AMSC Receives Four D-VAR® Orders for Wind Farms on Three Continents
-Wind Farms in Australia, Canada and the United Kingdom to Utilize AMSC's Grid Interconnection Solution
-Market for Grid Interconnection Solutions Expanding With Growth in Worldwide Installed Base of Wind Power
-Company to Host "Connecting With the Wind(TM)" Exhibit at WINDPOWER 2008 Conference & Exhibition in Houston
DEVENS, Mass.--(BUSINESS WIRE)--May 20, 2008--American
Superconductor Corporation (NASDAQ: AMSC), a leading energy
technologies company, today announced that it has received orders for
its D-VAR® solution for grid interconnection of wind farms located
in Australia, Canada and the United Kingdom. The wind farms will
utilize wind power systems from three different global wind turbine
manufacturers.
The D-VAR systems, which will provide voltage support for more than 200 megawatts (MW) of aggregated power, will be delivered to all four wind farms within the next 12 months. AMSC now has an installed base and orders for solutions to serve approximately 7,350 MW of wind power worldwide, an increase of more than 120 percent over the past 12 months.
AMSC's proprietary D-VAR systemsenable wind farm developers to meet the national and provincial requirements adopted in many countries for connecting wind farms to power grids. AMSC customers utilize D-VAR grid interconnection solutions to provide voltage regulation and power factor correction, along with post-contingency assistance to prevent voltage collapse on the power grid.
"Our D-VAR solutions are being used around the world to safely connect wind farms to electric power grids," said Chuck Stankiewicz, executive vice president and general manager of AMSC Power Systems. "These solutions mitigate voltage instabilities at wind farms to enable wind farm owners and operators to meet dramatically varying grid interconnection requirements around the world. This ensures the quality of the power being delivered to customers and in many cases improves the reliability of the local power grid."
Worldwide wind power capacity increased 27 percent in 2007 to more than 94 gigawatts (GW), according to a Global Wind Energy Council (GWEC) report issued in April 2008. The global wind energy market, according to the report, is expected to grow an additional 155 percent to 240 GW of total installed capacity by 2012.
In addition to the D-VAR® grid interconnection solution, AMSC offers a range of proprietary products and services for the growing wind power market. From June 1-4, 2008, the company will host a "Connecting With the Wind" exhibit at the WINDPOWER 2008 Conference & Exhibition organized by the American Wind Energy Association. The event will be held at the George R. Brown Convention Center in Houston, TX. The exhibit, located at booth # 1452, will feature the company's full suite of solutions for the wind industry ranging from the D-VAR solution to AMSC Windtec turbine designs and consulting services and wind turbine electrical components that utilize the company's proprietary PowerModule power converter.
To learn more about AMSC's product offerings for the wind industry, please visit .
About American Superconductor (NASDAQ: AMSC)
AMSC is a leading energy technologies company offering an array of solutions based on two proprietary technologies: programmable power electronic converters and high temperature superconductor (HTS) wires. The company's products, services and system-level solutions enable cleaner, more efficient and more reliable generation, delivery and use of electric power. AMSC is a leader in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems. As the world's principal supplier of HTS wire, the company is enabling a new generation of compact, high-power electrical products, including power cables, grid-level surge protectors, Secure Super Grids technology, motors, generators, and advanced transportation and defense systems. AMSC also provides utility and industrial customers worldwide with voltage regulation systems that dramatically enhance power grid capacity, reliability and security, as well as industrial productivity. The company'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.
American Superconductor and design, Revolutionizing the Way the World Uses Electricity, AMSC, Powered by AMSC, SuperVAR, D-VAR, DVC, PQ-IVR, PowerModule, Secure Super Grids and Windtec are trademarks or registered trademarks of AMSC.
Any statements in this release about future expectations, plans and prospects for the company, including statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements. Such factors include: uncertainties regarding the company's ability to obtain anticipated funding from corporate and government contracts, to successfully develop, manufacture and market commercial products, and to secure anticipated orders; the risk that a robust market may not develop for the company's products; the risk that strategic alliances and other contracts may be terminated; the risk that certain technologies utilized by the company will infringe intellectual property rights of others; the competition encountered by the company, including several large Japanese companies. Reference is made to these and other factors discussed in the "Management's Discussion and Analysis of Financial Condition and Results of Operation" section of the company's most recent quarterly or annual report filed with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the company's views as of the date of this release. While the company anticipates that subsequent events and developments may cause the company's views to change, the company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the company's views as of any date subsequent to the date this press release is issued.
CONTACT: American Superconductor Corporation (NASDAQ: AMSC)
Jason Fredette, 978-842-3177
Director of Investor & Media Relations
jfredette@amsc.com
SOURCE: American Superconductor Corporation
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