Xcel Energy Seeks Fast Track for Wind Power Bids
In order to take full advantage of the recent Congressional extension of the federal Production Tax Credit (PTC) for wind generation, Xcel Energy yesterday filed a request with the Colorado Public Utilities Commission to further expedite a company bidding process for new wind power in the state. On Aug. 11, 2004, the Colorado Public Utilities Commission gave Xcel Energy (XEL) permission to issue a "Request of Proposal" for up to 500 megawatts of renewable energy expected to primarily be wind under the company's overall resource planning process. The bidding process for this wind power began the...
Pennsylvania Wind Farms Continue to Have Positive Environmental and Economic Impact
FPL Group Inc (FPL) wind farms continue to help meet the growing need for pollution-free electricity in Pennsylvania while providing new economic opportunities for local communities and the state. FPL Energy's five Pennsylvania wind farms, with a capacity of 129 megawatts, are capable of generating electricity for nearly 37,000 homes. In 2004, the wind farms offset generation emissions totaling about 192,000 tons of carbon dioxide; nearly 1,400 tons of sulfur dioxide and more than 300 tons of nitrogen oxide.
ENDESA Acquires 290 MW in Wind Power from Sacyr Vallehermoso In Portugal
ENDESA (ELE) has signed an agreement with Sacyr Vallehermoso for the acquisition of 100% of the share capital of Portuguese company Finerge Gestao de Proyectos Energeticos, S.A. (FINERGE), umbrella company of a holding which operates wind farms and co-generation plants in Portugal. The deal hinges on the pertinent authorisation from the Portuguese anti-trust authorities. The company, which has 43 subsidiaries, owns projects already in operation whose installed capacity is 60 MW and projects under construction or in the pipeline with a capacity of 260 MW.
The Wind in Spain is Mostly in GAMESA
by Debra Fiakas CFA In the second week of November 2015, GAMESA Corporation (GTQ1: Berlin, GAM: Madrid, or GCTAF: OTC), Spain’s wind turbine manufacturer, reported double the net profit in the nine months ending September 2015, on revenue that was 30% higher than the same period last year. During the period GAMESA has received orders from customers in twenty-five different countries for wind turbines with generating capacity of 2,841 megawatts. Backlog at the end of September 2015 was 3,034 megawatts, representing a 43% increases over backlog a year ago. At a time when some companies are struggling amidst...
FPL Group in Talks to Buy Constellation Energy Group
FPL Group Inc (FPL) is currently in the advanced stages of negotiations to acquire Constellation Energy Group (CEG). An FPL-Constellation merger would create a giant East Coast-based utility with a market capitalization, based on Tuesday's closing stock prices, of $26.97 billion - $16.93 billion for FPL and $10.04 billion for Constellation. Constellation Energy Group is based out of Baltimore Maryland and is the holding company for Baltimore Gas and Electric. They also have an extensive presence in the wholesale power supply and generation business. The Power Generation Division currently uses 4.6% alternative sources for power generation. ...
Alternative Energy Companies Posting Large Returns
Alternative energy companies delivered compelling returns for investors. A look at Crystal Equity Research’s ‘indices’ of renewable energy, conservation and environmentally-friendly technology companies found some exceptional price moves. We review five companies here that have experienced top price moves from 52-week lows.
Codexis, Inc. (CDXS: Nasdaq) has gained 257% from its 52-week low. The company won a place in our Beach Boys group through development of proteins for a mix of applications from biocatalysts for industrial enzymes, chemicals and pharmaceuticals. While the company has started generating revenue from its technology, it has yet to post a profit. Codexis delivered a smaller than expected loss in the...
Spain aims to triple wind power
The Spanish government will increase the country’s wind-power target for 2010 to 20,000 megawatts, up 54 percent from the existing target of 13,000 MW, a government source said on Tuesday. Spain ranks third in the world behind Germany and the United States with an installed wind power capacity of 6,200 MW, and the new goal aims to reduce Spain’s dependency on imported fuel.
Hither and Yon: Transmission and Biofuels
In the most recent two installments of Energy Tech Stocks' interview with me cover my views on transmission stocks, and biofuel stocks. Readers of AltEnergyStocks know that I am a big fan of electricity transmission, a theme I keep coming back to. You also know that I have a very ambivalent relationship with both ethanol and biodiesel. So I liked Bill's transmission article, but I just wasn't able to convey to him the subtleties of how I feel about biofuels. But he got one thing right: the owners of biofuel feedstock are likely going to be the biggest winners....
