General Electric (GE) has already established a presence in the China wind energy market, supplying them with nearly 1000 wind turbines and today the company is announcing it will be a bigger player after securing a joint venture deal with a subsidiary of Harbin Power Equipment. The venture between the two companies will manufacture GE designed turbines for onshore and offshore wind farms. Harbin will be the majority owner with a 51% stake.
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China Wind Systems (CWS) which supplies components to wind turbine companies in China is out with strong guidance this morning and the stock is popping 25% as a result.
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The company sees FY10 revenues in the range of $76 – $85, representing about a 50% increase over 2009. The company sees non GAAP earnings between $15.5 – $16.3 million which is about double over last … Read the rest
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Sinovel is expected to begin installing its 5MW wind turbine prototypes within the next year with American Superconductor (AMSC) supplying the electrical guts of the system. AMSC announced it has received an initial order and expects to ship it out in the second half of this year.
Sinovel is China’s largest wind turbine manufacturer, shipping out 2400 1.5MW and 100 3MW turbines last year. It’s next generation … Read the rest