Greenhunter Energy just announced that it has sold 100% of its ownership interest in Guangdong MingYang Wind Power Technology Co., Ltd to DT Capital China Growth Fund L.P for a cool $9,110,000.
In a press release, Mr. Gary C. Evans, Chairman and CEO of GreenHunter Energy, Inc., explained why selling this investment makes sense and how it will impact the company:
“When we originally made this investment in late 2007, the primary purpose was … Read the rest
China Technology Development (CTDC) surged over 30% today with heavy volume after they announced a plan to acquire a 51% equity interest in China Technology Solar Power. Upon closing of the deal, the two companies will develop a 100MW grid connected solar project in Delingha City in the Quinghai Province. CTDC believes the purchase will further its goal of becoming a fully integrated solar company with the capability to design, build and operate solar plants. … 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
LDK Solar (LDK) gapped up about 10% this morning after the company raised guidance but finished around the lows of the day, up just under 2%. The stock just can’t seem to get anything going.
The company now expects to report revenues of between $270 – 290 million (up from previous estimates of $240 – 270 million) with shipments in the range of 310 – 330MW (up from previous guidance of 260 – 300MW) when … Read the rest
I came across a Reuters article today discussing the Itron (ITRI) earnings report tomorrow and they believe (along with a few analysts) that Itron will report poor results tomorrow after the bell due to a cut back on spending from utilities, but are bullish longer term. I would like nothing more than for Itron to miss by a wide margin tomorrow so that I can continue to add to a long term position at a … Read the rest
SunPower (SPWRA) announced yesterday that they have produced a world record, full sized 333kW solar panel with a 20.4% efficiency rate. The record beating efficiency for a full sized panel was confirmed by the National Renewable Energy Lab. The prototype solar panel was developed using DofE funds under the Solar America Initiative (SAI), awarded two years ago. It doesn’t happen very often, but it’s nice to see tax payer dollars put to good use! … Read the rest
Valence Technologies (VLNC) announced this morning a two year supply deal with Tennant (TNC) for its lithium phosphate batteries to be used in Tennant’s new compact floor scrubber. The lithium powered scrubber will be tested next month with full production scheduled a few months later. No word on the financials of the deal.
“Growing acceptance of our safe lithium phosphate energy storage solutions across industrial applications reflects the performance, reliability, flexibility and immediate availability of … Read the rest
Joined by VP Joe Biden today, Fisker executives announced inside an old GM facility that they will begin using the facility to support Fisker’s Project NINA with the goal of producing a family oriented plug-in hybrid sedan costing less than $40K. It’s a ways off though. The company won’t begin production in the facility for at least three years and won’t get up to full capacity for at least five years.
Quantum Fuel (QTWW) is … 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
JANCO Partners upgraded Sunpower (SPWRA) this morning from Accumulate to Buy because they believe the sell off after earnings is overdone.
Hat tip to StreetInsider.com for the following analyst comment:
“We are upgrading the stock to a Buy rating based on the upside potential in the stock given the recent pullback since the company announced earnings on 10/22/2009. With the pullback the stock is currently trading at 14.9X our FY2010 EPS estimate of $1.82, which … Read the rest