Tuesday, May 20, 2008

AMSC lands new wind farm power orders

By Mass High Tech

Executives at American Superconductor Corp. say the company has landed a new set of orders for its D-VAR grid interconnect products from wind farms located in Australia, Canada and the United Kingdom.

While financial terms of the deals were not provided, officials at Devens-based AMSC (Nasdaq: AMSC) said the products would provide voltage support for more than 200 megawatts of power. All of the products are expected to be delivered in the next 12 months.

AMSC’s D-VAR (Dynamic VAR) voltage regulation systems regulate voltage levels on power transmission grids and in industrial facilities.

With the new orders, AMSC boasts an install base serving approximately 7,350 megawatts of wind power worldwide, an increase of more than 120 percent over the past 12 months.

In its last reported year, ending in March 2007, American Superconductor reported a loss of $35 million on revenue of $52 million.

In its last three reported quarters (June 2007 through December 2007) the company saw its revenue increase from $19.8 million to $32.6 million and its losses narrow from $9.7 million to $7.3 million.