AMSC wins $25M mining power contract from North American utility

AMSC (Nasdaq: AMSC) announced it has secured a $25 million order from a North American utility to provide an integrated power quality solution supporting a large-scale mining development.

According to a press release from the Ayer, Mass.-based company, the turnkey contract includes complete design, engineering, installation, and commissioning of an integrated power system. Components include modular STATCOM technology, metal enclosed capacitor banks, shunt reactors, a 138kV power transformer, switchgear, and protection and control equipment.

AMSC said delivery is expected during fiscal year 2027, and the company described it as its largest individual order for mining development in company history.

"This order illustrates the leverage that exists between our products, both from a customer perspective and from a financial perspective. The customer receives a complete solution tailored to their needs and what might have been a few million-dollar equipment order, now becomes a $25 million turnkey installation for us," said Daniel P. McGahn, Chairman, President and Chief Executive Officer of AMSC.

The project is intended to strengthen the regional transmission and distribution system to support increasing industrial loads while maintaining grid performance.

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