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news release:
American Superconductor
High Temperature Superconductor Power Grid Product Enters Manufacturing Phase at
American Superconductor
Westborough, MA, Jan. 30: American Superconductor
Corporation (NASDAQ:
AMSC), a leading electricity solutions company, and the Tennessee Valley
Authority (TVA), the nation's largest public power provider, today announced the
start of production of two SuperVAR(R) dynamic synchronous condensers. AMSC's
SuperVAR dynamic synchronous condenser is a new product that stabilizes grid
voltages, increases service reliability, and can help maximize transmission
capacity. These two SuperVAR systems are expected to be the world's first
commercial high temperature superconductor product to be utilized on the grid.
AMSC expects to ship the first of the two SuperVAR machines in late 2006, with
the second system to be shipped in early 2007. TVA retains an option to purchase
three additional SuperVAR machines.
The two SuperVAR systems purchased by TVA will
each be rated at 12 megaVAR (MVAR) -- 4MVAR higher than the advanced prototype.
The 33% higher reactive power rating was selected to provide a more powerful,
more broadly applicable grid solution. The skid-mounted system is about the size
of a container ship cargo box and is able to fit readily into electrical
substations.
"In today's digital economy, keeping voltage
levels constant and stable is vital," said Terry Boston, TVA Executive Vice
President of Power System Operations. "That's what our customers expect, and we
believe that's what this new product will help us deliver. We believe SuperVAR
machines will help protect the transmission system from voltage fluctuations and
help ensure TVA's continued delivery of affordable, reliable power to the people
of the Tennessee Valley."
The release to production of the 12MVAR machines
follows the rigorous, accelerated life test of AMSC's advanced prototype
SuperVAR synchronous condenser at a TVA electrical substation serving a steel
mill operated by the Hoeganaes Corporation in Gallatin, Tennessee. Since it was
first synchronized with the TVA grid in January 2005, the advanced prototype
SuperVAR synchronous condenser has operated successfully through well over five
million voltage sags and surges (2,300 steel mill melt cycles).
"This initiation of commercial production of
SuperVAR synchronous condensers is particularly timely," said Greg Yurek, CEO of
American Superconductor, "because the recently passed Energy Policy Act of 2005
highlights the need for increased investment in the reliability and
modernization of the nation's transmission grid, including mandatory reliability
standards. AMSC's SuperVAR system provides the kind of advanced technology
solution that will help utilities meet the new reliability standards. In
combination with our D-VAR(R), PQ-IVR(TM), and DVC(TM) products, AMSC is now one
of the few companies in the world to have a complete offering of products and
solutions for large-scale power reliability issues."
SuperVAR machines serve as "shock absorbers" for
the grid, dynamically injecting or absorbing reactive power (measured in
volt-amperes-reactive or VARs) to minimize sudden and large voltage
fluctuations. Voltage regulation is critical to the success of a variety of
industries that require reliable as well as very high quality electric power;
for industrial usage it helps to keep equipment running at high production rates
preventing the shutdown of sensitive electronic manufacturing equipment; for
utilities it can help to stabilize the grid, and for wind farms it provides the
ability to ride through high voltage situations as well as provide the dynamic
voltage regulation and control required to meet the interconnection standards.
Developed by American Superconductor in
collaboration with TVA, SuperVAR machines help improve the reliability and
quality of electric power provided by utilities. According to industry experts,
the global addressable market for FACTS (Flexible AC Transmission System)
devices, of which the SuperVAR machine is a part, is approximately $170 million
per year. The SuperVAR machine was recently selected by the editors of IEEE
Spectrum as one of the "Best Technology Projects of 2006." Visit
http://www.spectrum.ieee.org/jan06/2604 for more information. It was also
selected by R&D magazine on October 20, 2005, as one of the top 100 R&D projects
in the world.
To learn more about AMSC's SuperVAR machine,
please visit:
here.
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