AMSC Announces D-VAR® System Orders for the Electric Grid in Australia
May 09 2016 - 8:00AM
AMSC, a global energy solutions provider serving wind and power
grid industry leaders, today announced new orders for multiple
sites for D-VAR® STATCOM systems to support Australia’s electric
grid. Under the terms of the order, the systems will be installed
in one of the Company’s target markets, the electric utility
sector, and will be used by the utilities to ensure high network
performance and provide stability for the grid. Revenue from this
D-VAR® order is expected to be recognized over the next four
quarters.
“To date, we have had great success deploying our D-VAR products
into Australia for interconnectivity and industrial applications.
We are pleased to see our D-VAR products now being integrated by
electric utilities in Australia for voltage stability and power
capacity in their power transmission network. The system we
designed for Essential Energy utilized our 4MVAR building blocks
which allowed for optimal placement of units across multiple sites
providing a total of 20 MVAR of dynamic voltage support to over
300km of lines on their 132kV transmission system,” said Daniel P.
McGahn, President and CEO, AMSC. “AMSC’s D-VAR products have proven
worldwide to address a range of voltage stability issues and
increase the power transfer capacity of utility networks.”
AMSC’s D-VAR systems stabilize and regulate voltage and power
factor on electric utilities’ transmission and distribution
networks. The system detects and rapidly compensates for voltage
disturbances by injecting leading or lagging reactive power at key
points on the electric grid. Each D-VAR product is tailored to meet
specific customer requirements and accommodates changing grid
conditions.
Customers utilize AMSC's D-VAR solutions to provide dynamic
voltage control, power factor correction, and post-contingency
reactive compensation to stabilize the power grid and prevent
undesirable events such as voltage collapse. 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. The D-VAR system is designed to be able to detect and
instantaneously compensate for voltage disturbances by dynamically
injecting leading or lagging reactive power into the power
grid.
About AMSC (NASDAQ:AMSC) 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. The Company’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.
AMSC, Windtec, Gridtec, D-VAR and Smarter, Cleaner … Better
Energy are trademarks or registered trademarks of American
Superconductor Corporation. All other brand names, product names,
trademarks, or service marks belong to their respective
holders.
Forward-Looking Statements
Statements in this press release that are not strictly
historical in nature constitute “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. Such statements include, but are not limited to,
statements regarding our expectations that revenue from this D-VAR
order will be recognized over the next four quarters; and about the
performance of our D-VAR systems. Such forward-looking statements
represent our current expectations and are inherently uncertain.
Actual results may differ materially from what we expect because of
various risks and uncertainties, including the risks that revenue
from this D-VAR order may not be recognized over the next four
quarters; and that our D-VAR systems may not perform as expected.
These and the important factors discussed under the caption "Risk
Factors" in Part 1. Item 1A of our Form 10-K for the fiscal year
ended March 31, 2015, and our other reports filed with the SEC,
among others, could cause actual results to differ materially from
those indicated by forward-looking statements made herein and
presented elsewhere by management from time to time. Any such
forward-looking statements represent management's estimates as of
the date of this press release. While we may elect to update such
forward-looking statements at some point in the future, we disclaim
any obligation to do so, even if subsequent events cause our views
to change. These forward-looking statements should not be relied
upon as representing our views as of any date subsequent to the
date of this press release.
AMSC Contact:
Brion D. Tanous
CleanTech IR, Inc.
Phone: 978-842-3247
Email: Brion.Tanous@amsc.com
American Superconductor (NASDAQ:AMSC)
Historical Stock Chart
From Apr 2024 to May 2024
American Superconductor (NASDAQ:AMSC)
Historical Stock Chart
From May 2023 to May 2024