General Electric (GE) reported earnings Friday morning and I’ve now had a chance to go through the entire earnings report provided by Seeking Alpha and pick out all portions related to their smart grid wind turbine businesses. Overall, their Energy unit was the strongest performer with revenues up 7% and profits up 19% Unfortunately, that wasn’t due to wind turbine orders which were down 8% for the quarter. Although, when you consider that the 1st … Read the rest
Category Archives: Wind Energy
From Dependence On Foreign Oil to Chinese Neodymium?
There is a good article out in The Atlantic today discussing the concern of neodymium shortages, most of which is produced by China. Neodymium is a key component used in hybrid and electric cars as well as wind turbines to manufacture powerful, light weight magnets for high torque, efficient performance. It should be noted that neodymium is also used in data storage devices and just about every computer, so the supply crunch is very … Read the rest
GE (GE) And Vestas Wind Systems (VWSF) Take 56% Of US Market
Together, General Electric Company and Vestas Wind Systems took a combined 56% of the US market in 2008, selling an unprecedented 4,648 megawatts. Overall, wind power installations rose by 58% last year, with a total of 8,300 megawatts. Employment in the wind industry was also up to 85,000 employees, an increase of 70 percent, here are statistics from last year for the leading wind companies:
GE, based in Fairfield, Connecticut, retained the lead in largest … Read the rest
Vestas Wind Systems (VWSF) Gets Turbine Orders From Italy And Romania
Vestas Wind Systems just announced that it has received turbine orders from Romania and Italy. The Italian order consists of 37 V90-2MW wind turbines to be installed in Sardinia for EDF Energies Nouvelles. Here are the details of the order, from Power Engineering International:
… Read the restThe contract includes supply, installation and commissioning of the turbines and a five-year service agreement. The wind turbines will be delivered to a project in the municipality of Bonorva in
Vestas Wind Systems (VWSYF) Hosts Royal Groundbreaking Ceremony For CO Turbine Plants
On Wednesday, Vestas Wind Systems broke ground on two wind turbine manufacturing plants in Brighton, Colorado. Once completed in 2010, the plants will employ 1,350 people. Vestas is building a wind turbine blade factory as well as a nacelle assembly plant. In addition to these facilities in Brighton, Vestas also plans to build a plant in Pueblo to make wind turbine towers.
Crown Prince Frederik André Henrik Christian and Crown Princess Mary Elizabeth attended the … Read the rest
Vestas Wind Systems (VWSYF) To Form Research Partnership With Boeing (BA)
Vestas Wind Systems announced that it will co-operate with Boeing on new research in advanced eco-friendly aeromechanics. The companies intend to start by identifying areas in which they are both proficient, and then to engage in mutually beneficial research projects. Researchers from both companies are expected to begin identifying potential projects this year.
Jan Narlinge, President of Boeing in Northern Europe, says that the collaboration will benefit both companies:
There’s a strong correlation between new … Read the rest
Capstone Turbine (CPST) Sells C200 Microturbine To Shanghai Skyscraper
Capstone Turbine Corporation has sold a C200 Microturbine wind energy system to a Shanghai high-rise. The 14-story Shanghai Shenergy Energy Center will be the first building in Shanghai to use Capstone’s low emission, natural gas powered microturbine to produce clean energy.
In a company press release, Darren Jamison, Capstone President and Chief Executive Officer, commented on the sale:
"Worldwide interest in Capstone’s C200 product has been strong since it was introduced over a year ago. … Read the rest
Clean Energy & Climate Change Funds in the Omnibus Bill
A hat tip to Earth2Tech for laying out the components in the $410 omnibus bill that represent clean energy and climate change. The “imperfect omnibus bill” was signed into law by Obama today behind closed doors. Here’s to more government waste but at least there are some clean energy bucks in there..
* EPA gets $7.6 billion (increase of $174 million over last year). $224 million for grants to states to implement the Clean Air … Read the rest
AeroVironment (AVAV) Crushed 25% After Poor Earnings
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
Timken (TKR) To Supply Nanjing High Speed Gear Manufacturing Co.
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