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BUSINESS & TECH

Sinovel to Pay More Than $50 Million in Trade-Secrets Case

A U. S. federal court has ordered Sinovel Wind Group Co. Ltd. to pay a $1.5 million fine and $57.5 million in restitution after it was convicted of stealing trade secrets. Photo: VCG
A U. S. federal court has ordered Sinovel Wind Group Co. Ltd. to pay a $1.5 million fine and $57.5 million in restitution after it was convicted of stealing trade secrets. Photo: VCG

Months after it was convicted of stealing trade secrets, one of China’s biggest wind-power companies has been fined and must compensate an American firm more than $50 million.

The U. S. District Court for the Western District of Wisconsin ordered Sinovel Wind Group Co. Ltd. to pay a $1.5 million penalty — the maximum amount for such a case.

Sinovel must also pay $57.5 million in restitution to the wind-technology firm from which it allegedly stole — U.S.-based AMSC, formerly known as American Superconductor Corp.

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