AMSC Licenses Turbines To Indian Co.
A wind power subsidiary of Devens-based American Superconductor Corp. has signed a license agreement with an Indian company that plans to manufacture and sell wind turbines around the world.
AMSC Windtec, which is wholly owned by American Superconductor, licensed proprietary 2 megawatt wind turbine designs to Inox Wind Limited of India and will also help Inox localize the supply of key turbine components, establish a manufacturing line and build Inox's first prototype.
AMSC will receive an upfront licensing fee and royalties on the sales of the turbines. Specific financial terms of the deal were not released.
Inox plans to begin production of the turbines in 2010. Last year, AMSC licensed a 1.65 megawatt turbine design to Ghodawat Industries, also of India. Ghodawatt expects production of its turbines to begin by the end of this year.
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