Sol-Wind: New Yieldco With A Tax Twist
By Tim Conneally The pool of public solar yieldcos keeps growing. Just before the Christmas holiday, Sol-Wind Renewable Power LP filed for a $100 million initial public offering with the Securities and Exchange Commission. This will be the eighth Yieldco to debut since 2013, and the stock will trade on the NYSE under the symbol SLWD. But there's something different about this one. Sol-Wind is a yieldco that utilizes a Master Limited Partnership (MLP) structure, so it will be taxed differently from the other Yieldcos. Generally speaking, a Yieldco is similar to MLPs by nature, but the taxation...
Distributed Energy Systems Ends 2004 With Strong Fourth Quarter Revenues and Solid Backlog; Summarizes...
Distributed Energy Systems Corp (DESC) announced preliminary estimated full-year 2004 revenues of approximately $21 million, and preliminary estimated fourth quarter revenues of approximately $10 million. The Company also announced that its backlog of signed project and product commitments at year-end is approximately $25 million. This figure represents signed contracts covering energy projects for commercial and industrial clients, as well as in-house manufactured systems, including hydrogen generators and wind turbines.
Op-Ed: Vote Against Vestas’ Proposed Board
Vestas' (VWDRY.PK) Board of Directors intend to grant management share options at a strike price one-third BELOW book value. The Board of Directors is rewarding management for its mismanagement and past profit warnings. This will not help restore investor confidence. Given Vestas' valuation, it is time for shareholders to stand up for their interests: Investors should vote against all nominees for Vestas Board of Directors at the AGM on March 29th. The strike price of Vestas' share option scheme is only the latest in a series of decisions disregarding shareholder interests. Vestas needs to change! Vestas needs a...
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...
Western Wind Energy Receives $78.3M Cash Grant: Good News, Bad News
Tom Konrad CFA The Windstar Wind Farm. Photo credit: Western Wind Energy Western Wind Energy (TSX-V:WND, OTC:WNDEF)recently announced that it had received the much delayed 1603 cash grant for its 120 MW Windstar wind farm, which was completed last year. Good News, Bad News The good news is that the grant was finally issued after over a month and a half after the Treasury’s normal 60-day cycle of considering the grants. This will come as a relief to investors who may have been wondering if the grant might be denied, although I concluded...
3 Alternative Energy Stocks You Need to Know
In the face of a declining overall energy market today, three of our favorite alternative energy stocks posted strong gains on high volume. The Oil Services HOLDRs ETF (OIH) was down 2% and the PowerShares WilderHill Clean Energy ETF (PBW) was down 1.7%. Indeed, the vast majority of the energy stocks that we track were in the red. But bucking the trend were two energy stocks that we have profiled in the recent past and a third company that we will begin covering today. First on the list is our favorite wind energy play, Welwind Energy International...
A Few Dividend Paying Alt Energy Stocks
As I've discussed previously, things haven't been easy of late for alt energy stocks, especially those of the pure-play kind. A few days ago, I was asked which, if any, alt energy stocks I could recommend in this environment. My answer was: none. While people continue to go on television claiming that alt energy's problem has to do with falling oil prices, in my view the real risk at the moment has do with financing - financing for the companies producing the technologies and financing for their customers. The two business models are simultaneously under attack: for...
SALT: Buying the Balitc Dry Dips
by Tom Konrad, Ph.D. CFA
The Baltic Dry Index (BDI) is a shipping and trade index created by the London-based Baltic Exchange. It measures changes in the cost of transporting various raw materials, such as coal and steel.
Since the BDI is a measure of the income which firms that own dry bulk cargo ships can earn, changes in the BDI tend to drive changes in the stock prices of such companies.
Stock Price Correlation
Until recently, one such company was Scorpio Bulkers (SALT), one of my Ten Clean Energy Stocks for 2021 picks. The chart below shows the last 5 years, with...
