- American Superconductor Corporation (NASDAQ: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.
Here’s How Much $100 Invested In American Express 20 Years Ago Would Be Worth Today
American Express (NYSE:AXP) has outperformed the market over the past 20 years by 1.03% on an annualized basis…
