Cicero-based alternative energy company Broadwind Energy Inc. has received $87 million in new tower orders from an unnamed U.S. wind turbine maker as the domestic wind energy industry continues to recover.
President and CEO Peter Duprey said in a statement that the industry is rebounding thanks to a production tax credit extension -- which is a wind power subsidy -- and the ongoing drop in the cost of electricity from wind energy.
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Broadwind said Monday that the towers will be made at its plants in Manitowoc, Wis., and Abilene, Texas.
The company also announced that a $34 million order from 2010 was canceled by mutual agreement because the unnamed company's U.S. requirements were reduced.
Year to date, Broadwind has $200 million in new tower orders.
The company's stock added 12 cents, or 2.4 percent, to $5.11 in morning trading. The shares have traded between $1.66 and $6 over the past year.