Yesterday A123 Systems (AONE) surged on news it received some government cash to develop utility scale battery storage systems. This morning, it’s EnerDel’s (HEV) turn. The company has announced that it will participate in a program to help develop Portland General Electric’s smart grid which is a project funded in part by the DOE. The DOE will provide around $90 million of the $178 million project.
EnerDel will build lithium batteries for five 1MW … Read the rest
Capstone Turbine (CPST) has received $3 million in grants from the DOE and Israel’s Binational Industrial R&D Foundation. The grant from the DOE will go towards the development of a flex fuel microturbine capable of running on biofuels (mostly from agricultural crop waste). The DOE will provide $2.5 of the $3.8 million project which will also include participation from the Argonne National Laboratory, the U of Cali at Irvine and Packer Engineering. Initial estimates show … Read the rest
A few minutes ago AMSC received yet another upgrade and it still isn’t budging much! Over the past couple months the company has made some bullish announcements and received upgrades from several analysts, but the stock is having a tough time getting going again. It continues to work on carving out a new base and making its way up the right side though.
Raymond James also came out minutes ago with an upgrade of the … Read the rest
A123 Systems (AONE) has been surging off the bottom over the past 30 minutes on news it will use $5 million from the US Dept of Energy to collaborate with Detroit Edison on a study to find out if electric car batteries can be bundled together to store emergency supplies of power for the electric grid. Detroit Edison, owned by DTE Energy, will bundle the battery packs containing 25 lithium batteries in 20 groups and … Read the rest
Akeena Solar just announced that they have signed a distribution partnership with Ontario’s Highland Solar. The deal paves the way for the distribution of at least 1.75 megawatts of Akeena Solar’s Andalay panels. Highland Solar will distribute the panels through its local installation network. This is Akeena’s first distribution agreement outside of the US.
In a press release, Akeena’s CEO Barry Cinnamon commented on the agreement:
“Canada is shaping up to be a large … Read the rest
First Solar just announced that it has sold its Blythe, California plant to NRG Energy. The energy produced by the 21 MW plant, California’s first and largest utility-scale PV project, will be sold to Southern California Edison under a 20-year purchase agreement. The plant is expected to generate 45,000 megawatt-hours of electricity annually, and will create a reduction in co2 emissions equal to taking 2,200 cars off the road.
First Solar will continue to provide … Read the rest
LDK Solar (LDK) surprised the St this morning by reporting a profit on a GAAP basis. I don’t see a non GAAP number in the report and wasn’t seeing an indication at first glance of any large one time gains, but will update this report if that’s the case. So on a GAAP basis which includes one time gains and losses, the company reported Q3 earnings of $0.27/share which smashed analyst estimates of a .10/loss. … Read the rest
Piper Jaffray is out reiterating its Overweight rating on American Superconductor (AMSC) this morning with a price target of $45.
Hat tip to StreetInsider.com for the following analyst comment:
“We reiterate our Overweight rating on increased visibility into China wind growth. Using a sum of the parts valuation, we value the AMSC Power Systems business at $44, based on ~34x our CY2010 segment GAAP EPS estimate of $1.30 (from $1.29) a premium with the leading … Read the rest
Sunpower just announced that it will be partnering with Etrion to build 4 solar power plants in southern Italy. Altogether, the plants will provide 4MW of solar energy. Sunpower will handle design, construction, operations and maintenance on the plants, which will use its “Tracker” technology.
The companies plan to break ground on the new construction by the end of November, and the plants should be up and running by late 2010.
In a press release,… Read the rest
The good news keeps rolling in for American Superconductor (AMSC) with a couple new orders and upgrades in the last week or so, but the stock doesn’t seem to want to move much on the news. Perhaps today it can get going on an upgrade from Needham from Hold to Buy. The firm has a $40 price target on it.
Also getting an upgrade this morning is Suntech Power (STP) which was upgraded from Sell … Read the rest