Broadwind Inc (NASDAQ:BWEN), the US-based precision manufacturer of specialised components for the wind and other industries, on Monday said it has secured USD 38 million (EUR 38.05m) in tower orders from an unnamed wind turbine manufacturer.
This is the company’s largest tower order in more than three years. President and chief executive Eric Blashford said that demand for new wind installations is gaining speed after the recent passage of the Inflation Reduction Act (IRA), which will provide long-term tax incentives for investment in wind and renewables.
“Given improving fundamentals within our wind vertical, together with strong activity within conventional energy and industrial end-markets, we see significant opportunities for growth entering 2023,” added Blashford.
The towers under the contract will be produced at Broadwind’s Abilene, Texas facility, with completion of the assignment expected in the first half of 2023.