Xantrex lands a do a deal to supply the wind
Bruce Constantineau
Vancouver Sun
Wednesday, January 16, 2008
Burnaby-based Xantrex Gear Inc. has purely watched over a 25-million take to supply wind power converters to an mysterious "opening North American wind turbine businessman."
It's a distinguished do a deal that represents about 10 per cent of the power electronics firm's premeditated 2008 revenues but it can't officially spot the broker.
"By meeting, we cannot expression the purchaser," Xantrex chairman Mossadiq Umedaly theoretical in an audition.
But the broker is latent California-based Clipper Windpower Gear, in the function of the take dispatch Tuesday indicates it's an toupee of a formerly 12-million do a deal to supply wind converters to a turbine businessman.
In November 2005, Xantrex announced a 12-million take to supply Clipper Windpower with the converters.
Xantrex wind converters charge and convert variable power from wind-turbine generators in the field of clever AC power for sustain grids and Umedaly theoretical the wind sell has sooner firm climb authority. Ramble energy control in the U.S. grew by about 30 per cent stomach engagement.
"Ramble power is sooner demand for payment useful now, minus needing any true distinguished incentives," he theoretical. "As countries try to become a member their renewable power targets, the use of wind chi go up a lot."
Umedaly theoretical renewable energy sources -- with solar, wind, biomass and hydro -- extract smaller number than one per cent of greatest countries' energy supply and many need to educate that emblem to 10 to 15 per cent by 2020.
"In North America, it's not out of the question to reflect wind may possibly supply 10 per cent of our power desires by 2020," he theoretical.
Umedaly, who was recently proper chairman of BC Hydro, theoretical Xantrex wind converters are used on 2.5-megawatt wind turbines that can generate satisfactory power for about 100 homes.
He wouldn't expression the unit demand for payment of the converters but they are imaginary to be charge about 125,000 US each.
PI Fiscal Corp. back away Philip Tulk theoretical the wind converter do a deal is an self-important establishment for Xantrex.
"It's I imagine mega self-important than the happen would promontory in the function of the renewable result of Xantrex -- which represents about 40 per cent of quantity method -- is also the fastest-growing result of the company," he theoretical in an audition. "Simply, it's the greatest thirst quenching result of Xantrex."
The company's three main product divisions shelter renewable, programmable and battery-operated power.
Tulk theoretical about 70 to 80 per cent of Xantrex's renewable energy revenues come from solar power products but everybody likes the authority of wind power. He noted present-day are purely four or five authority wind turbine patrons Xantrex can keep to in North America and it would be good to snag contemporary purchaser well Clipper Windpower.
across-the-board article continues at: Xantrex (XTX:T) news; windpower inverter take
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