Valero Energy is using wind energy to power a refinery in Texas. The $150 million clean energy project will use 33 wind turbines to provide up to half of the energy needed.
Cisco has a goal of eliminating 25% of greenhouse gas emissions over the next 4 years and wants to help clients do the same. Their Telepresence HD video conferencing system is selling well and a big step in this process.
Broadwind Energy (BWEN) recorded another quarter of losses and profitability isn’t looking likely until at least 2011. Subtracting one time items the company posted a loss .11/share, which was .04/share more than what analysts expected. Revenues missed badly as well coming in at $32.95 million, missing estimates of $46 million. This is a company making no progress and even took a step backwards last quarter.
The CEO explained the poor performance: “Broadwind was significantly impacted by lower fourth quarter purchases under our multi-year framework agreements. In addition, we believe lower revenues in our Logistics and Technical Services businesses were the result of lower wind turbine sales. To offset the adverse earnings impact of sharply lower revenues, we initiated an aggressive expense management program in 2009. We believe our cost-control efforts will benefit the Company throughout 2010 and beyond.”
He went on to say they are beginning to see an increase in orders and better liquidity due to public offering early in the year. The company sees a weak first half, but momentum heading into a strong year in 2011.
Shares of BWEN are holding steady in premarket trading.
:: >>> Click Here For Your FREE Broadwind Energy Analysis
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Last night I reported on Clean Energy Fuel’s (CLNE) strong earnings report and the Janney Montgomery Scott Buy rating reiteration is helping to push the stock to a new all time high today with heavy volume. They have raised the price target as well to $26. Hat tip to Street Insider for the following analyst comment:
“Clean Energy Fuels reported 4Q09 revenue and EPS that beat consensus revenue and EPS on lower-than-expected volumes. We would be buyers of CLNE after this strong earnings report. The company saw better gross margins, which we expect to improve slightly going forward as the stations see more traffic. The backlog of stations, a key indicator of future demand, has moved up from 80 mid last year to around 200 today. While the Ports of LA and LB continue to roll out slowly, the deadline for the next round of funding ($16 million or around 250 trucks) is this Friday. They should finally pass the 1,000 truck milestone at the Ports in 2Q10. Also the Senate passed a key bill yesterday afternoon which extends the $0.50 tax credit for 2010 and makes it retroactive to January 1, 2010. We are raising our 2010 and 2011 estimates, driven mainly by better gross margins and increased conversions from CLNE’s BAF subsidiary. We reiterate our BUY rating and are upping our fair value estimate to $26 from $23 based on 18x our new CY2011 EPS estimate of $1.45 (previously $1.27).”
::: >>> Click Here For Your FREE Clean Energy Fuels Analysis
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China Sunergy (CSUN) is once again showing why its a 2nd rate China solar company after reporting its second straight quarterly loss, reported an adjusted loss of .08/share which was inline with analyst estimates. Revenues came in a bit higher than expected at $97.6 million. The revenue growth was there with a 126% surge over the year ago quarter and a 20% sequential improvement, but the company just can’t generate any consistency with its profits. While its competitors are seeing big improvements in revenue AND EPS, CSUN just can’t get it together on the EPS side. So, while the company matched analyst estimates, it was a rough quarter for CSUN in my opinion.
Looking ahead to next quarter, the company sees shipments of 68 – 75MW and for the full year 280 – 350MW, so the guidance isn’t quite as strong as its competitors either which are seeing a significant bump in next quarter’s shipments and a nearly doubling of shipments in 2010. CSUN forecasts flat shipments this quarter and a 50 – 80% increase for the year.
I don’t see any comment from the CEO in the press release.. not sure I’d comment either after that quarter.
Shares of CSUN are down about 5% today, but holding up around key support of the $4 level. A close below the $4 level probably sets up a move to the $3.50 level.
:::: >>> Click Here For Your FREE China Sunergy Analysis
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A-Power Energy Generation Systems just announced that will work with US Renewable Energy Group and American Nevada Group to build a wind turbine production and assembly plant in Nevada. Once completed, the plant will be capable of producing 1,100 megawatts worth of advanced wind turbines each year.
The plant will also bring approximately 1,000 long-term jobs to Nevada, plus jobs generated by construction.
In a press release, John Lin, A-Power’s Director and COO, commented on the news:
“We are committed to clean energy development and this partnership, which will allow us to expand our presence in the American renewable energy sector and create over a thousand jobs in Nevada. A-Power highly values the opportunities in renewable energy in America and this state-of-the-art facility will be our first major manufacturing plant in the United States.”
:::: >>> Click Here For Your FREE A-Power Analysis
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MEMC Electronic Materials just announced that its division SunEdison has been selected to build a 72 MW solar power plant in Rovigo, Italy. The project is expected to be [...] Continue Reading…
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wfr
Clean Energy Fuels (CLNE) is up about 3% in after hours trading after beating Wall St estimates by a wide margin on the EPS side. The company reported an [...] Continue Reading…
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clean energy fuels,
clne,
earnings
Brigantine Advisors has initiated coverage on Suntech Power (STP) with a Hold rating. Hat tip to Street Insider for the following analyst comment: “Suntech is the world’s second largest [...] Continue Reading…
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stp,
suntech power
ReneSola (SOL) has reported earnings results this morning ahead of analyst estimates but the red ink continues to flow despite the best quarterly revenue number in over a year. [...] Continue Reading…
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SunPower just announced that it has been awarded a contract to provide SunPower T5 Solar Roof Tiles to generate up to 200 megawatts of solar energy. With this contract, [...] Continue Reading…
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spwra,
sunpower
Trina Solar (TSL) has announced that its subsidiary, Changzhou Trina Solar, has added another US order. They signed a sales agreement with Essco Wholesale Electric, a Sonepar USA company [...] Continue Reading…
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tsl