American Superconductor Corporation has received $4.6 million of new orders for D-VAR systems for regulating voltage at wind farms in Australia, Canada, New Zealand and the United Kingdom. These orders are expected to enable AMSC's Power Electronic Systems business unit to achieve its forecasted 50% growth in revenues for the fiscal year ending March 31, 2007.
Greg Yurek, chief executive office of American Superconductor, said, "Our PowerModule and D-VAR technologies are proving to be 'must-have' solutions for wind farms around the globe, enabling operators to regulate voltage to optimize the operation and output of individual wind turbines while also allowing owners to meet the increasingly stringent standards for interconnection of wind farms to power grids."
According to the Global Wind Energy Council (GWEC), the total installed base of wind-generated electricity worldwide was 59,084 MW as of 2005, with 11,531 MW having been installed in 2005. An additional 13,100 MW is slated for installation in 2006. GWEC estimates that the market size will more than double to 134,800 MW by the year 2010.