AMSC (NASDAQ: AMSC), a global energy solutions provider serving wind and power grid industry leaders, today announced that it entered into an exclusive license agreement for a 3 megawatt (MW) class wind turbine design in India with Inox Wind Limited (Inox).
Under the terms of the license agreement, AMSC and Inox have agreed that AMSC will be the exclusive supplier of electric control systems (ECS) for Inox’s 3 MW class wind turbine. The terms and conditions of the ECS will be set forth in a separate ECS supply agreement between the parties.
“Inox was among the first manufacturers to produce 2 MW turbines locally, in volume, and quickly established a leadership position in the market based on performance and cost,” said Devansh Jain, director of Inox Wind Limited. “Leveraging our vertical approach, which combines best-in-class manufacturing with project development, the production of larger, more efficient 3 MW class turbines will give us the means to augment our market leadership. We remain committed to helping India bridge its power gap with high-performance wind turbines.”
Added Daniel P. McGahn, Chairman, President and CEO of AMSC, “This license agreement opens up the next chapter in our collaboration with Inox. Our 3MW turbine design extends Inox’s product line of 2 MW turbines to include 3 MW class turbines and enables the possibility of market expansion. We believe this will place Inox in a strategically competitive position.”
AMSC’s 3MW class wind turbine design is required to be certified as having a 3 MW power rating (according to GL2010 onshore guidelines). AMSC’s 3MW class wind turbine may operate up to 3.3 MW under certain grid conditions and certain ambient temperature conditions.
Inox Wind Limited is part of the Inox Group of Companies (Inox Group). Inox Group is a $2 billion+, professionally managed business group, with interests in diverse businesses including Industrial Gases, Refrigerants, Engineering Plastics, Chemicals, Carbon Credits, Cryogenic Engineering, Renewable Energy and Entertainment. The Inox Group employs close to 9,000 people at more than 150 business units across the country and has a distribution network that is spread across more than 50 countries around the globe. Each Inox Group company is characterized by three distinct characteristics – early identification of a winning business idea, building it to a size of dominant market leadership in that segment, and attaining a profit leadership position through cutting-edge efficiency in operations. The Inox Group, besides Inox Wind Limited, includes Inox Air Products Limited, Gujarat Fluorochemicals Limited, Inox India Limited, Inox Renewables Limited, Inox Leisure Limited and Fame India Limited.
AMSC generates the ideas, technologies and solutions that meet the world’s demand for smarter, cleaner … better energy™. Through its Windtec™ Solutions, AMSC provides wind turbine electronic controls and systems, designs and engineering services that reduce the cost of wind energy. Through its Gridtec™ Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency, and performance. AMSC’s solutions are now powering gigawatts of renewable energy globally and are enhancing the performance and reliability of power networks in more than a dozen countries. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe, and North America. For more information, please visit www.amsc.com.
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