Hi,
no that won't work, its an AC sensor, aka a current transformer.
If your spindle is turning very slowly, say 120 rpm, or 2 revs per second. The AC current supplied to your servo would
have a frequency of 2Hz, not the 50 or 60Hz expected and required by the sensor you have linked to.
You need a sensor capable of measuring DC and AC which requires a Hall type sensor. The ones (LEM) I bought for my
2.6kW servo are 15A nominal and linear to 48A and cost me about $20NZD, about $15USD. I doubt you'll find
much cheaper except rubbish Chinese junk.
Craig
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