American Superconductor Bags $20M Electrical Control Systems Contract

American Superconductor Corporation AMSC has agreed to deliver nearly $20 million of demand for its wind turbine electrical control systems (ECS) to India's Inox Wind Limited.
The order will include 2-megawatt (MW) ECS and 3 MW ECS.
AMSC expects to ship these systems over the course of fiscal year 2023.
"The wind energy sector in India is finding its footing, with strong support by private and public entities," said AMSC Chairman, President and CEO Daniel P. McGahn.
According to GlobalData, the Indian onshore wind market capacity is forecasted to add over 35 GW by 2030.
"The production of larger, more efficient 3 MW class wind turbines will provide us with the means to augment our market leadership," said Devansh Jain, director of Inox Wind.
Price Action: AMSC shares are trading higher by 3.30% at $4.38 on the last check Wednesday.

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