American Superconductor (AMSC) is up a bit in pre-market trading today after announcing it has received another follow on order for 30 sets of wind turbine power electronic components from South Korea’s Hyundai Heavy Industries who will use the components in the AMSC designed 1.65MW wind turbines. All shipments to Hyundai for this order are expected by June 30.
Hyundai licenses AMSC designs (beginning in 2008) and is allowed to market and sell wind turbines … Read the rest
A couple Buy ratings to tell you about this morning. Deutsche Bank has upgraded American Superconductor (AMSC) to Buy and raised the price target $38. Hat tip to Street Insider for the following analyst comment:
“On fears of slowing demand for wind power in China, AMSC’s shares have underperformed the R2000 by 39% YTD. We expect this to reverse over the next 6 months following bullish FY10 guidance (in mid May), new wins (including follow-on … Read the rest
I’ve just put the finishing touches on an initial list of green mutual funds, most of which are fairly new and don’t have a long history so invest with caution. The other thing I’ve come across in my research is that some mutual funds claiming to be green aren’t at all green which I discuss in more detail in my report. There are some decent funds such as those put out by Gabelli and … Read the rest
Constellation Energy jut announced that it has finished acquiring the Criterion wind project in Maryland from Clipper Windpower, Inc. Constellation Energy will build, develop, own and operate the 70 MW wind farm. Power and renewable energy credits produced will be purchased by Old Dominion Electric Cooperative under a 20-year power purchase agreement after the wind farm is up and running, which is scheduled to happen by the end of the year.
In a press release,… Read the rest
American Superconductor (AMSC) has received an initial $20 million order from Ghodawat Energy of India for wind turbine electrical control systems. Ghodawat is a significant player in the India wind energy market, operating over 150 turbines that generate over 100MW of electricity across four states. The company has a capacity of 400 turbines per year and has begun manufacturing 1.65MW doubly fed wind turbines designed using AMSC’s proprietary technology. AMSC will begin shipping the electrical … Read the rest
Xcel Energy just announced that it has closed on a Wind Project Purchase and Sale Agreement with enXco, an EDF Energies Nouvelles Company, for its forthcoming Nobles wind farm. The two companies have a history of working well together, having jointly developed 500 megawatts of wind power over the past few years.
The Minnesota wind farm will be made up of 134 GE 1.5MW turbines and will have a capacity of 200 MW when it … Read the rest
American Superconductor (AMSC) is pushing higher in premarket trading on news that it has received a record grid interconnection order from wind energy giant Vestas. It’s subsidiary, Vestas Australian Wind Technology has placed an order with AMSC for a large D-VAR-based grid interconnection system, utilizing 24 D-VAR modules integrated with external smart-switched capacitor banks that are optimized for wind farm applications.
AMSC components will be used at the 206MW Collgar Wind Farm in Western Australia … Read the rest
China Wind Systems (CWS) reported strong Q4 results this morning with an adjusted EPS of $0.11 on revenues of $15.9 million. That’s a 37% and 47% bump in earnings and revenues over the year ago period. It should be noted that revenue related specifically to its wind energy business grew 327% over the year ago quarter to $6.8 million, so the company now gets nearly half its revenue from wind energy related business.
CEO Jinahua … Read the rest
A-Power Energy (APWR) reported a big growth in the last quarter and beat analyst EPS estimates by a wide margin reporting a non GAAP Q4 EPS of $0.61 which was well ahead of analyst estimates of $0.41. Revenues were a bit shy of what analysts were looking for at $125.9 million. Those are record numbers representing a 100% increase and 60% increase in EPS and revenue over the year ago quarter. So why is the … Read the rest
If the Obama administration wants to meet its goal of being the alternative energy world leader, it’s got a lot of catching up to do. While they focus on a trillion dollar health care sure to put the US credit rating at risk in the coming years, it spends peanuts on the technology needed to fuel our future without the need for massive foreign oil imports.
Last year, China doubled the investment the US made … Read the rest