Broadwind Energy lands $14 million wind tower order
Naperville-based Broadwind didn’t disclose the name of the wind turbine manufacturer that bought its towers.
Broadwind Energy Inc. has won a $14 million deal to supply wind towers for a U.S wind turbine manufacturer.
Naperville-based Broadwind didn’t disclose the name of the manufacturer, but said the order includes an option to purchase up to $27 million of additional towers which would have to be exercised in early 2013.
The towers will all be delivered in 2013 and will be produced at Broadwind’s facilities in Manitowoc, Wis., and Abilene, Texas.
“We are very pleased that Broadwind’s improved competitive position has led to new wind tower business, particularly given the regulatory uncertainty around the extension of the production tax credit,” Broadwind Chief Executive Peter C. Duprey said in a statement.
“Assuming the option is exercised, orders for 2013 deliveries will exceed the low end of the production range guidance we previously provided,” Duprey added. “With wind tower supply and demand coming into better balance and the ongoing trade case, we have seen continued market share gains, and are increasingly optimistic about the outlook for the tower business in 2013.”
News of the deal sent shares of Broadwind’s stock (Nasdaq: BWEN) soaring Tuesday, closing at $2.35 a share, up 13 percent from Monday’s close.
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