Finavera Wind Energy: Slow Progress
Tom Konrad CFA Without a press release since June, and the stock price in the doldrums, investors have been looking for updates on Finavera Wind Energy (TSXV:FVR, OTC:FNVRF. Disclosure: I own this stock.) In fact, there has been an update: Finavera’s second quarter interim report, filed on August 28th on SEDAR, but without a press release or news articles, many investors seem to have missed it. Despite the lack of updates, progress continues behind the scenes, although Jason Bak, Finavera’s CEO is yet not able to say much about the ongoing initiatives. On Friday, he told...
Western Wind to Sell Company, Avoid Proxy Battle
Tom Konrad CFA Western Wind and the Toronto Hedge Funds Last October, Western Wind Energy (TSXV:WND, OTC:WNDEF) received an unsolicited takeover bid of $2.50 a share from Algonquin Power (TSX:AQN, OTC:AQUNF) to buy the company. Before the bid, the stock had been trading in the $1.20-$1.25 range, but President and CEO Jeff Ciachurski felt that it did not fully value the company’s projects and assets, including approximately $1 per share of US tax assets which the Canadian company Algonquin would not be able to use. Large shareholders at the time were in favor of the sale, including at least one shareholder...
OG&E Wind Power Program Marks 1-Year Anniversary; Recognized as One of the Most Successful...
Just one year after launching its wind power program, nearly 9,000 OG&E Electric Services (OGE) customers have subscribed. About one-third of the subscribers have 100 percent of their electricity generated by wind, making OG&E's program one of the leaders in the United States.
Wind: Oversupply Heralds ‘Flight to Quality’
David Appleyard A dramatic turnaround in the wind technology supply chain could bring opportunities for qualified suppliers, finds research by BTM Consultant ApS. Over the past five years the whole of the wind technology supply chain has been in flux. The industry has seen a dramatic turnaround, with a negative supply situation for some key components and materials transformed into the current position, with a significant supply surplus. We present the key findings of the latest BTM Consult Supply Chain Assessment report. Slower than expected economic recovery in the U.S., combined with the eurozone sovereign...
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...
American Superconductor Receives Order for PowerModule(TM) Systems for 150 Wind Turbines
American Superconductor Corp. (AMSC) announced it has received a follow-on order for its proprietary PowerModule(TM)-based wind turbine generator control systems for 150 wind turbines from Windtec Systemtechnik GmbH (Windtec), a supplier of large wind turbine components and system technology, based in Klagenfurt, Austria. The PowerModule-based control systems will be utilized in the electrical equipment of wind turbine generators each rated at 1.5 megawatts which Windtec plans to ship to China in calendar 2006. AMSC expects to ship the PowerModule PM1000 power converters, which manage and stabilize electricity produced by wind turbine generators, to Windtec by the end...
ENDESA Completes Construction of the Fonsagrada-Punago Wind Power Complex with Installed Capacity of 75.9...
Spanish Energy producer ENDESA (ELE) will have 75.9 MW of additional wind power in Galicia, now that its subsidiary, ECYR, (ENDESA Cogeneracion y Renovables) has completed construction of the Fonsagrada-Punago wind power complex in the Province of Lugo. ENDESA currently has operative installed wind energy capacity totalling 999 MW, with an additional 163 MW under construction, giving it a national market share of 16.6 %. Year to date, the Company has brought 4 wind parks into operation, representing 77 MW, while it has commenced construction on 7 new farms, which will add 163 MW to current installed capacity....
Offshore Wind Investment Opportunities
By Harris Roen A significant alternative energy investment theme with potential for growth over the next few years is offshore wind. This article looks at the promise of marine based wind, potential pitfalls, and names three investments that could benefit from large-scale offshore wind development that is likely coming. The Potential of Offshore Wind In 2011, the U.S. Department of Energy and the U.S. Department of Interior jointly published a national offshore wind strategy. According to the report, in areas with less than 100 feet of water the generating potential of offshore wind equals...
