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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POSITIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100