DeWind receives order for D8 wind turbines

Composite Technology Corporation (BULLETIN BOARD: CPTC) is up almost 9 percent today to $1.32 on an announcement that the company's DeWind subsidiary has received an order for five 2 MW wind turbines.

The order is from a subsidiary of Seawind International for delivery to one of its projects in Chile. The five DeWind D8 wind turbines are scheduled for delivery in mid 2008, with towers to be supplied by Seawind.

DeWind has received an initial down payment of $4.7 million on the order.

Seawind will also be placing orders for spare parts inventory and for service and maintenance, the company said.

"This is the first order for our client, a senior mining company in Chile, for the DeWind D8 wind turbine," said Tim Adams, Managing Director of Seawind. "We expect to be deploying more than 40 MW of DeWind turbines in Chile during 2008 for our internal and external project development pipeline."

The turbines are to be manufactured at the TECO-Westinghouse facility in Texas on the same production line as the company's D8.2 wind turbine.

Seawind International is an international provider of project management, engineering, construction and operations services to the wind energy industry. In addition, it develops, builds and operates its own wind power projects across the globe.

Composite Technology Corporation is based in Irvine, California, and develops, manufactures and sells high performance electrical transmission and renewable energy generation products through its subsidiaries DeWind and CTC Cable—a provider of superconducting cables for power grid applications.

Cleantech developments making news in the past 24 hours

• New year money goes to biofuels
• VeruTEK completes new green chemistry remediation project

View the last week of cleantech developments here | Subscribe to full feed