This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

AMSC Wins First D-VAR(R) STATCOM Project In South Africa

DEVENS, Mass., Sept. 10, 2013 (GLOBE NEWSWIRE) -- AMSC (Nasdaq:AMSC), a global solutions provider serving wind and power grid industry leaders, today announced that Consolidated Power Projects (CONCO), South Africa's largest high voltage construction company, has selected AMSC's D-VAR® STATCOM solution to connect South Africa's largest wind farm to the electricity grid. This is AMSC's first D-VAR STATCOM sale to South Africa. The system will be commissioned in the first half of 2014. 

"We selected AMSC as the grid interconnection solution provider because of its proven ability to meet even the most stringent of grid codes and keep wind farms online thereby increasing output and revenues," said Rein Dijkstra, Business Unit Manager; Renewable Energy, CONCO. 

To ensure high quality power and a stable electricity grid, South Africa has carefully reviewed the lessons learned by other countries and regions that have added substantial amounts of renewable energy to their grids and have designed strict grid codes that must be met in order for renewable power plants to connect to the grid. AMSC's D-VAR solution offers complete VAR compensation and voltage control, enabling wind and solar energy generation systems to meet the most stringent requirements while augmenting overall performance of the wind farm. 

Located at the wind or solar plant substation, AMSC's STATCOM products provide a renewable energy integration solution that allows power plants to stay online and helps prevent the nuisance tripping of solar inverters and wind turbine generators. 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.

"The D-VAR system cost effectively provides the dynamic reactive VAR compensation that is essential to connect renewable power plants to the grid effectively, making it an ideal solution for the emerging South African renewables market," said Daniel P. McGahn, President and CEO, AMSC. "CONCO has built a reputation as Africa's leading developer of quality, turnkey high voltage solutions and we are looking forward to working with them and helping to deliver a clean energy to South Africa."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs