JA Solar (JASO) gapped up big out of the gates this morning after reporting a wider loss of .11/share on a non GAAP basis, but beating revenue estimates of $118 by reporting $143.5 in revenue. It has reiterated its guidance for revenues this year in the range of $830 – 952 million which should put the company close to analyst expectations of $854 million.
The company remains fairly liquid with $282 million in cash and … Read the rest
Exelon Energy has introduced a new product, the Emission-Free Energy Certificate, to help its business customers demonstrate their environmental commitment to the public. The certificate will be offered initially to existing commercial and industrial customers as part of a pilot program.
Each certificate will cover a certain amount of renewable energy. Customers who purchase solar PV, solar thermal, wind or wave energy would be eligible for certificates showing the amount of emissions-free energy purchased. The … Read the rest
AeroVironment (AVAV) isn’t being treated all that well by traders in after hours trading. The company missed by a wide margin on both EPS, reporting .06 lower than analyst estimates at .21/share (a 25% haircut over the year ago quarter) and on revenues, reporting just $52.2 million in the quarter. That was $13 million lower than expectations and just an 8% bump over the year ago quarter. Needless to say the stock is getting punished … Read the rest
Ormat Technologies Inc. just announced that it has signed a financing agreement for the Olkaria III geothermal project in Naivasha, Kenya.The geothermal power plant produces 48 MW of power, approximately 6% of Kenya’s total energy output.
From GlobesOnline, here are the details of the financing agreement:
… Read the restThe first disbursement of approximately $90 million under the 10-year project finance loan is expected within the next two weeks. The lender group of European Development Finance Institutions (EDFIs)
They put two hybrid electric future heavy trucks through Military Utility Assessment at Fort Lewis, Washington. The two trucks, which are equipped with UQM 120 kW) hybrid electric propulsion systems, have already passed a test run at the U.S. Army’s Aberdeen and Michigan Proving Grounds.
William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc, commented on the tests:
“We are pleased to be a member of the Armor Holdings team and have … Read the rest
Raser Technologies Inc. is preparing to send geothermal power to the city of Anaheim as early as next week. The power will come from Raser’s Thermo plant in Utah. The plant has already been supplying some power, approximately 3.5 MW, to the city of Anaheim, and next week the company will begin to increase the amount of power that it sends.
Steven Brown, Raser’s executive VP, commented on the news:
… Read the rest“We are very pleased with
Timken Company just announced that it has signed a long-term agreement with Nanjing High Speed Gear Manufacturing Co, LTd. Under the terms of the contract, Timken will supply Nanjing with tapered and cylindrical roller bearings. Nanjing will use the bearings in its wind power gearboxes.
Mike Connors, president of Process Industries at Timken, commented on the contract:
“This is another great success for Timken in the China wind energy market sector. NGC is a globally … Read the rest
PowerSecure Intl (POWR) is announcing $10 million in new orders from utilities and businesses for its smart grid and efficient LED lighting systems. Orders include:
– Interactive Distributed Generation (IDG) Systems: smart grid enabled distributed generation systems supported by PowerSecure’s monitoring team who forecast peak electricity demand and deliver more efficient power when needed and ensure customers are protected against power loss
– NexGear Systems: switchgear systems and electronic controls to connect the grid to … Read the rest
MarketWatch reports that BorgWarner has announced it will stop paying its quarterly dividend temporarily, until global economic conditions become more favorable. According to Timothy Manganello, chairman and CEO, BorgWarner will start return to paying its .12/share quarterly dividend "as soon as the automotive industry returns to a normalized level of activity."… Read the rest
Gemini Solar, a joint venture between Suntech and MMA Renewable Ventures, has been selected to build a 30 MW solar power plant that will provide power for Austin, Texas. The plant, which should be online by the end of next year, will produce enough power for 5,000 homes and save 30,000 tons of carbon dioxide each year.
Steven Chan, Suntech’s Chief Strategy Officer and President of Global Sales and Marketing, commented on the news:
… Read the rest"Suntech