AMSC Receives Wind Turbines System Order from Korea’s Doosan Heavy Industries

American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, today announced that it has received an initial order worth more than $10 million for wind turbine electrical control systems from South Korea’s Doosan Heavy Industries & Construction Co., Ltd. (Doosan). The systems will be utilized in Doosan’s onshore and offshore 3 megawatt (MW) full conversion wind turbines. AMSC will be shipping the electrical control systems to Doosan between the middle of calendar year 2011 and the middle of calendar year 2012.

Doosan is the seventh customer to place a volume production order for wind turbine electrical control systems or components with AMSC over the past 12 months. Doosan’s 3 MW pilot model has been in operation at Korea’s Jeju Island since October 2009.

“Doosan has decades of experience in the power and offshore arenas, which will serve them well as they grow their green energy business globally,” said Greg Yurek, founder and chief executive officer of AMSC. “With the offshore wind market in Asia now entering a phase of rapid growth, we expect multi-megawatt wind energy systems such as Doosan’s WinDS3000 will be in increasingly high demand.”

Global offshore wind energy accounted for only 2 gigawatts (GW) of the world’s 158 GW of wind power installed at the end of 2009, according to industry research firm IHS Emerging Energy Research (EER). However, this nascent market is forecasted to enter a period of rapid and prolonged growth, with installations rising sharply to 104 GW by 2025. In November 2010, South Korea announced a new US$10.5 billion project to develop 2.5 GW of offshore wind resources.

Established in 1962 as Korea’s first domestic power plant builder, Doosan Heavy Industries & Construction has been leading the advancement of Korea’s plant technology, fully equipped with an integrated production and supply system, from basic materials to finished products. Doosan has so far built over 300 nuclear, thermal, combined cycle and hydro power plants, and is currently building more than 60 power plants globally. Doosan is a major engineering, procurement, and construction (EPC) contractor in the world market, providing services that include engineering design, basic material fabrication, equipment installation, commissioning, and facility construction. Doosan has completed substantial power plant projects across the world including the Middle East, India, and Southeast Asia.

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.