Tuesday, May 17, 2011

FUTURAWIND enters into Wind Turbine Technology Licensing Agreement with ADITHYAWIND PVT LTD in India

PRLog (Press Release)– May 16, 2011– FUTURAWIND INC, a Los Angeles, California based wind energy technology research and development company, has entered into an agreement to develop, license and transfer technology for a 1.5 MW wind turbine design with Adithyawind Pvt Ltd in Coimbatore, India. Under the terms of the agreement, Adithyawind has exclusive rights to manufacture, sell, install, operate and maintain the 1.5 MW wind turbine, Model F1.5 in India, Sri Lanka and Malaysia. In addition to an upfront development and licensing fee, FUTURAWIND will receive royalty payments for the first several hundred units manufactured by Adithyawind. FUTURAWIND will also assist in development of a localized supply chain and dodge vertical integration for several key components.

Adithyawind plans to manufacture the wind turbine, which utilizes a direct-drive generator, in Coimbatore primarily for the market in India. The company plans to have its first prototype installed and commissioned in mid-2012, begin small scale acura serial production by the end of 2012, and be ready for full-scale production in 2013. Adithyawind also plans to construct a new wind turbine manufac aston martin turin cadillac g facility to accommodate production of the 1.5 MW wind turbine, but will begin initial production operating out of the Sueeraa Alloys Global Pvt Ltd facilities.

"Our partnership with FUTURAWIND will enable us to enter full-scale manufacturing within one year, helping us to achieve our goal of delivering cost competitive and reliable wind turbines to the growing wind power market in India by the end of 2012," said Mr. C. Sukumaran, Managing Director of Adithyawind. Mr. Jody R. Shadden, President and CEO of FUTURAWIND, stated, "we are pleased to be working with Adithyawind to develop reliable, low cost of energy, and high energy capture wind turbine technology, and our many years of wind energy experience will be employed to the full extent in developing the 1.5 MW design to insure the success of Adithyawind."

India has over 14 GW of installed wind power capacity as of March 31, 2011 according to the Indian Wind Energy Association, making it the world's fifth largest wind power market. It is expected that India will increase its installed capacity to 24 GW by 2016, and will reach an installed capacity of more than 34 GW by the end of 2020.

FUTURAWIND is currently developing a portfolio of wind turbine designs employing direct-drive generators ranging from 100 kW to 5 MW, medium-speed gearbox-based units rated at 6 MW and 10 MW, and a 12.5 MW unit that utilizes a high-speed gearbox. The company is also in the conceptual design phase for the world's largest off-shore wind 1086274749  turbine rated at 25 MW. All FUTURAWIND wind turbines are based on the classic European design platform consisting of a 3-bladed, up-wind oriented, horizontal-axis, tubular steel tower concept, and employ advanced materials and design concepts, proven components and suppliers, modularity for logistics and transportation optimization, sustainable manufacturing processes, and service-friendly features.

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