Scottish Power Plc Receives Approval for Glasgow Windfarm
Scottish Power plc (SPI) was granted final planning approval to construct Europe's largest on-shore windfarm, the 322MW Whitelee project south of Glasgow. The 140 turbine project would provide enough green energy to power 200,000 homes. Scottish Power is currently the largest provider of wind generated electricity in the United Kingdom.
Valuing Finavera’s Deal With Pattern Reveals Buying Opportunity
Tom Konrad Finavera's Wildmare Wind Energy Project is one of three projects in Bristish Columbia to be sold to Pattern Renewable Energy Holdings Canada for C$40M. An earlier sale to of Wildmare Innergex Renewable Energy fell through in September. Photo source: Finavera. On October 1st, following the failed sale of Finavera Wind Energy’s (TSX-V:FVR, OTC:FNVRF) 77 MW Wildmare Wind Energy Project to Innergex Renewable Energy Inc (TSX:INE, OTC: INGXF), Finavera announced that it was in talks with three potential bidders and would review all offers for the company. Finavera...
Maxwell’s Misreported Revenue: More to Come
Tom Konrad CFA On March 7th, Maxwell Technologies (NASD:MXWL) announced problems with revenue timing. Unlike Lime Energy (NASD:LIME), which I discussed in the previous part of this series, there was no hint of any fictitious revenue. The disclosure was very specific that “The errors relate to the timing of recognition of revenue from sales to certain distributors.” The announcement went on to discuss “arrangements … regarding the payment terms for sales” at these distributors. As a result of the discovery, “certain employees were terminated and our Sr. Vice President of Sales and Marketing resigned.” Maxwell is reviewing deficiencies in...
FPL Energy Announces New Wind Farm in Texas
FPL Group Inc (FPL) announced it will build, own and operate a new wind farm in Texas, the Horse Hollow Wind Energy Center, to be located in Taylor County, Texas. The 220.5-megawatt Horse Hollow Wind Energy Center will be comprised of 147 1.5-megawatt wind turbines spread over a 22,500 acre site approximately 15 miles southwest of Abilene. Initial site work on the project is underway with full-scale construction expected to begin in the next few weeks and be completed no later than December 2005.
When the Wind Blows
In the past, readers have challenged my assertion that wind in the Great Plains blows mostly in the winter. In fact, I was once taken to task for it by a Colorado State Representative (a know-nothing Republican from suburbia) when I was testifying as to the advantages of Solar in Colorado in terms of timing. In the past, I've only had secondary references to "NREL data," and ERCOT's Analysis of Transmission Alternatives for Competitive Renewable Energy Zones in Texas (pdf, 8MB), where wind in the Texas panhandle also conforms to this pattern. However, I was just browsing NREL's Wind...
PSE Announces Intent to Buy 220 Megawatts of Wind Power; Utility seeking 100% ownership...
Puget Sound Energy (PSD) recently signed a letter of intent with Houston-based Zilkha Renewable Energy to obtain 100-percent ownership of Zilkha's proposed 220-megawatt (MW) Wild Horse Wind Power Project located in the eastern part of Washington state's Kittitas County. It is the next step in an ongoing process to acquire renewable energy as part of a strategic plan to secure low-cost, long-term diverse resources for its growing customer base.
Newsweek Special Report
"Experts generally agree that our current reliance on fossil fuels is unsustainable. Already oil is near $50 per barrel, and the great millions of Chinese and Indians destined to take to the road in the next decades have not yet gotten behind the wheel." This week Newsweek has written several special reports about alternative energy in all its forms. All of these reports can be found at the following link.
Hannon Armstrong’s Strong Q2 Keeps It In My Top Picks
By Jeff Siegel Hannon Armstrong (NYSE:HASI), one of my top picks for 2014, just made me very happy. Yesterday, the company announced its Q2 Core Earnings of $4.7 million or $0.22 per share. On a GAAP basis, the Company recorded net income of $2.9 million. Here are some other highlights. . . Raised approximately $70 million in April, 2014 in a follow-on offering. Increased the flexibility and expanded the capacity of its existing credit facility by $200 million. Completed more than $200 million worth of transactions, including the acquisition of a $107 million portfolio of land...
