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AMSC to invest $19M in New Energy Power System Orders

AMSC-to-invest-19M-in-New-Energy-Power-System-Orders

Today, leading system provider of megawatt-scale power resiliency solutions, AMSC, announced it will invest over $19 million on new energy power system orders. Accordingly, the Company will expand orders for AMSC’s D-VAR® STATCOM system, AMSC’s D-VAR VVO® system, and NEPSI metal enclosed capacitor banks and harmonic filters.

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Indeed, the orders will mainly serve the industrial and renewable energy sectors in the United States and abroad. Additionally, AMSC expects these systems to provide voltage regulation by responding to varying load conditions at various industrial settings. For instance, including semiconductor fabs and mining.

Besides, the orders also respond to varying load conditions while connecting wind power plants to the electric grid. Also, while connecting residential solar to the electric grid. Thus, the revenue from these orders is expected to be recognized in the fiscal year 2021.

Reception

In this sense, Daniel P. McGahn, Chairman, President, and CEO, AMSC, said, “We are seeing continued order traction as well as cross-selling opportunities in our new energy power systems business.”

In fact, “this includes our D-VAR and VVO offerings and our NEPSI business.” Continued Mr. McGahn. Thus, “we expect our Grid business to drive revenue growth again in fiscal 2021.”

About AMSC and its solutions

Currently, customers utilize AMSC’s solutions to provide voltage control, power factor correction, and reactive compensation to stabilize the power grid. They also use them to prevent undesirable events such as voltage collapse.

Accordingly, AMSC designs the systems to detect and instantaneously compensate for voltage disturbances. Also, the systems help utilities manage their power quality concerns and expand grid capacity for renewable distributed generation.

According to the company, it “generates the ideas, technologies, and solutions that meet the world’s demand for smarter, cleaner, and better energy.”

Therefore, through its Gridtec™ Solutions, AMSC aims to provide engineering planning services and advanced grid systems that optimize network reliability, efficiency, and performance. 

More about the technologies

Similarly, through its Marinetec™ Solutions, the Company provides ship protection systems. Worth noting, it is developing propulsion and power management solutions designed to help fleets increase system efficiencies.

Finally, AMSC’s Windtec™ Solutions provide wind turbine electronic controls and systems, designs, and engineering services that reduce wind energy costs.

In brief, the Company’s solutions are enhancing the performance and reliability of power networks; thus, increasing the operational safety of navy fleets and powering gigawatts of renewable energy globally.

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