American Superconductor (AMSC) is up about 3% in premarket trading after affirming 2009 guidance and guiding 2010 EPS above analyst estimates. For 2009, the company sees revenues of $300 – 310 million and an EPS of .59 – .64 both of which are about what analysts expect. For 2010, the company sees revenues of more than $400 million and an EPS of more than $1.15 which is significantly greater than the $1.04/share analysts are estimating … Read the rest
Category Archives: Wind Energy
American Superconductor (AMSC) Corp Gets Order From Hyundai
American Superconductor Corp just announced that Hyundai Heavy Industries Co., Ltd. has placed a follow on order for 30 sets of electrical control systems to be used in AMSC’s 1.65 MW wind turbines. Hyundai also ordered electrical control systems for their own 2 MW turbine prototype from AMSC. All of the equipment ordered by Hyundai is scheduled to be shipped by May of next year.
In a press release, Timothy Poor, AMSC’s Senior Vice President … Read the rest
American Superconductor Corp (AMSC) Receives $10 Million Turbine Component Order From CSR-ZELRI
China’s CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd. (“CSR-ZELRI”) has just placed a follow-on order with American Superconductor Corp for $10 million worth of wind turbine core electrical components, according to this . CSR-ZELRI will use the parts to build turbines using the 1.65 MW wind turbine design it licensed from AMSC’s subsidiary, AMSC Windtec. This is the largest that CSR-ZELRI has placed thus far, bringing the total amount of orders placed with AMSC … Read the rest
US Renewable Energy Group And A-Power (APWR) To Cooperate On Wind Turbine Plant
The US Renewable Energy Group and A-Power just signed a cooperation agreement to develop a new US wind turbine production and assembly plant. Once completed, the planned 3,200 square foot plant will be capable of producing 1,100 MW worth of advanced wind turbines every year.
The plant will employ 1,000 workers, as well as creating jobs in construction and in manufacturing the component parts of the wind turbines, which will be sourced here.
In a … Read the rest
Bluewater Wind Purchased By NRG Energy (NRG)
NRG Energy just announced that it has acquired Bluewater Wind, which has several offshore wind projects in its pipeline along with a 25-year, 200MW power purchase agreement with Delmarva Power and Light in Delaware. According to NRG, Bluewater’s employees will keep their jobs and continue to work from their current location in Hoboken, New Jersey.
in a press release, NRG’s president and CEO, David Crane, commented on the purchase:
“As public policy trends toward … Read the rest
A-Power Generation Systems (APWR) Selected To Supply West Texas Wind Farm
A-Power Generation Systems just announced that they will supply a 600 MW wind farm in West Texas as a part of a joint venture between Shenyang Power Group the U.S. Renewable Energy Group and Cielo Wind Power LP. Under the agreement, the joint venture will purchase 240 units of 2.5MW wind turbines from A-Power, with delivery tentatively scheduled to start in March 2010.
In a press release, Mr. Jinxiang Lu, Chairman and CEO of A-Power … Read the rest
American Superconductor (AMSC) Beats, Raises Guidance, UP 10%
American Superconductor (AMSC) reported another impressive quarter, beating analyst estimates by a wide margin. The company posted EPS of .19/share which was .07 better than expectations . They posted a loss in the year ago quarter. Revenues were strong as well at $74.7 million and about 10% ahead of analyst estimates (85% greater than year ago quarter). They are also raising their full year 2009 revenue guidance from $260 – $270 to $300 – 310 … Read the rest
Greenhunter Energy (GRH) Sells Equity Ownership Interest In Guangdong MingYang Wind Power Technology Co., Ltd
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
FPL Group (FPL) Missed Earning Estimates & Guided Lower
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
JANCO Upgrades American Superconductor (AMSC) Ahead Of Earnings
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