US company AMSC has agreed to enter into a long-term supply contract with Inox Wind focusing on developing new wind turbine products for the Indian market.
Under the agreement AMSC will supply electrical control systems for Inox’s 2MW product line.
The two companies have also agreed that Inox will be able to internally manufacture a limited proportion of the ECS requirements for the line as a second source based on AMSC’s technology.
They will also collaborate on developing a new 3MW wind turbine to extend Inox’s product line. AMSC would develop a 3MW wind turbine design under a license agreement to be negotiated with Inox.
The total value of these agreements is around $210m over three to four years when the contract is expected to be completed. At this point revenues should continue for a further three years when AMSC will provide Inox with the majority of its 2MW ECS requirements under a preferred supplier arrangement.
“With the rapid growth of our business, we felt it was important to deepen our partnership with AMSC, while at the same time enhance our internal manufacturing capabilities,” said Inox Wind director Devansh Jain.
“We value the relationship with AMSC, which has allowed us to offer our customers wind turbines with superior technology and performance. We are on track with our wind turbine manufacturing expansion and continue to strengthen our position in the Indian market.”
AMSC president Daniel P. McGahn said: “We anticipate that our expanded relationship with Inox will provide a solid foundation for our business which we can build around and enable Inox to become the largest wind turbine manufacturer in India.”
Image: Wind turbines (MorgueFile)
