In Barrons magazine this weekend they highlighted some green energy stock plays across a variety of industries, focusing on those companies that are well established, diversified and financially healthy. They c all ABB, Waste Management (WMI), FPL Group (FPL), Jacobs Engineering (JEC) and Eaton (ETN) their green dream team.
ABB (ABB): large Switzerland company is one of world’s largest builders of electricity grids and was called the GE of Europe by Barrons several months ago. … Read the rest
Here’s the text of Obama’s speech last night related to energy:
We know the country that harnesses the power of clean, renewable energy will lead the 21st century. And yet, it is China that has launched the largest effort in history to make their economy energy efficient. We invented solar technology, but we’ve fallen behind countries like Germany and Japan in producing it. New plug-in hybrids roll off our assembly lines, but they will run … Read the rest
Although GE may deliver 14 percent fewer wind turbines worldwide in 2009, deliveries to China are up. GE says that its Chinese deliveries will double for the next two years as China’s wind market expands by leaps and bounds. From AIndianews.com, here are more details and comments from GE leadership:
… Read the restShipments will jump to 320 this year from 159 in 2008, and double again to 600 in 2010, Steve Fludder, head of GE’s environmental
Kaydon (KDN) which makes specialty ball bearings for wind turbines posted a 27% quarter over quarter profit drop from last year but beat analyst estimates of .41/share by posting .45/share excluding one time losses. Revenues increased over the year ago just a bit by 7%. Too bad its wind turbine business doesn’t make up more of the total revenue. That segment rose 78% over the year ago quarter making it by far its best performing … Read the rest
AMSC has announced that its subsidiary AMSC China has begun to ship electrical core components directly to its Chinese customers, including Sinovel. AMSC has been working with Sinovel since 2006 to supply China’s growing wind energy market. To date, more than 100 sets of electrical core components have been shipped to Sinovel, including the following (from an AMSC press release):
… Read the restAMSC’s core electrical components include the company’s proprietary PowerModule(TM: 63.772, -2.188, -3.32%)
EDP has signed an agreement with US-based Principle Power to construct a deep-water offshore wind project in Portuguese waters. Under the terms of the agreement, EDP will use Principle Power’s floating turbine technology to keep costs down while allowing energy to be collected in deep (more than 50 meters) water.
From Reuters, here’s more information on the project:
… Read the restIn a statement, EDP said the project will be developed in three phases, commencing with a
.. and that’s the positive. Trinity Industries (TRN) reported awful earnings after the bell today but you wouldn’t know it by looking at the press release headline: Trinity Reports Solid 4th Quarter Results. You wouldn’t know it by reading the comments of the CEO either: “Our fourth quarter results demonstrated the positive aspects of the diversification of our portfolio of businesses during a tough economy.” Oh yeah?
Here are the facts:
The company matched analyst … Read the rest
General Electric is considering building a wind farm in the Mirkovo region of Bulgaria. Recently, country’s Economy and Energy Minister met with GM’s Project Manager of GE Infrastructure-Energy to discuss the region’s suitability for wind power generation.
… Read the restGE experts have visited Bulgaria twice in 2008 to conduct preliminary research of the area. The results revealed the possibility of building a wind park with power between 150 and 500 MW. The research is
If you own shares of FPL group, one the country’s largest wind-power producers, here’s some good news for you: MSNBC reported that the company is raising its quarterly dividend by 6% . The new dividend, effective Friday, February 13th, is 47.25 cents per share. Last quarter, it was 44.5 cents per share. Also, FPL shares rose .51 during Friday afternoon trading, to $51.13. … Read the rest
Now that Congress has approved the economic stimulus package (aka the American Recovery & Reinvestment Act) with Obama expected to sign it into law on Tuesday I thought I’d give a run down of what’s in this bill related to green energy initiatives.
Overall, nearly 10% of the entire bill provides funding and tax credits for green energy related projects.
* $11 billion in spending and loan guarantees to build a “smart grid” to move … Read the rest