Jim Chanos has been increasingly vocal about his bearishness on green energy, particularly solar. In April he was quite vocal about his short interest and the issues at First Solar (FSLR). According to the WSJ, he also highlighted Vestas Wind Systems (VWSYF) as a company that could go much lower. Both stocks continued lower today with First Solar taking out another key support area around the $120 level.
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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.
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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
Vestas just announced that it has received its largest order ever for a single site, 570MW worth of turbines to be used in Terra-Gen’s Alta Wind Energy Center in California.
Per the agreement, Vestas is responsible for delivering and commissioning as well as 5 years worth of service and maintenance. The first 50 turbines will be delivered and brought online by the end of this calendar year, and the remaining turbines will be up and … Read the rest
Together, General Electric Company and Vestas Wind Systems took a combined 56% of the US market in 2008, selling an unprecedented 4,648 megawatts. Overall, wind power installations rose by 58% last year, with a total of 8,300 megawatts. Employment in the wind industry was also up to 85,000 employees, an increase of 70 percent, here are statistics from last year for the leading wind companies:
GE, based in Fairfield, Connecticut, retained the lead in largest … Read the rest
Vestas Wind Systems just announced that it has received turbine orders from Romania and Italy. The Italian order consists of 37 V90-2MW wind turbines to be installed in Sardinia for EDF Energies Nouvelles. Here are the details of the order, from Power Engineering International:
… Read the restThe contract includes supply, installation and commissioning of the turbines and a five-year service agreement. The wind turbines will be delivered to a project in the municipality of Bonorva in
On Wednesday, Vestas Wind Systems broke ground on two wind turbine manufacturing plants in Brighton, Colorado. Once completed in 2010, the plants will employ 1,350 people. Vestas is building a wind turbine blade factory as well as a nacelle assembly plant. In addition to these facilities in Brighton, Vestas also plans to build a plant in Pueblo to make wind turbine towers.
Crown Prince Frederik André Henrik Christian and Crown Princess Mary Elizabeth attended the … Read the rest
Vestas Wind Systems announced that it will co-operate with Boeing on new research in advanced eco-friendly aeromechanics. The companies intend to start by identifying areas in which they are both proficient, and then to engage in mutually beneficial research projects. Researchers from both companies are expected to begin identifying potential projects this year.
Jan Narlinge, President of Boeing in Northern Europe, says that the collaboration will benefit both companies:
There’s a strong correlation between new … Read the rest
Bloomberg has a report out on the companies that are most likely to benefit from the economic stimulus bill. The bill includes both spending and tax breaks for new transmission lines, wind farms and smart meters.
GE has a diversified portfolio of renewable energy initiatives and is expected to benefit from the funding for wind energy, energy efficiency and smart meters. Vestas Wind Systems is also expected to get a large piece of the stimulus … Read the rest
Bucking the current trend of layoffs and hiring freezes, Vestas Wind Systems plans to hire 3,000 workers in the US. To Vestas, the US represents a potential goldmine in the form of a large, growing marketplace. However, CEO Ditlev Engel advised Marketwatch that difficulty obtaining investors in the US could push Vestas into expanding elsewhere instead:
… Read the restWhile he’s not planning to walk away from U.S. expansion plans yet, Engel said Vestas may be forced to
Vestas Wind Systems (VWSYF) is the largest wind energy company in the world so its earnings reports provide a good barometer of the state of the sector. The Danish company posted big revenue and earnings growth in 2008, but as always the market places the most importance on the future. The company didn’t disappoint there either, maintaining estimates for this year but did acknowledge that job cuts aren’t out of the question if the global … Read the rest