Piper Jaffray is also initiating coverage on American Superconductor (AMSC) today which has looked very bullish in recent weeks but getting a bit extended. It’s up again today. Piper is out with a Neutral rating and price target of $22.
Analyst notes:
– company well positioned to benefit from govt mandates to grow wind energy in China
– customer concentration risk is significant with 67% of revenue from Sinovel in China
– China economic stimulus … Read the rest
General Electric expects its wind division, GE Wind, to see double-digit growth this year,according to Reuters. The company attributes its expectations for growth to the release of new products and to an increase in sales to European customers, as well as the incentives for wind power that were built in to the US financial stimulus bill.
GE Wind is also gunning for Vestas, according to Rainer Broering, the head of GE Wind in Germany. He … Read the rest
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
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
Timken Company just announced that it has signed a long-term agreement with Nanjing High Speed Gear Manufacturing Co, LTd. Under the terms of the contract, Timken will supply Nanjing with tapered and cylindrical roller bearings. Nanjing will use the bearings in its wind power gearboxes.
Mike Connors, president of Process Industries at Timken, commented on the contract:
“This is another great success for Timken in the China wind energy market sector. NGC is a globally … Read the rest
Although GE may deliver 14 percent fewer wind turbines worldwide in 2009, deliveries to China are up. GE says that its Chinese deliveries will double for the next two years as China’s wind market expands by leaps and bounds. From AIndianews.com, here are more details and comments from GE leadership:
… Read the restShipments will jump to 320 this year from 159 in 2008, and double again to 600 in 2010, Steve Fludder, head of GE’s environmental
EDP has signed an agreement with US-based Principle Power to construct a deep-water offshore wind project in Portuguese waters. Under the terms of the agreement, EDP will use Principle Power’s floating turbine technology to keep costs down while allowing energy to be collected in deep (more than 50 meters) water.
From Reuters, here’s more information on the project:
… Read the restIn a statement, EDP said the project will be developed in three phases, commencing with a
General Electric is considering building a wind farm in the Mirkovo region of Bulgaria. Recently, country’s Economy and Energy Minister met with GM’s Project Manager of GE Infrastructure-Energy to discuss the region’s suitability for wind power generation.
… Read the restGE experts have visited Bulgaria twice in 2008 to conduct preliminary research of the area. The results revealed the possibility of building a wind park with power between 150 and 500 MW. The research is
American Superconductor Corporation just announced that it will work with the Department of Energy to see if a 10-MW superconductor wind turbine would be economically feasible. Under the terms of the 12 month Cooperative Research and Development Agreement, AMSC will analyze the costs of developing a 10-MW superconductor wind turbine based on the same technology the company has previously deployed in ship propulsion motors and generators for the Navy. Then, the National Wind Technology … Read the rest