Devens, Mass.-based American Superconductor Corp. (AMSC), has licensed two of its proprietary wind turbine designs to South Korea-based Hyundai Heavy Industries Co. Ltd. (HHI).
Under the terms of the contracts, AMSC's wholly owned AMSC Windtec subsidiary will license designs to HHI for its proprietary 1.65 MW and 2 MW doubly fed induction wind turbines. HHI plans to commence production of 1.65 MW wind turbines by the end of 2009 and will initially target the U.S. market. HHI's marketing and sales rights for both wind turbines will be extended to dozens of countries around the world.
In addition to up-front license fees for each design, AMSC will receive royalty payments for the first several hundred 1.65 MW and 2 MW wind turbines produced by HHI. AMSC will also provide HHI with core electronic components for the 1.65 MW and 2 MW wind turbines manufactured by HHI.
HHI plans to have its first wind turbine prototype installed and commissioned by mid-2009 and expects to begin shipping wind turbines to customers by the end of 2009.
‘We are honored to have been selected by HHI to provide them with our proprietary wind turbine designs and core electronic components,’ says AMSC founder and CEO Greg Yurek. ‘We believe they will become the first company to sell substantial numbers of AMSC Windtec-designed wind turbines in the U.S., which is the world's second largest wind power market.’
SOURCE: American Superconductor Corp.