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Windar Photonics PLC gets boost from sensor orders

Windar Photonics PLC has received orders for 11 of its WindEYE sensors from two large North American wind farm owners and operators.
Windar Photonics PLC gets boost from sensor orders
The firm's laser guided LIDAR units sit on the top of wind turbines and lines them up properly..

---ADDS  BROKER COMMENT AND SHARE PRICE---

Windar Photonics PLC (LON:WPO) has received orders for 11 of its WindEYE sensors from two large North American wind farm owners and operators.

The firm's laser guided LIDAR units sit on the top of wind turbines and lines them up properly. The technology also analyses the wind ahead of a turbine so it can be optimised to conditions.

Windar said a "well-established" Canadian utility provider with over 2,500 MWs of installed wind farms in Canada and the United Sates has ordered six of the units to be fitted immediately.

Meanwhile, a second order is for five units to be installed immediately has been placed by a US based utility with over 1,000 MWs of installed wind farms.

Chief executive of  Windar Martin Rambusch said: "These two new orders represent a significant opportunity for Windar to expand our global reach and to demonstrate the significant benefits of WindEYE to utility scale wind generation projects.

"Our industry disruptive WindEYE solution can add significant value to wind farm owners and to turbine manufacturers, increasing project yields by up to 7% and annual energy production by as much as 1-4%, and we look forward to demonstrating these benefits to our new partners throughout 2016 and beyond."

"Whilst small in themselves, these orders represent important traction in the North American market and we believe are a reassuring sign that Windar Systems are gaining wide appeal among operators as well as manufacturers," said house broker Cantor, which repeated a 'buy' stance and 148p price target.

Analyst Adam Forsyth said  he expected more to follow and highlighted that wind energy was likely to see continued growth following the recent decision to extend US tax credits for wind energy out to 2022.

Shares gained 3.45% to stand at 75p each.

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Article
December 29 2016

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