Magnetek has received an initial production order to deliver 60 wind-power inverters valued at more than $7 million. Magnetek’s digital wind power inverters transform the dc voltage produced by rectifying variable-frequency ac from wind turbine generators to 60-Hz ac. In 2003, Magnetek entered into an agreement with a leading wind power company to develop power inverters for large, multi-megawatt wind turbines. The first 60 wind inverters to be delivered by Magnetek beginning in mid-2007 are a result of that agreement.
Under a separate supply agreement reached in October of this year, Magnetek will provide inverters for an initial period of one-year with customer options to extend the agreement in subsequent years. Over the past decade, wind energy has become the world’s fastest growing energy source, expanding globally at an average rate of 28% over the past five years alone. Currently, about 60,000 MW of wind energy are installed globally, with approximately 40,000 MW installed in Europe and about 9000 MW in the U.S.