Johnson Controls-Saft has a new 5 year supply agreement with Azure Dynamics, Inc. Under the contract, Johnson Controls-Saft will supply Azure Dynamics with 20,000 lithium-ion batteries to power hybrid delivery trucks and other commercial vehicles. The battery cells will be produced at Saft’s plant in France and then shipped to the US, where Johnson Controls will assemble them into a hybrid battery. The first of these batteries should be on the road in 2010.
All posts by Tate Dwinnell
Xcel Energy (XEL) Seeks Funding For Clean Energy Research
Xcel Energy has requested permission from the Colorado Public Utilities Commission to raise $6 million per year for clean energy research. The funds would be raised by adding a nominal fee to customers’ bills. Most residential customers would pay an extra .14 per month, and most small businesses would see a .22 increase.
According to the Denver Business Journal, here’s what that money would go toward:
… Read the restXcel (NYSE: XEL) says it wants to test small
Xcel Energy’s (XEL) Grand Meadow Wind Farm Producing Energy In Minnesota
Xcel Energy announced today that its first wind farm in Minnesota is now in operation. The 100.5-megawatt Grand Meadow Wind Farm has been contributing electricity to the grid since December 4th.
From TwinCities.com, here’s a rundown of Xcel’s current wind power capacity:
… Read the restWith the addition of the Grand Meadow project, Xcel Energy has more than 1,200 megawatts of wind-powered generation on its Upper Midwest system. The company plans to have 4,000 megawatts of wind power
Xcel Energy (XEL) Wind Power Settlement Considered
A judge is considering a $2.6 million settlement offer from Xcel Energy over regulators concerns that Xcel may have overbilled consumers for its wind energy program, Windsource. Through the Windsource program, 47,000 Xcel Energy customers pay extra to Xcel to support the generation of wind power. What was the problem with the program? According to KJCT8.com,
… Read the restStaff of the Colorado Public Utilities Commission contend Xcel sold credits from 2005 to 2007 for more wind
Army Corps Of Engineers Weigh In On AES Corp’s (AES) Proposed LNG Facility
Yesterday, we reported that the DOI requested approval of AES Corporation’s proposed LNG facility at Sparrows Point in Chesapeake Bay be put on hold to better study the potential impact of the project on local wildlife. Now, the Army Corps of Engineers is weighing in, saying it will deny AES’ application for a permit for the project until these concerns are addressed.
The Baltimore Sun reports that the company won’t get permits for the facility … Read the rest
Itron, Inc. (NASDAQ:ITR) Updates 2008 Guidance
Itron, Inc. affirmed its full year 2008 guidance yesterday. The company expects to perform within the guidelines it released in October:
Revenue: Between $1.91 billion and $1.93 billion
Diluted Non-GAAP Earnings Per Share: between $3.35 and $3.45 per share
Adjusted EBITDA: Over $280 million
However, the company expects the final number to fall on the lower end of the ranges given above. They also confirmed their predictions for growth in 2009. The company expects … Read the rest
Green Plains Renewable Energy (GPRE) Forms Algae Venture At Shenandoah Plant
Green Plains Renewable Energy just announced that it will work with several other companies to begin producing biodiesel and ethanol from algae. Other companies involved in the venture include Clarcor Inc, a filtration products manufacturer from Tennessee; BioProcessH20 LLC, a photobioreactor and filtration system developer that will license the advanced photobioreactor technology used in converting the algae to fuel and NTR PLC, a company based in Ireland.
According to Ethanol Producer Magazine, "The size, scope … Read the rest
LDK Solar (LDK) Delays Polysilicon Production Expansion
LDK Solar announced yesterday that it has delayed two polysilicon projects with a total production capacity of 6,000 tons. Originally, LDK had planned to increase its 2008 production capacity by 6,000 tons. According to TradingMarkets.com, 5,000 tons of that amount was supposed to come from a 15,000-t/y polysilicon project and 1,000 tons was supposed to come from from a 1,000-t/y polysilicon project. However, the 15,000 t/y polysilicon project will not be online until the middle … Read the rest
Suntech (STP) Cuts 800 Jobs
Suntech’s pre-global financial crisis plans included hiring 2000 more employees and expanding its capacity to 1.5 GW in 2009. Instead, plans for expansion have been put on hold, and the company has laid off 800 of its employees, 10% of its workforce. According to TradingMarkets.com, the cuts were made on the basis of competency, with the least competent employees being laid off.
TradingMarkets.com also offered some further analysis on Suntech:
… Read the restThe company’s plants are running
VeraSun Energy (VSE) Suspends Ethanol Production At 3 Plants
More bad news for ethanol…VeraSun Energy has suspended production at 3 of its distilleries: Bloomingberg, Albion and Ohio. The plants stopped running in the latter part of December, with the company citing higher corn costs and less demand from ethanol as the reasons behind the closure.
Justice Sirikah over at HotStocked.com notes that this isn’t the first time this has happened:
… Read the restThis is the second time that VeraSun has taken such an extreme measure since