Xantrex Expands Wind Converter Supply Agreement

Xantrex Technology Inc. signed a three-year supply agreement with a North American wind turbine manufacturer, and has received an initial purchase order to supply multi-megawatt power converters against that agreement valued at $12 million. This initial order is to be delivered within 2007.

“This contract and purchase order builds on our substantial wind business from 2006 and secures our long term participation in the growth of wind power which is part of our renewable power business and our primary growth market,” said Mossadiq S. Umedaly, Xantrex’s Chairman. Xantrex wind converters convert and control variable power from wind turbine generators into high-quality AC power for the utility grid. In 2006, U.S. installed wind energy capacity rose by 27%, according to the American Wind Energy Association. “This long term contract verifies that Xantrex has proven itself as an excellent supply partner to the wind industry. The associated business will provide stable growth for our wind converter business for the next three years starting in the second half of 2007,” said Xantrex CEO John Wallace.
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