AMSC Receives Turnkey D-VAR(R) Order for the North American Power Grid
-Basin Electric Power Cooperative Adopts D-VAR STATCOM to Further Enhance Power Grid Reliability in Wyoming
-At 34 MVAR Continuous Rating, Installation to be One of the Largest STATCOMs in North America
DEVENS, Mass.--(BUSINESS WIRE)--
Jan. 8, 2009--
American Superconductor Corporation (NASDAQ:
AMSC), a leading energy
technologies company, today announced that it has received an order for
its D-VAR ("STATCOM") reactive compensation solution from
Basin Electric
Power Cooperative (Basin Electric), one of the
largest electric generation and transmission cooperatives in the
United
States.
AMSC will deploy the turnkey D-VAR solution near Wright, Wyoming. Basin
Electric will utilize the D-VAR system to provide steady state and
transient voltage support to maintain transmission system stability and
reliability in the region. It will have a continuous rating of 34
mega-volt-amperes reactive (MVAR) and a short-term rating of 91 MVAR,
making it one of the largest STATCOMs ever deployed in the North
American transmission grid. The system is expected to be operational in
Basin Electric's power grid by the end of calendar 2009.
D-VAR reactive compensation systems are classified as Static
Compensators, or "STATCOMs," a member of the FACTS (Flexible
AC-Transmission System) family of power electronic solutions for
alternating current (AC) power grids. They are able to detect and
instantaneously compensate for voltage disturbances by dynamically
injecting leading or lagging reactive power into the power grid. AMSC
has received orders for over 60 STATCOM power grid solutions worldwide,
more than all other manufacturers combined. The company's STATCOM
customers include more than 20 electric utilities and 40 wind farms.
AMSC's D-VAR system was designed with flexibility in mind to address the
many voltage and VAR-related problems seen on the grid. Electric
utilities adopt these systems to avoid voltage collapse on transmission
and distribution lines, increase power transfer through
stability-limited systems, reduce the use of (or retire)
reliability-must-run generators and mitigate industrial voltage
transients. Wind farm developers adopt D-VAR solutions to meet the
stringent power grid requirements being adopted in an increasing number
of locations around the world for dynamic voltage regulation, power
factor correction and post-contingency assistance at wind farms.
To learn more about AMSC's D-VAR solution, please visit http://www.amsc.com/products/transmissiongrid/reactive-power-AC-transmission.html.
Basin
Electric Power Cooperative
Basin Electric is a consumer-owned, regional cooperative headquartered
in Bismarck, North Dakota. It generates and transmits electricity to 126
member rural electric systems in nine states: Colorado, Iowa, Minnesota,
Montana, Nebraska, New Mexico, North Dakota, South Dakota, and Wyoming.
These member systems distribute electricity to about 2.6 million
consumers. Learn more about Basin at http://www.basinelectric.com/
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
licensed wind turbine 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, D-VAR, PQ-IVR, PowerModule,
Secure Super Grids, Windtec and SuperGEAR are trademarks or registered
trademarks of American Superconductor Corporation or its subsidiaries.
Any statements in this release about future expectations, plans and
prospects for the company, including our expectations regarding the
future financial performance of the company and other 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; and the competition encountered
by the company. Reference is made to these and other factors discussed
in the "Risk Factors" 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
