Broadwind Nabs Contract for Wind Towers (BWEN)
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…
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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
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
