A-Power Energy (APWR) is skyrocketing this morning after the company reaffirmed earnings guidance on Friday night with plans to conduct a conference call October 15th at 9AM EST.
John Lin, A-Power’s Chief Strategy Officer and Interim Chief Financial Officer, “We want to reaffirm our earnings guidance, while also noting we anticipate our third quarter 2008 financial statement review will be finalized within the next 30 days, when we will schedule our third quarter earnings call.”… Read the rest
There are some good reports over at CBS Marketwatch on alternative energies, such as a report about the nations first offshore wind farm, a look at one homeowner who has installed a 45 ft wind turbine in her backyard as well as a few reports on the US power grid. A future report takes a look at the recent extension of tax credits for renewable energies as part of the recent package and a … Read the rest
New Jersey announced that Garden State Offshore Energy, a joint venture between PSE&G Renewable Generation and Deepwater Wind, to build a $1 billion wind farm off the coast of New Jersey. Located about 16 miles southeast of Atlantic City, the plant would produce 345 MW of clean wind power once completed, enough to power 125,000 New Jersey homes.
The wind farm is part of a push by New Jersey to increase the amount of renewable … Read the rest
A-Power Energy (APWR), once a high flying China wind play now trading less than 6 bucks a share is announcing some decent contracts. Today, it announced the 2nd contract with China National Automation and this one is 10x the size of the previous contract announced just a few days ago. Under this contract APWR will deliver 50 2.7MW wind turbines by July of next year.
Said the CEO, “We are currently in late-stage discussions … Read the rest
GE Energy announced that it has already received more than 1 GW worth of commitments to purchase its 2.5xl wind turbine over the next 18 months-enough to power 1 million households. The 2.5xl turbine is GE’s most advanced turbine model to date, and is more efficient, reliable and has a better capacity to connect to the grid than previous turbines. GE has invested $100 million to launch this turbine, and will also expand its … Read the rest
Capstone Turbine Company reported that it has received a follow-on order worth $4.7 million for 3 C1000 Microturbine systems from Aquatec-Maxcon. The turbines will be used by an Australian coal producer to power a water purification plant. The plant will use a reverse osmosis system to clean water polluted by coal production, leaving a finished product that’s safe to drink and can be sold to neighboring towns and villages. The C1000 system is Capstone’s latest … Read the rest
Florida Power and Light Company announced it will cancel a 35,000 acre, 210 MW wind power project in Wilbarger County, TX, near Wichita Falls. The project was canceled due to the issues the country has been facing in financial markets as of late, as well as area limitations on the ability to transmit power once it’s generated.
According to Steve Stangel, an FPL spokesman, the company may pick the project back up in the future:… Read the rest
According to StreetInsider.com, AeroVironment (AVAV) has announced that its CEO and chairman, Timothy Conver has established a Rule 10b5-1 stock trading plan to sell a portion of his holdings which is held in the Conver Family Trust. Under the plan, the Trust may sell up to 280K shares over a period of nine months but Conver would still own over 4 million shares of his company, so it’s a not a big percentage of … Read the rest
The StreetInsider.com is reporting that there are rumors that the House has also voted to extend the tax credits for solar, wind and other renewable energies… Remember the Senate passed the bill a few days ago. I’ll have an update soon.
Update: The story is out on Reuters now. The House measure is similar to the Senate bill that has passed with an exception.. it leaves out incentives to develop oil from shale … Read the rest
News is out that the Senate has extended $18 billion in tax credits for renewable energy sources but it sill needs to be approved by the House which is expected. The energy tax credits are part of a much larger bill, but here is the energy portion:
* Extends for one or two years and expands production tax credits for wind, refined coal, biomass and marine renewables. $5.8 billion.
* Extends through 2016 the investment … Read the rest