NRG Energy just announced that it has acquired Bluewater Wind, which has several offshore wind projects in its pipeline along with a 25-year, 200MW power purchase agreement with Delmarva Power and Light in Delaware. According to NRG, Bluewater’s employees will keep their jobs and continue to work from their current location in Hoboken, New Jersey.
in a press release, NRG’s president and CEO, David Crane, commented on the purchase:
“As public policy trends toward … Read the rest
A-Power Generation Systems just announced that they will supply a 600 MW wind farm in West Texas as a part of a joint venture between Shenyang Power Group the U.S. Renewable Energy Group and Cielo Wind Power LP. Under the agreement, the joint venture will purchase 240 units of 2.5MW wind turbines from A-Power, with delivery tentatively scheduled to start in March 2010.
In a press release, Mr. Jinxiang Lu, Chairman and CEO of A-Power … Read the rest
American Superconductor (AMSC) reported another impressive quarter, beating analyst estimates by a wide margin. The company posted EPS of .19/share which was .07 better than expectations . They posted a loss in the year ago quarter. Revenues were strong as well at $74.7 million and about 10% ahead of analyst estimates (85% greater than year ago quarter). They are also raising their full year 2009 revenue guidance from $260 – $270 to $300 – 310 … Read the rest
The nation’s largest provider of renewable energy power disappointed investors this morning by missing analyst estimates and guiding lower for this year and next. FPL Group (FPL) reported a non GAAP EPS of 1.38/share, missing estimates by .03. Revenues were disappointing as well coming in at $4.47 billion which was a 17% decline from the year ago quarter. To make matters worse, the company is lowering guidance. For 2009, the company now expects an EPS … Read the rest
JANCO Partners upgraded American Superconductor (AMSC) from Market Perform to Accumulate ahead of its earnings report on Thursday.
Hat tip to StreetInsider.com for the following analyst comment:
“In view of the recent pullback in the stock price and continued momentum of the Chinese wind market benefiting AMSC, we are upgrading the stock to Accumulate. We believe that the company has a reasonable chance of outperforming Street expectations given that Sinovel accelerated their ramp schedule of … Read the rest
Duke Energy just announced that they have 2 new wind farms up and running: the 70 North Allegheny Windpower Project in Pennsylvania, which will sell power to FirstEnergy under a long-term Power Purchase Agreement, and the 42-MW Silver Sage Windpower Project in Wyoming, which will sell power to Cheyenne Light Fuel & Power and Platte River Power Authority.
The power produced by these two plants gives Duke a total wind power capacity of 634 MW. … Read the rest
FPL subsidiary NextEra Energy Resources just announced that it is in the process of purchasing 3 wind farms from Babcock and Brown. Together, the wind projects are capable of producing 184.5 megawatts of power.
Per the agreement, which still needs regulatory approval, NextEra will pay something along the lines of $352 million for the following wind farms:
Majestic Wind Energy Center, a 79.5 MW wind farm located in Carson County, Texas, that sells power to … Read the rest
American Superconductor (AMSC) has landed another contract from China’s largest wind turbine company Sinovel. This time it’s a big one – $100 million to be exact. AMSC will supply Sinovel core electrical components for its 3MW wind turbines and begin shipping in March of next year.
“Over the course of the past four years, Sinovel has transformed from start-up mode into China’s largest wind turbine manufacturer,” said Greg Yurek, founder and chief executive officer … Read the rest
American Superconductor (AMSC) has received a 2nd order for its D-VAR system for a Chinese smart grid and will deliver it to China National Machinery Industry Complete Engineering (note to China: shorten your company names!) by the end of this year. CMCEC will use the D-VAR to meet local grid interconnection requirements for Phase 1 of the Guanting Wind Farm which is ultimately expected to provide 150MW of wind power once completed. Furthering AMSC’s push … Read the rest
The green stock earnings continue to come in fast and furious and I’m a bit behind .. Zoltek (ZOLT), the maker of carbon components for wind turbines missed analyst estimates badly and swung to a loss in the quarter. Analysts had expected a profit of .07/share in the quarter, but the company posted a .04/share loss which indicates significant deterioration over the year ago quarter when the company posted a .12/profit. Revenues continue to plummet … Read the rest