Yesterday, Ocean Power Technologies (OPTT), reported a wider loss in fiscal year 08 despite a surge in revenues (although quarterly revenues have been decelerating over the past 2 quarters). The net loss widened to 14.66 million on revenues of 4.77 million from 9.64 million in the previous year on revenues of 2.53 million.
Ocean Power is certainly pinning its hopes on the success of the PowerBuoy wave energy system which it is putting quite a … Read the rest
Citron Research just released a report on Ener1 (HEV) declaring that the company “has no path to profitability and no evidence of widespread commercial acceptance of their product.”
Citron goes on to say that this “corporate shell” company has a history of failed businesses based on exaggerated promises which include everything from video games to visualization software to set top boxes.
They just got into the lithium battery business by purchasing Delphi’s years … Read the rest
Southern California Edison selected First Solar (FSLR) to engineer and supply the PV power plant system for a 2 MW project to be installed atop a commercial building. SCE plans to do 250 installations atop commercial buildings over the next 5 years which is the largest rooftop solar program ever proposed by a US utility.
In addition, the California Public Utilities Commission approved the project terms of a 20 year power purchase agreement between FSLR … Read the rest
Trina Solar (TSL) said it expects 2nd quarter revenue at 200 – 205 million while analysts had expected 174 and also said it expects to meet or beet its 2008 revenue target of 770 – 808 million. “We are very pleased with our strong growth in the second quarter,” said Trina Solar Chairman and CEO Jifan Gao said… Read the rest
LDK Solar (LDK) just got a 10 year contract with Photovoltech to supply multicrystalline solar wafers to Belgium based Photovoltech. LDK will begin supplying the wafers in 2009 with a total of 400MW over the 10 years
“We are very pleased to enter into this long-term agreement with Photovoltech,” stated Xiaofeng Peng, Chairman and CEO. “This most recent supply contract further displays the strong demand for our wafers and also enables us to continue expanding … Read the rest
In his mad money TV show Tuesday, Cramer says “I think Thursday will be a landmark day for wind power”. Why Thursday, because coming Thursday Texas Public Utility Commission makes an important ruling that will significantly boost wind power in the state. Also at 4 cents per kilowatt, Cramer says wind energy is the cheapest form of renewable energy.
… Read the restThis proposal/ruling will create 8 renewable energy zones in the state, which will provide much
FPL just received approval from the Florida Public Service Commission to begin construction on 3 solar energy centers that will put Florida on the map as the largest supplier of utility generated solar power in the nation.
"Today’s decision by the PSC represents a major step forward in making Florida a leader in solar power generation. At a time of record-setting fossil fuel prices and concern over global climate change, solar power helps to meet … Read the rest
Solarfun (SOLF), the Chinese manufacturer of PV cells, has just announced the passing of its COO Hanfei Wang, who played a key role in the company’s growth strategy. Chairman Yonghua Lu, stated, "We are deeply saddened by Hanfei’s sudden and unexpected death. He was a leader in every respect – professional, passionate and driven to achieve excellence for Solarfun and his colleagues."… Read the rest
Evergreen Solar (ESLR) announced the largest contract in it’s history an hour ago. It’s a long term contract of $1.2B with German based IBC Solar and extends through 2013 which brings the total contractual backlog to $3 billion with 5 different customers.
“We are very pleased to begin this significant long term relationship with IBC SOLAR, the largest PV distributor in the world”, said Richard M. Feldt, Evergreen Solar’s chairman, president and chief executive officer. … Read the rest
BioFuel Energy Corp. said Wednesday that ethanol production has begun at new plants in Nebraska and Minnesota.
The facilities in Wood River, Neb., and Fairmont, Minn., will have the combined capacity to produce 230 million gallons of fuel and 720,000 tons of dried distillers grains, a byproduct often sold as animal feed, per year.
The plants are located next to decades-old Cargill grain elevators and Union Pacific (nyse: UNP – news – people ) … Read the rest