Covanta Holdings Corp just announced the purchase of 7 energy-from-waste facilities from Veolia Environmental. Covanta is paying $450 million in cash for the 7 facilities, which are expected to generate $60 million in operating cash flow for the company next year in 2010.
In a story posted on Reuters, the company released the following statement about the purchase:
“Each of the seven EfW businesses to be acquired includes a long-term operating contract with the … Read the rest
Advanced Environmental Recycling Technologies is trying to maintain its place on the NASDAQ stock exchange, but the company is moving ever closer to being de-listed, according to this press release. On June 26, AERT received a NASDAQ Staff Determination letter advising the company that its request to stay on the exchange has been turned down. The company has a recapitalization that it believes will allow it to regain compliance, but the plan’s timeline is … Read the rest
LDK Solar just announced that is has revised its outlook for the 2nd quarter. According to Reuters, the revised outlook is still disappointing, with revenue down from $283.3 million in the first quarter to between $215 to $225 million in the second quarter. The estimates are between $25 and $35 million lower than what analysts had expected, as well. However, the company did raise the amount of second-quarter wafer shipments that it expects to ship … Read the rest
Tate posted last month about speculation that Suntech was working on a 500MW deal in China. Today, Suntech’s press office confirmed the deal for PV-tech.org. The article quotes an unnamed source from Suntech as saying that the deal is “a non-binding strategic agreement similar to our agreement with the Qinghai government.” Suntech reportedly signed the agreement on June 26th.
Under the agreement,Suntech will invest almost $1.2 billion in a 500MW solar project in … Read the rest
Itron just announced that it is partnering with Ambient Corporation to integrate Itron’s smart grid and AMI components with Ambient’s smart grid communications platform. The partnership, created under a memorandum of understanding signed by both companies, will allow Itron and Ambient to join together and provide a complete smart grid system for utility customers.
The agreement will integrate Itron’s OpenWay advanced metering application with Ambient’s Smart Grid communications technology. This will enable legacy equipment to … Read the rest
Suntech Power just announced that it has obtained a convertible loan for $50 million from International Finance Corporation. The 7-year loan agreement carries a fixed annual interest rate of 5.0 percent and can be converted into an ADS share for $18 per share.
In a press release, Dr. Zhengrong Shi, Suntech’s Chairman and CEO, commented on the loan:
“We are pleased that IFC, a world class investment institution that supports sustainable development, has agreed … Read the rest
In an effort to reduce the costs associated with energy use for streelights, the city of Palo Alto, California is demonstrating streetlights equipped with Echelon’s LonWorks technology. Echelon’s technology allows the lights to be managed remotely, as well as connecting them directly to maintenance software. By replacing all of its streetlights with more efficient models by 2015, the city will also reduce the amount of greenhouse gases it produces by 600 to 950 metric tons … Read the rest
Aerovironment just announced that it has received a phase II contract extension from DARPA for its nano air vehicle development program. For the program, Aerovironment has developed an air vehicle with two flapping wings that carries its own energy, and successfully tested the vehicle in December of last year. The contract extension, which provides an additional $2.1 million and runs through 2010, will enable further development of this concept.
In a company press release, project … Read the rest
Yingli Green Energy just announced that it will supply its PV solar modules to SDIC Huajing. Yingli was selected by SDIC Huajing to supply the company with solar modules to power its 10 MW on-grid solar power plant project in Dunhuang, Gansu Province. The plant has already been given the green light by the province’s Development and Reform Commission.
In a company press release, executives from both companies commented on the agreement:
“We are … Read the rest
According to 24/7 Wall St, JP Morgan (JPM) is out with several solar ratings changes this morning, most notably an upgrade of Evergreen Solar (ESLR) two notches to Overweight with a doubling of the price target to $5/share. Shares are trading up about 6% in premarket trading. First Solar (FSLR) continues to get hit with cautious analyst comments and downgrades with JP downgrading it this morning from Overweight to Neutral due to a fear … Read the rest