Inverter company Xantrex (XTX:T) in lands big windpower contract
article from: http://www.canada.comXantrex lands a deal to supply the wind
Bruce Constantineau
Vancouver Sun
Wednesday, January 16, 2008
Burnaby-based Xantrex Technology Inc. has just secured a $25-million contract to supply wind power converters to an unnamed "leading North American wind turbine manufacturer."
It's a significant deal that represents about 10 per cent of the power electronics firm's projected 2008 revenues but it can't officially name the buyer.
"By agreement, we cannot disclose the purchaser," Xantrex chairman Mossadiq Umedaly said in an interview.
But the buyer is likely California-based Clipper Windpower Technology, because the contract announcement Tuesday indicates it's an extension of a previous $12-million deal to supply wind converters to a turbine manufacturer.
In November 2005, Xantrex announced a $12-million contract to supply Clipper Windpower with the converters.
Xantrex wind converters control and convert variable power from wind-turbine generators into high-quality AC power for utility grids and Umedaly said the wind market has very strong growth potential. Wind energy capacity in the U.S. grew by about 30 per cent last year.
Article continues at: XTX.T Xantrex new wind energy contract
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