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Ormat Secures Seven Nevada Leases

Ormat Technologies, Inc. (NYSE: ORA) has won a bid for approximately 68,900 acres of geothermal leases in Nevada, that were auctioned by the Bureau of Land Management (“BLM”) for the total amount of approximately $8.2 million. Dita Bronicki, President and CEO of Ormat Technologies, said: “This auction is an implementation of the new BLM rule which includes a requirement that geothermal resources be offered through a competitive lease process. Our successful bid secures lease agreements for seven new sites in Nevada, which will support our growth plans in the years to come, however, there is no assurance that all of the leases will be found suitable for commercial projects.” Website: http://www.ormat.com     

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SunPower Signs Agreements

Sunpower has signed a long-term supply agreement with SMA Technologie AG, the world’s largest solar inverter manufacturer, and has signed two agreements with NorSun AS to support its solar cell manufacturing expansion plans. SMA Technologie AG agreement: “This agreement will enable SunPower to offer a broader choice of innovative, high-quality and reliable inverter products to our expanding dealer network,” said Vikas Desai, general manager of SunPower’s VAR Business Unit. “We look forward to a long and rewarding relationship with SMA.” SMA is well respected within the solar community as a leader in the solar inverter field. “It’s no coincidence that both SMA and SunPower have been recognized by industry organizations for their technological achievements within the solar industry,” says Pierre-Pascal Urbon, chief sales and marketing officer for SMA Technologie and president of SMA America. “SMA’s commitment to delivering quality and innovative products will enable us to provide SunPower with reliable inverter technology that will meet the growing demand of SunPower’s customer base.” “SMA America is uniquely positioned to supply a fully integrated, commercial energy solution that maximizes energy production, while keeping the installation simple and cost effective,” said Kent Sheldon, SMA America director of sales. “Our high-performance and high-efficiency solar-electric […]

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Conergy First Half Revenues Reach EUR 418M

Conergy AG increased half-year revenues by 70.6 percent to EUR 418 million (previous year: EUR 245 million). This is the first time that foreign sales, which more than tripled year-on-year from EUR 60.5 million to EUR 223.6 million, have exceeded revenues in Germany, which also gained slightly. Conergy already offers its systems for utilizing solar, wind and bioenergy in 26 countries via three brand worlds focused on end customers, the trade and investors. The photovoltaics grew by 80.3 percent and remains the Group’s core business and growth engine. Revenues in the other technologies increased by 36.8 percent. Earnings before interest and taxes (EBIT) improved from -EUR 6.1 million in the first quarter to EUR 13.6 million in the second quarter of 2007 in tandem with the growth of our revenues as the year progresses. The gross profit margin rose from 16.8 percent in the prior-year period to 21.1 percent in the first half year of 2007, already offsetting at the half-year mark the first quarter’s traditionally negative consolidated net income (-EUR 4.9 million). Consolidated net income after interest and taxes was EUR 1.5 million for the first six months of the year. Any analysis of our quarterly results must consider […]

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Environmental Power Reports Q2 2007 Results

Environmental Power Corporation (Amex: EPG) has announced results for the quarter and six months ended June 30, 2007. As announced on May 31, 2007, the Company has entered into negotiations finalizing the disposition of the leasehold interest held by the Company’s subsidiary Buzzard Power Corporation (“Buzzard”) in the 83 megawatt electric generating facility located in Venango County, Pennsylvania, known as the Scrubgrass facility. Consistent with that activity, the assets and liabilities of Buzzard have been accounted for as discontinued operations for all periods presented in this release and in the Company’s Form 10Q. The disposition of the Scrubgrass lease arrangements will result in the write-off of Buzzard’s net assets and forgiveness of the Arclight loan. Additionally, we will be able to recognize the deferred gain from the original sale of the facility. The Company estimates that the net effect of the transaction will result in a gain of approximately $3 million. The exact transaction value will vary based upon the results of Buzzard’s operations from now until the final disposition date. Financial information for the discontinued operations is presented in the Company’s Form 10Q. Microgy, Inc., the other wholly owned subsidiary of EPG, is currently the sole business segment of […]

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