of wind power in 2009. MAKE expects that China will increase its total amount of grid-connected wind power from approximately 19,000 MW at the end of 2009 to approximately 130,000 MW by the end of 2015.

AMSC’s core electrical components include the company’s proprietary PowerModule™ PM3000W power converter and enable reliable, high-performance wind turbine operation by controlling power flows, regulating voltage, monitoring system performance and controlling the pitch of wind turbine blades to maximize efficiency.

Sinovel Wind Group Co., Ltd. is the first high-tech enterprise in China engaged in independently developing, designing, manufacturing and marketing large-scale onshore/offshore series wind turbines that can adapt to different wind zones and environment. Headquartered in Beijing, Sinovel has manufacturing bases in China’s Dalian, Jiangsu, Inner Mongolia and Gansu Provinces, etc. Sinovel specializes in the R&D, design, manufacturing and sales of a variety of wind turbines. 

American Superconductor (NASDAQ: 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 renewable 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.

American Superconductor and design, Revolutionizing the Way the World Uses Electricity, AMSC, Powered by AMSC, D-VAR, dSVC, PowerModule, PQ-IVR, PQ-SVC, Secure Super Grids, SuperGEAR, SeaTitan and, Windtec and design are trademarks or registered trademarks of American Superconductor Corporation or its subsidiaries.