China Ming Yang Wind Power (MY) has announced they have signed a memorandum of understanding to cooperate on a series of proposed wind energy projects with the provincial government of Hebei, a province in Northern China. The initial agreement provides designated land from the local government for Ming Yang to develop and there are likely financial incentives for opening up supply chains for wind power equipment and wind/solar hybrid storage solutions.
==> Click Here For … Read the rest
Jefferies has a Buy rating and a $41 price target on American Superconductor (AMSC) and believes it’s the best wind play in China since its largest customer is Sinovel which is the #1 wind energy company in China.
==> Click Here For Your FREE Daily AMSC Analysis
Wells Fargo is out this morning with several solar calls and is mostly bearish. They upgraded Yingli Green Energy (YGE) from Market Perform to Outperform citing low production … Read the rest
Bloomberg reports that short selling in green stocks has been increasing and is nearly four times the short selling in the S&P. In November, 17% of shares in the 35 stocks that make up the Wilderhill New Energy Index are sold short, up from 16% last month and 15% in September. That compares with the 4.4% short ratio of the stocks that make up the S&P.
Among the most heavily shorted stocks are Zoltek (ZOLT) … Read the rest
In the “you can’t trust the management of a China based company department” .. and there are an increasingly large number of these lately.. A-Power Energy (APWR) finally reveals that indeed the company is far from a leader in the China wind energy space and is struggling in its other business as well. To make matters worse, the big Texas wind project (Spinning Star) is on life support and will likely never happen if additional … Read the rest
Zoltek (ZOLT) has made a habit out of reporting disappointing earnings results and they did it again after the bell today. While the company posted a bit narrower loss than what analysts expected (.01) vs analyst estimate of (.02), they missed significantly on the revenue side, posting $31 million vs the estimate for $43 million. The CEO blamed the poor performance on the shift in production capacity of its biggest customer Vestas Wind, currency fluctuations … Read the rest
Broadwind Energy (BWEN) it was selected by Vestas Wind (VWDRY) to be the wind tower supplier for the Glacier Hills Wind Park in Wisconsin. The 90 turbine project is expected to generate enough renewable electricity to power nearly 50K homes.
==> Click Here For Your FREE Daily Broadwind Technical Analysis Report
Jess Collins, executive vice president and chief operating officer at Broadwind, stated, “We congratulate Vestas for moving this key wind project forward. As a … Read the rest
China Ming Yang Wind Power (MY) has announced that it signed a cooperation intention agreement with a leading China-based independent power producer for up to 200MW of wind turbines for an offshore wind project in Beibu Gulf area of China. Should the project get off the ground, MY would provide 2.5 and 3MW wind turbines while the other (unnamed) company would be the developer. Construction could begin next year.
You really have to begin to question whether it makes sense to hold any China based company for the long haul (or at all for that matter). It seems there are more questionable companies trading as ADR’s on US exchanges (see DYP, DGW, RINO, etc) Now we have A-Power Energy postponing its earnings results scheduled for tomorrow until “later in the year”. Huh!? The company says it is not related to any accounting regularities, but … Read the rest
China Wind Systems (CWS) has reported earnings results this morning that might disappoint traders and send the stock lower, but there is support around the $4.50 level, so the stock remains bullish if it can hold that level today. The company beat analyst estimates on the EPS side reporting .12/share vs the estimate for .11/share on revenues of $21.3 million which misses the analyst estimate for $22.3 milion.
American Superconductor (AMSC) posted solid Q2 results this morning, beating analyst estimates and increasing their 2010 guidance. The company reported a non GAAP EPS of .32/share (vs the estimate for .28) on revenues of $101.5 million (vs the estimate for $101 million). That’s good for a 68% increase in EPS over the year ago quarter and a 35% increase in revenues. Sequentially, the numbers were a slight improvement.