Here are the lowlights for the Otter Tail (OTTR) quarter. The company reports an EPS of .07/share, missing estimates by .04/share and under performing from the year ago quarter by 36%. Revenues missed estimates badly as well coming in at $247 million vs the estimates of $304 million and representing a 24% drop from the year ago quarter. To top it off, the company is lowering guidance for 2009 to .70 – 1.10 from .80 … Read the rest
Category Archives: Wind Energy
Vestas Wind (VWSYF) Plant Closure Protests Continue, Company Goes To Court
Employees at the Isle of Wight Vestas Wind (VWSYF) turbine plant continue to protest company plans to close down the plant and eliminate hundreds of jobs due to weak demand and lack of government initiatives to promote green energy. CEO Ditlev Engel said building wind turbines in Britain was “extremely time-consuming and extremely complicated”.
The goal of the employees is to force the government hand in providing more funding for green energy projects, just as … Read the rest
American Superconductor (AMSC) Smashes Estimates, Issues Strong Guidance
More good news on AMSC. I reported last night that they have increased the size of their contract with Sinovel. This morning, American Superconductor (AMSC) reported another very strong quarter, smashing estimates on both EPS and revenue. The company posted .12/share on the EPS side vs the expectations for a flat quarter on revenues of $73 million (83% increase over year ago quarter), better than $12 million ahead of the estimate. It’s also increasing … Read the rest
American Superconductor (AMSC) Amends Sinovel Contract To Meet Increasing China Wind Energy Demand
American Superconductor (AMSC) announced this evening that they are increasing their shipments to China’s largest wind turbine manufacturer Sinovel in order to meet increased demand. The amended contract will increase the number of AMSC’s PowerModule PM3000MW power converters which allows Sinovel to include grid friendly features with its wind turbines, such as controlling power flows, regulating voltage, monitoring system performance and maximizing efficiency. The overall contract value increases by $20 million for AMSC.
“Sinovel has … Read the rest
Capstone Turbine (CPST) Nets New Distributor For Kansas, Arkansas and Missouri
Capstone Turbine announced on Monday that has added a new distributor for its products in Kansas, Arkansas and Missouri: Interstate Power Solutions, a company that has been supplying electrical systems to Midwestern companies for over 25 years.
In a press release, executives from both companies commented on the partnership:
“Interstate has a successful track record of working with companies throughout the Midwest to help improve their energy systems,” said Jim Crouse, Capstone’s Executive Vice … Read the rest
A-Power Energy (APWR) Acquires 1.5MW Wind Turbine Technology & Operations From Shenyang Hauren
A-Power Energy (APWR) is acquiring Shenyang Huaren’s proprietary wind turbine technology and operations to commercially produce 1.5MW grade turbines, the company has announced. Shenyang will train and direct A-Power engineers on assembly, installation and testing for the next three years. APWR will also fulfill Huaren’s back order of 10 wind turbines as part of the deal. … Read the rest
FPL Group (FPL) Reports Mixed Results; Strength In Clean Energy Division
FPL Group (FPL) which is the largest producer of solar and wind power in the US reported solid earnings this morning, driven by strength in its NextEra Energy Resources business (profits up 30%).
“Our earnings for the quarter were solid overall, with lower year-over-year earnings at Florida Power & Light Company more than offset by the performance of NextEra Energy Resources. While the Florida economy is quite challenging, we are delivering exceptional value to FPL … Read the rest
Upgrades/Downgrades: STP to Sell, TRN & JASO to Buy; ORA Upgraded to Accumulate
Hat tip to StreetInsider.com for the following upgrade/downgrade notes:
Hapoalim downgrades Suntech Power (STP) to Sell with a $9 price target, citing escalating solar module price war.
The firm said, “Evidenced by Ersol’s recent decision to adjust the mid-point of its CY09 EBIT guidance to “negative” vs. +12% before (due to a “sig. drop in prices of solar modules”), we believe “Tier 1” module vendors are beginning to react to price aggression by Chinese solar … Read the rest
Renewable Energy Gets A $3 Billion Government Infusion
The US government announced today that they’ll soon begin accepting applications for around $3 billion in government funds to spur development in renewable energy across the country. Previously, companies could file for a tax credit to cover a portion of development costs, but this provides an immediate infusion of cash to help meet the government’s goal of doubling renewable energy production over the next 3 years.
“This partnership between Treasury and Energy will enable both … Read the rest
ITC Holdings (ITC) Green Power Express Motoring Along With MDU Resources Alliance
ITC Holdings (ITC) may be the biggest player in the build out and upgrade of transmission lines in order to distribute renewable energy across the US. The company solidifies that with a key ally in its Green Power Express initiative – MDU Resources Group (MDU). Today, ITC announced an agreement with MDU Resources to collaborate on design and development of the project and a possible investment in Green Power Express LP down the road.
The … Read the rest