DEVENS, Mass., May 09, 2016 (GLOBE NEWSWIRE) — AMSC, a global energy solutions provider serving wind and power grid industry leaders, today announced new orders for multiple sites for D-VAR® STATCOM systems to support Australia’s electric grid. Under the terms of the order, the systems will be installed in one of the Company’s target markets, the electric utility sector, and will be used by the utilities to ensure high network performance and provide stability for the grid. Revenue from this D-VAR® order is expected to be recognized over the next four quarters.
AMSC’s D-VAR systems stabilize and regulate voltage and power factor on electric utilities’ transmission and distribution networks. The system detects and rapidly compensates for voltage disturbances by injecting leading or lagging reactive power at key points on the electric grid. Each D-VAR product is tailored to meet specific customer requirements and accommodates changing grid conditions.
Customers utilize AMSC’s D-VAR solutions to provide dynamic voltage control, power factor correction, and post-contingency reactive compensation to stabilize the power grid and prevent undesirable events such as voltage collapse. D-VAR reactive compensation systems are classified as Static Compensators, or “STATCOMs,” a member of the FACTS (Flexible AC-Transmission System) family of power electronic solutions for alternating current (AC) power grids. The D-VAR system is designed to be able to detect and instantaneously compensate for voltage disturbances by dynamically injecting leading or lagging reactive power into the power grid.
About AMSC (NASDAQ:AMSC)
AMSC generates the ideas, technologies and solutions that meet the world’s demand for smarter, cleaner … better energy™. Through its Windtec™ Solutions, AMSC provides wind turbine electronic controls and systems, designs and engineering services that reduce the cost of wind energy. Through its Gridtec™ Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency, and performance. The Company’s solutions are now powering gigawatts of renewable energy globally and are enhancing the performance and reliability of power networks in more than a dozen countries. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe, and North America. For more information, please visit www.amsc.com.
AMSC, Windtec, Gridtec, D-VAR and Smarter, Cleaner … Better Energy are trademarks or registered trademarks of American Superconductor Corporation. All other brand names, product names, trademarks, or service marks belong to their respective holders.