AMSC Announces $11 Million of D-VAR® System Orders
Top-tier Wind Manufacturer Drives D-VAR Demand
AYER, Mass., Dec. 19, 2019 (GLOBE NEWSWIRE) — AMSC (NASDAQ: AMSC), a global energy solutions provider serving power grid and wind industry leaders, today announced $11 million of D-VAR® STATCOM system orders. The D-VAR orders serve the renewable energy sector in the United States and Australia. These D-VAR systems are expected to provide voltage regulation by dynamically responding to varying load conditions while connecting wind power plants to the electric grid. Nearly all of the revenue from these D-VAR orders is expected to be recognized in fiscal year 2020.
“Our Grid business momentum continues,” said Daniel P. McGahn, Chairman, President and CEO, AMSC. “We now anticipate entering fiscal year 2020 with a strong backlog of D-VAR system orders.”
Customers utilize AMSC’s D-VAR solutions to provide dynamic voltage control, power factor correction, and reactive compensation to stabilize the power grid and prevent undesirable events such as voltage collapse. 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.
These solutions are designed to augment the overall performance of wind farms and to enable developers to meet grid interconnection requirements. The system is a powerful, cost-effective way to provide continuous voltage regulation, improve voltage stability, meet interconnection requirements, and dynamically provide grid support where it is needed.
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.