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
Tag Archives: china
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
Vestas Wind Systems (VWSYF) Invests In Chinese Subsidiary
Vestas Wind Systems has announced it will invest $350 million in its Tianjin, China subsidiary. This investment will position the company to meet China’s increasing hunger for wind energy. Vestas has received several large orders from China in the past month and in the past year. As CleanTech Group LLC notes, investing in its Chinese subsidiary is smart because China is such an important and growing market for wind power:
… Read the restChina is a significant market
LDK Solar (LDK) Plunges After Hours On Poor 4Q Outlook
After several days of large gains, solar stocks are going to have a difficult time tomorrow after LDK Solar (LDK) came out after the bell and cut its expectations for 4Q and FY09 citing .. you guessed it! Lower demand.. oh and a delay in ramping production at its 1000 MT polysilicon plant which is expected to offer peak production around mid 2009. Construction of the 15K MT polysilicon plant remains on schedule and is … Read the rest
China Technology Development (CTDC) & Qinghai New Energy To Cooperate On China’s Largest On Grid Solar Station
China Technology Development (CTDC) has nearly doubled in 3 trading days on news the company will partner with privately held Qinghai New Energy to build what would be China’s largest on grid solar power station. The 2 companies have signed an agreement with the local government of Qinghai Haixi Mongolian Tibetan Region to build a 30MW solar station with CTDC designing, constructing and managing the facility with support from the local government to obtain federal … Read the rest
A-Power Energy (APWR) Pummeled After Slashing 4Q Guidance
A-Power Energy (APWR) is once again testing all time lows after taking a 25% hit today on news the company has dramatically lowered 4th quarter guidance from the previous estimate of $158 million in revenue and $15.5 million in profit to $76 million in revenue and just $5 million in profit due to postponed contracts.
Jinxiang Lu, APWR CEO, commented, “Due to the unusual current macro economic conditions, a few of our key potential contracts, … Read the rest
Advanced Battery (ABAT) Announces Intent To Acquire EV Manufacturer Wuxi Angell
Last week, Advanced Battery Tech (ABAT) announced it has entered into a letter of intent to acquire 55% of Wuxi Angell, which it has been working closely with to develop and electric bike. ABAT will issue 2 million shares of common stock and pay out approximately 3.65 million in cash to acquire a majority portion of Wuxi Angell and the deal is expected to close in the first quarter of 2009.
Wuxi Angell makes … Read the rest
Advanced Battery Tech (ABAT) Electric Bike Passes Performance Test, Company Announces Share Repurchase Program
Advanced Battery Tech (ABAT) announced a few days ago that the deluxe model of its electric bike produced by Wuxi Angell Autocycle of China has passed performance tests conducted by the China North Vehicle Research Institute which is the most highly recognized electric vehicle testing center in China. ABAT is supplying the 48V, 15 amp lithium ion battery which improves the mileage per charge by 44% (69 km).
Mr. Zhiguo Fu, Chairman and CEO of … Read the rest
A-Power Energy (APWR) Misses But Bouncing AH; Comments On China Power Outages & Wind Turbine Biz
Despite missing the Street’s view, A-Power Energy (APWR) is moving higher after hours. That’s the kind of action that needs to be seen to mark a bottom in these green stocks. It’s an indication that finally the doom and gloom has been fully priced in. The company reported an EPS of .28/share, .04 lower than analyst estimates on revenues of 85.4 million which was also lower than what analysts were expecting. APWR still expects 08 … Read the rest
American Superconductor (AMSC) & Shenyang Blower Works Partner For Wind Turbine Development In China
AMSC and leading Chinese industrial equipment manufacturer Shenyang Blower Works announced today a partnership that will position SBW as a leading supplier of wind turbines for the China marketplace. AMSC will provide designs for its 2MW induction wind turbines, help localize the supply of all core components, establish the wind turbine manufacturing line and build and test SBW’s first prototype turbines. Sounds like a great deal for SBW! Once SBW receives certification, they will … Read the rest