AMSC Receives $8M Wind Turbine Electrical Control System Order From Inox Wind
Portfolio Pulse from Benzinga Newsdesk
AMSC has received an $8 million order for 3 MW class wind turbine electrical control systems from Inox Wind. The order is a follow-on, with immediate delivery requested, and shipments expected throughout 2024. This order reflects the growing Indian wind market, where AMSC has been active for over a decade. AMSC's 3 MW class wind turbine design is certified to operate up to 3.3 MW under specific conditions, and under an exclusive license agreement, AMSC will be the sole ECS supplier for Inox's 3 MW class wind turbine in India.
January 16, 2024 | 1:25 pm
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AMSC has secured an $8 million order from Inox Wind for its 3 MW class wind turbine electrical control systems, indicating a positive outlook for the company's revenue and market presence in India.
The $8 million order from Inox Wind is a significant revenue opportunity for AMSC and demonstrates the company's continued partnership and market penetration in India. The immediate delivery request suggests a strong demand for AMSC's products, which could positively influence the company's stock price in the short term. The exclusivity of the agreement further strengthens AMSC's position in the market.
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IMPORTANCE 85
RELEVANCE 100