- Industry's First Optimized Utility-Scale PV Interconnection System Introduced at Solar Power International 2010 - Provides Centralized Control of Real and Reactive Power at the Point of Interconnection - Enables Developers to Meet the Most Stringent Grid Interconnection Requirements With Prove
Los Angeles, CA - Oct. 12, 2010 - American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, announced today at the Solar Power International 2010 exhibition the launch of its SolarTie Grid Interconnection Solution. The SolarTie solution combines two of AMSC's proven and proprietary technologies - D-VAR® STATCOM solutions and PowerModule™ power converter systems - that are today connecting over 15 gigawatts (GW) of renewable energy to the grid. This new offering is a utility-scale grid interconnection system designed specifically for megawatt-scale solar photovoltaic (PV) power plants. By coupling best-in-class power converter capabilities with AMSC's world-renowned dynamic reactive compensation technology, the SolarTie product represents the industry's first fully optimized solution for utility-scale PV power plant developers. The addressable market for SolarTie solutions is expected by industry analysts to be approximately $2 billion by 2015.
With a base rating of 1.4 megawatts (MW) and a turn-on voltage of up to 1,000 volts (VDC), the SolarTie solution is one of the most robust power inverter systems on the market. In addition, SolarTie customers will benefit from:
• The services of AMSC's highly skilled and experienced Network Planning and Applications Group;
• Solar inverters based on AMSC's proven PowerModule™ platform;
• The ability to dynamically control real and reactive power at the Point of Interconnection;
• AMSC's proprietary Smart Grid Interface (SGI) Controller, which directs SolarTie inverters and reactive power elements to provide efficient energy production and precise regulation at the Point Of Interconnection (POI); and
• Easy integration with STATCOMs and/or capacitor and reactor shunt banks for additional reactive support if installed as part of the system.
The market for utility-scale solutions is forecasted for impressive growth. Industry research firm IMS Research expects annual shipments of solar PV inverters to quadruple from approximately 8 GW at the end of 2009 to 32 GW in 2014. During this period, the utility-scale solar inverter market is expected to grow at a much faster pace than the commercial and residential solar inverter markets.
"AMSC's SolarTie solution offers grid-management support, reactive compensation and grid interconnection, all of which are required by utility-scale PV plant developers," said Ash Sharma, Research Director at IMS Research. "As a result, AMSC's product appears well positioned for this growing market."
Similar to wind farms, solar power plants often must meet requirements in a growing number of countries for dynamic reactive compensation. Employing the same technology as AMSC's proven D-VAR system, which is connecting more than 70 wind farms worldwide to the grid, the SolarTie solution provides instantaneous detection, accurate response and immediate results, ensuring efficient energy production and precise grid management. For example, if a disturbance occurs (voltage sag or swell, passing clouds or other event) the SGI will command the PV plant's SolarTie inverters to provide the needed reactive support to control the voltage at the POI. AMSC's SolarTie solution provides sub-cycle (less than 16 milliseconds) detection and response to grid disturbances while many competing interconnection solutions have response times of 10 to 20 seconds.
"Over the course of the past decade, AMSC has established itself as a leader in the renewable energy market with a wide range of solutions," said AMSC President and Chief Operating Officer Dan McGahn. "In fact, our power technologies are now enabling nearly 10% of the world's wind generated electricity. We are proud to utilize this tremendous experience base to field a highly optimized, high power grid interconnection solution for PV solar power plant developers. AMSC's SolarTie solution sets a new standard for the industry by simplifying implementation, reducing project cost and enhancing plant reliability."
For more information about AMSC's SolarTie solution, please visit AMSC at booth #4553 at Solar Power International or visit www.amsc.com/products/solartie.html.
About American Superconductor (NASDAQ: AMSC)
AMSC offers an array of proprietary technologies and solutions spanning the electric power infrastructure - from generation to delivery to end use. The company is a leader in renewable energy, providing proven, megawatt-scale wind turbine designs and electrical control systems. The company also offers a host of Smart Grid technologies for power grid operators that enhance the reliability, efficiency and capacity of the grid, and seamlessly integrate renewable energy sources into the power infrastructure. These include superconductor power cable systems, grid-level surge protectors and power electronics-based voltage stabilization systems. AMSC's technologies are protected by a broad and deep intellectual property portfolio consisting of hundreds of patents and licenses worldwide. More information is available at www.amsc.com.
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American Superconductor and design, Revolutionizing the Way the World Uses Electricity, AMSC, Amperium, Powered by AMSC, D-VAR, dSVC, FaultBlocker, PowerModule, PQ-IVR, PQ-SVC, SuperGEAR, SeaTitan, SolarTie and, Windtec and design are trademarks or registered trademarks of American Superconductor Corporation or its subsidiaries. All other brand names, product names or trademarks belong to their respective holders.
Any statements in this release about future expectations, plans and prospects for the company, including our expectations regarding the future financial performance of the company and other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are a number of important factors that could materially impact the value of our common stock or cause actual results to differ materially from those indicated by such forward-looking statements. Such factors include: we have a history of operating losses, and we may incur losses in the future; our operating results may fluctuate significantly from quarter to quarter and may fall below expectations in any particular fiscal quarter; a significant portion of our revenues are derived from a single customer and revenues from this customer may decline in future periods; adverse changes in domestic and global economic conditions could adversely affect our business; changes in exchange rates could adversely affect our financial results; we may not realize all of the sales expected from our backlog of orders and contracts; we rely upon third party suppliers for the components and subassemblies of many of our products, making us vulnerable to supply shortages and price fluctuations; we have not manufactured our Amperium wire in commercial quantities, and a failure to manufacture our Amperium wire in commercial quantities at acceptable cost and quality levels would substantially limit our future revenue and profit potential; and our patents may not provide meaningful protection for our technology, which could result in us losing some or all of our market position. Reference is made to these and other factors discussed in the "Risk Factors" section of the company's most recent quarterly or annual report filed with the Securities and Exchange Commission. In addition, any forward-looking statements included in this press release represent the company's views as of the date of this release. While the company anticipates that subsequent events and developments may cause the company's views to change, the company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the company's views as of any date subsequent to the date this press release is issued.
Managing Director, Corporate Communications