Is this a bit a bad or good news? Recharge is reporting that Hyundai Heavy in Korea has rolled out a 5.85 MW offshore synchronous permanent magnet generator turbine. Does AMSC do PMG turbines? HHI was a partner of theirs I believe.
Barry LOVES bashing AMSC. His ID rarely posts on any other boards and he is completely negative about the stock. Barry is either a TROLL or a lonely old man in need of attention. I don't which is worse.
I have decided to become completely dispassionate about AMSC. I could see the PEAK on the CCI indicator and put stops @ $3.08. They triggered and I'm out until the indicators reverse. I put my money in SLV 2 days ago, which has a very nice chart and isn't manipulated like this poor stock. If I'm out when AMSC pops on litigation news, I hope Chump sets a new short before that day. That would bring a smile to my face.....
AMSC had licensed designs for smaller double-fed wtgs to hyundai, and more recently, a design for a 5mw full conversion for offshore. But now Hyundai has unveiled a PMG for offshore, so ...
HHI apparently has other eggs in their basket besides amsc. (Unlike Sinovel, who appeared to be joined to the hip with amsc as they grew.) AMSC will never have another cash cow like Sinovel again. Best they can hope to do is to eventually get their wind segment back to modest profitability ... hopefully enough to offset the never-ending losses from the hts side.
good luck to all
From a 2010 press release:
June 9, 2010
AMSC and Hyundai Heavy Industries Expand Wind Power Strategic Alliance
- Team Developing 5 MW Wind Turbine for Rapidly Growing Global Offshore Market - HHI to Begin 5 MW Wind Turbine Production for the Offshore Market in 2011
DEVENS, Mass. & ULSAN, South Korea, Jun 09, 2010 (BUSINESS WIRE) --American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, and South Korea-based Hyundai Heavy Industries Co., Ltd. (Korean Stock Exchange: HHI) today announced that they have expanded their strategic alliance to include the joint development of a 5 megawatt (MW) full conversion wind turbine primarily for use in the burgeoning offshore wind industry. Under the terms of the alliance, the 5 MW wind turbine design will be jointly developed by HHI and AMSC's wholly-owned AMSC Windtec™ subsidiary. Once HHI begins volume production of the wind turbines, which is expected to commence by the end of 2011, HHI will purchase power electronic components for the 5 MW wind turbines from AMSC.
In October 2008, AMSC Windtec licensed 1.65 and 2 MW doubly-fed induction wind turbine designs to HHI. HHI already has begun volume production of the 1.65 MW wind turbines and has ordered nearly 80 sets of electrical control systems and power electronic components from AMSC for this platform. HHI also has ordered an initial 10 wind turbine electrical control systems from AMSC for use in its first 2 MW wind turbines. HHI plans to commission its first 2 MW wind turbines by June 12, 2010 and plans to enter volume production of these wind turbines by the end of this year
Did you cath the recent article on windpower monthly? It talks about a 5.5MW HHI turbine co-developed with AMSC. I had shared your concern that perhaps HHI was going with someone else, or at least a parallel developement, but this makes me think it was the AMSC turbine all along, just without AMSC being mentioned earlier. Do you have a different take on this?
Last sentence of the article:
“AMSC offers a choice between a permanent magnet generator (PMG) and a doubly fed induction generator (DFIG). HHI selected the PMG option, which comes with a full (100%) power converter.”