Broadwind receives $50-mn wind tower order

By Editor


Illinois, US, based infrastructure products and services company Broadwind Energy has received order to supply $50 million worth of towers for wind turbines.

Broadwind will produce the towers at its facilities in Manitowoc and Abilene, Texas.

The company hasn’t disclosed identity of the buyer but said work on the products will begin early next year and will continue throughout the year.

The order is expected to take up the entire annual capacity of Broadwind’s production facilities. While the Manitowoc facility has annual capacity of 350 wind towers, the Abilene facility can produce 150 towers in a year.

ALSO READ: Broadwind Energy secures wind tower deal worth $34M in the U.S

Although the exact number of wind towers ordered has not been disclosed, it is known that a single tower costs between $300,000 and $500,000.

Joni Konstantelos, Broadwind’s director of investor relations and corporate communications, said the $50-million purchase would help the company’s production to keep flowing.

In its report for the fourth quarter of 2014, the company had reported a 5 percent fall in revenue to $53.8 million from the corresponding quarter in the previous year. The company attributed the loss to short-term production issues in Abilene tower facility.

But compared with 2013 the company also reported overall improvement in revenue by 12 percent to $241.3 million.

And the company also reduced operating losses from $13.2 million in 2013 to $5.9 million in 2014.

Ajith Kumar S

[email protected]

Latest News