Broadwind Nabs Contract for Wind Towers (BWEN)
June 21, 2012 by Paul Ausick
US manufacturing firm Broadwind Energy Inc. (NASDAQ: BWEN) announced today that it had won a contract to supply 14 wind turbine towers to Goldwind, China’s second-largest wind energy company. The towers will be installed at Goldwinds Musselshell project in north central Montana.
The announcement follows a recent ruling by the US Trade Representative that slapped a tariff of up to 26% on Chinese-made wind towers. Broadwind was one of four companies to file the complaint against the Chinese tower makers.
The Musselshell project will generate 20 megawatts of electricity and construction is expected to begin in the third quarter of this year. Goldwind acquired the project from original developer Volkswind USA in January of this year.
Shares of Broadwind are up about 20% at $0.31 in a 52-week range of $0.25-$1.72. More than 1.3 million shares have traded in the first 90 minutes of today’s session.
Paul Ausick
