American Superconductor to develop turbines (Boston)

American Superconductor Corp. plans to jointly design and develop a new line of wind turbines with its longtime Chinese partner, Sinovel Wind Group Co., the companies announced Tuesday.

The multi-megawatt-scale turbines will serve both the onshore and off-shore markets, and Sinovel plans to market and sell the turbines worldwide after beginning volume production in 2012.

Under the agreement, Sinovel will buy core electrical components for the turbines from American Superconductor (Nasdaq: AMSC), which is based in Devens, Mass.

Sinovel, China’s largest wind turbine manufacturer, agreed earlier this month to a $445 million contract with American Superconductor for core electrical equipment for wind turbines. The two companies have worked together since 2005.

From the Boston Business Journal.