Broadwind Secures Wind Power Contracts worth $8 Million; Magnifies Credit Line

Broadwind Energy Inc has announced that it has secured $8 million worth of new wind tower orders from an undisclosed customer and provided an update to some of its debt borrowings.

The wind industry supplier aims to produce the towers at its facility in Manitowoc, Wisconsin, this year. Among the contracts is a preliminary qualification order from a new participant in the US wind market, Broadwind said without providing names.

The manufacturer also announced it has enhanced its present credit line with CIBC Bank USA to USD 35 million, with an extension of the term for three years. CEO Stephanie Kushner explained that the surge will “provide additional flexibility to support near-term strength in the US wind market,” and support the expansion of Broadwind’s product range in each business segment.