China’s biggest wind turbine producer Sinovel plans to raise over $1 billion in an IPO according to China Daily. China IPO’s always garner lots of interest, often times whether they’re profitable or not so Sinovel should do quite well considering it is profitable and growing. They’re expected to grow profits about 30% this year.
China’s 3rd largest wind energy company Huaneng Renewables scrapped plans for an IPO in Shanghai late last year so success … Read the rest
American Superconductor (AMSC) took a hit from Barron’s over the weekend and a hit to its stock price Monday as a result with the stock down 8%. Barron’s believes the company relies too much on a single customer. That single customer happens to be Sinovel which is the largest wind turbine producer in China, but Barron’s is concerned about the risk involved with signs that the boom in China wind power is slowing while AMSC’s … Read the rest
AMSC just announced that it will be expanding its strategic partnership with Sinovel. As part of the expanded partnership, the two companies will work together to develop new advanced, multi-megawatt-scale onshore and offshore wind turbine designs.
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Sinovel will then sell the turbines, purchasing core electrical components for them from AMSC.
In a press release, Greg Yurek, founder and chief executive officer of AMSC, commented on … Read the rest
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Sinovel is expected to begin installing its 5MW wind turbine prototypes within the next year with American Superconductor (AMSC) supplying the electrical guts of the system. AMSC announced it has received an initial order and expects to ship it out in the second half of this year.
Sinovel is China’s largest wind turbine manufacturer, shipping out 2400 1.5MW and 100 3MW turbines last year. It’s next generation … Read the rest
Last night American Superconductor (AMSC) announced a big $100 million follow on order from Sinovel and Kaufman Bros likes the news. The firm is upgrading the stock from Hold to Buy and raising the price target to $36.
Hat tip to StreetInsider.com for the following analyst comment:
“Yesterday AMSC announced its largest customer, Sinovel, had placed a follow-on order for $100 million in electronics for its new 3MW wind turbine. The electronics will ship beginning … Read the rest
American Superconductor (AMSC) has landed another contract from China’s largest wind turbine company Sinovel. This time it’s a big one – $100 million to be exact. AMSC will supply Sinovel core electrical components for its 3MW wind turbines and begin shipping in March of next year.
“Over the course of the past four years, Sinovel has transformed from start-up mode into China’s largest wind turbine manufacturer,” said Greg Yurek, founder and chief executive officer … Read the rest
More good news on AMSC. I reported last night that they have increased the size of their contract with Sinovel. This morning, American Superconductor (AMSC) reported another very strong quarter, smashing estimates on both EPS and revenue. The company posted .12/share on the EPS side vs the expectations for a flat quarter on revenues of $73 million (83% increase over year ago quarter), better than $12 million ahead of the estimate. It’s also increasing … Read the rest
American Superconductor (AMSC) announced this evening that they are increasing their shipments to China’s largest wind turbine manufacturer Sinovel in order to meet increased demand. The amended contract will increase the number of AMSC’s PowerModule PM3000MW power converters which allows Sinovel to include grid friendly features with its wind turbines, such as controlling power flows, regulating voltage, monitoring system performance and maximizing efficiency. The overall contract value increases by $20 million for AMSC.
“Sinovel has … 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%)
Citron Research (formerly StockLemon.com) is known for its in depth research and peeling away the truth behind a company’s numbers, exposing the true nature of the business or lack thereof. Today, they issued a report on American Superconductor (AMSC), calling the company an industrial commodity (who happens to supply the wind industry) rather than an alt energy play. They also bring attention to the request of the company that the SEC withhold key information from … Read the rest