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The week in review

Windy Admin — Fri, 15 Jan 2010 16:37:52 +0000

There were a number of signifcant developments this week in wind energy:

In a move that may be more for PR rather than energy savings, Workers installed 20 wind turbines in late December Adobe Systems. The installation is expected to produce about 50,000 kilowatt hours of electricity a year which sufficient to power 6 average homes. In terms of Adobe’s consumption footprint however, it only represents 2% of the power used in their 1 million square foot corporate high rise buildings.

Wind "Turbines" at Adobe Headquarters

TVA said it has entered two contracts with Invenergy Wind affiliates to provide a total of up to 350 megawatts from wind projects at the White Oak Energy Center in McLean County, Ill., and the Bishop Hill Energy Center in Henry County, Ill., both beginning in January 2012.

GE has signed contracts to supply 88 wind turbines to HECIC New Energy, a Chinese wind energy developer, for three new projects in Hebei and Shanxi Provinces. The projects will support the growth of wind energy investments in China and the wind farms expect to add 132MW of installed wind power capacity in China. Some analysts expect China’s wind power segment to grow by 25% in 2010

Canada’s Western Wind Energy Corp (WND.V) said it received approval from the U.S. Federal Aviation Authority for 15 turbine locations for its wind and solar energy project based in Arizona. The company also said it was in the process of finalizing a turbine supplier, engineering procurement construction contractor and solar panel provider.

The UK wind farm planned is an order of magnitude larger than the picture of a wind farm near Wales above

The UK Government announced plans to build nine giant wind parks on their coasts, taking the lead in wind energy production globally and looking to provide 25% of their total energy needs. The cost will top 110 billion euros and expected completion is in 2018. If you have ever visited the UK coasts for any measurable period, you are well aware of the turbulent seas and windy conditions in the land-locked country.

Broadwind Energy (BWEN) shares which we wrote about last week continue to be under pressure as T. Boone Pickens announced plans to cut back on domestic wind farms and concentrate on natural gas

Windystocks back in action

Windy Admin — Fri, 04 Dec 2009 18:09:13 +0000

We have been in hiatus for a while, but there are a number of interesting developments in the area of wind power that have garnered our attention. Our wind power stock coverage is going to be expanded in the short term to cover a number of interesting companies that have surfaced in the space.

A-Power Energy Generation Systems, Ltd (APWR)

GC China Turbine Corp (GHCT.OB)

Vestas Wind Systems (VWSYF.PK)

Broadwind Energy, Inc. (BWEN)

In wind energy news in the past week, there were a number of announcements in the sector that show the wind energy market is alive and well

PG&E announced that it has contracted with Iberdrola Renewables, Inc., the U.S. arm of the world’s largest provider of wind power, to purchase and operate a major wind generating plant to be built in Southern California to serve the utility’s electric customers. The proposed Manzana Wind Project, with a power capacity of up to 246 megawatts, would be the first wind project owned by PG&E. It follows a proposal by the utility in February, 2009 to develop and own 250 MW of solar photovoltaic power.
Duke Energy Corp. has begun producing electricity from its Campbell Hill WindPower Project in Wyoming. The 99-megawatt operation near Casper, Wyo., will supply wind energy to PacifiCorp under a 20-year agreement. Duke says Campbell Hill’s 66 wind turbines will produce enough electricity to power about 30,000 homes per year.
The Criterion wind project on Backbone Mountain will be sold by Clipper Windpower Inc. to Constellation Energy Group Inc. for $140 million, the buyer reported this week.
Constellation will purchase 28 wind turbines manufactured by Clipper that are capable of producing 70 megawatts of power and powering 23,000 homes. Projects with production capacities of more than 70 megawatts have to navigate much tougher scrutiny from the Maryland Public Service Commission.

Implosion

Windy Admin — Thu, 23 Oct 2008 19:33:59 +0000

It has been a while since i have posted but i figured I’d take a quick marker of where we are with Wind Energy stocks. So how do i put this? ALL FORMS OF ENERGY HAVE IMPLODED! Oil, Solar, Wind and anything else related to energy has gone down anywhere from 15-80%. Oil has tumbed by more than 50% making other more expensive forms of energy become less attractive. One of our favorite stocks, A-Power (APWR) is now trading around $5 per share which gives it a FORWARD PE of below 3! This is absolutely unheard of in normal markets.

We will continue to monitor the situation as there will be loads of bargains once the bloodshed is over.

Alternative Energy Tax Breaks could expire

Windy Admin — Wed, 03 Sep 2008 14:47:24 +0000

Almost half a billion dollars in government tax credits will expire at the end of this year unless Congress renews them. Without that aid, solar and wind power companies may curtail planned expansions, jobs and R&D. Greg Wetstone of the American Wind Energy Association predicts losses of more than 75,000 jobs and potentially over $11 billion in investment if Congress allows its production tax credit to expire. A number of wind power companies such as A-Power Energy Generation Systems, Ltd. , Vestas and Gamesa could be affected. In addition, since the price of oil has plummted 35% in the last 2 months, the price of energy as a commodity is coming down and will put pricing pressure on alternative energy sources making them less attractive to deploy. For wind energy to continue to grow and proliferate and become more efficient, we unfortunately need oil to continue to stay above $100 for the forseeable future, otherwise there will be a gravitation back to non-renewable energy and the recent progress will stall.