Xantrex Technology Inc. announced today that it has received a purchase order valued at $25 million from a leading North American wind turbine manufacturer to supply multi-megawatt power converters. Xantrex expects to ship most of the wind converters in 2008 beginning in the second quarter. In the first quarter of 2008, we expect to ship $3 million of the remaining wind converters from the $12 million May 2007 purchase order.
"Wind products are an integral part of our Renewable Power portfolio," said Mossadiq S. Umedaly, Xantrex Chairman, "and the fast-growing North American wind market is clearly a strategic target. We are pleased with the increased size of the order for our wind business in 2008."
Xantrex wind converters efficiently and reliably convert and control variable power from wind turbine generators into high-quality AC power for the utility grid.
Xantrex CEO John Wallace commented, "This significant increase in the size of the purchase order demonstrates that Xantrex has proven itself as an excellent supply partner for wind converters. We are looking forward to continuing our relationship at the new higher level."
Wind energy is one of the fastest growing renewable energy sources around the world. In the U.S. for 2007, industry observers expect installed wind energy capacity to have risen by 30%. Compared with fossil fuels, wind energy offers a superior emissions profile, including mitigation of global warming, attractive life-cycle costs, and secure sourcing.