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Evergreen Solar Announces Stock Offering

Evergreen Solar, Inc. (Nasdaq: ESLR) has filed with the U.S. Securities and Exchange Commission to offer a public offering of 15 million shares of common stock. The underwriters will have a 30-day option to purchase up to 2,250,000 additional shares of common stock from the Company in the event the underwriters sell more than 15,000,000 shares in the offering. Lehman Brothers Inc. will act as sole book-running manager of the offering and Piper Jaffray, Cowen and Company and Pacific Growth Equities, LLC will act as co-managers.

Xantrex Receives Large Order For Wind Converters

Xantrex Technology Inc. (XTX.TO) has signed a three-year supply agreement with an undisclosed North American wind turbine manufacturer for its wind converters. The manufacturer placed an initial order worth $12 million. “This contract and purchase order builds on our substantial wind business from 2006 and secures our long-term participation in the growth of wind power, which is part of our renewable power business and our primary growth market,” says Mossadiq Umedaly, Xantrex’s chair.

Q-Cells Reports Q1 Results

Q-Cells AG (QCE.DE) reports that for the first quarter 2007, it increased cell production by 45% to 78 MW peak (MWp). Sales increased 43% to ¬163.5 million, EBIT improved by 37% to ¬36.2 million. Technological advances and cost reductions offset higher material costs and reduced sales prices. Net income increased 40% to ¬23.8 million. Following the acquisition of the 17.9% stake in REC, the world’s largest manufacturer of silicon and silicon wafers for solar cell production, the pro rata profit was included in the Q-Cells AG result for the first time. This increases net income for the period by EUR 7 million. Q-Cells raised its 2007 forecast to 360 MWp production, from its former forecast of 340 MWp. It increased the sales forecast from EUR 705 million to EUR 750 million. For 2008, Q-Cells expects to achieve sales of approx. ¬1 billion and a return on sales of 13%. For 2009, it expects sales growth of 40%.

Oklahoma is Location for Wind Tower Plant

DMI Industries, a subsidiary of Otter Tail Corp, has selected Tulsa, Okla., as the location for its third wind tower manufacturing facility. The plant will have the capacity to produce over 3,000 MW of onshore and offshore wind turbine towers. “DMI has achieved success in Canada and across the northern tier of the U.S. thanks to strong demand,” says Lars Moller, DMI’s president. “We plan to do the same things in Oklahoma and the south-central U.S. that enabled that success.” The company expects the facility to be operational by early 2008.

Thermal Energy Closes $1M Private Placement

Thermal Energy International Inc. (TSX-V:TMG) has completed an institutional private placement of $1 million. The transaction was conducted with a syndicate of investment firms including Whitebox Investment Advisors LLC. The Company issued over 4 million shares at a price of $0.24 cents and one warrant to purchase a common share of company stock at a deemed price of $0.40 for a period of up to two years. Syndicate participants have an option to increase the size of the placement by up to 30% at a 10% discount to market price for period of 60 days from the date of closing. About Thermal Energy Thermal Energy International Inc. provides custom energy and emission reduction, and bioenergy solutions. Headquartered in Ottawa, Canada, it designs and builds patented energy conservation, renewable energy and environmental technology solutions. Website: [sorry this link is no longer available]

Bush Orders Government to Craft Emissions Rules

Following last month’s Supreme Court ruling that the Environmental Protection Agency (EPA) must take steps to reduce emissions, President Bush ordered federal agencies to develop regulations to reduce gasoline consumption by motor vehicles. He conveniently set a target date at the end of his term for the EPA to detail regulations. He called on the EPA and the Departments of Transportation, Agriculture and Energy to work together to write the rules. The president said the new rules will address a goal he set in this year’s State of the Union address to reduce gasoline usage by 20 percent over the next 10 years. Senator Bingaman commented, “This is an Executive Order on interagency relationships. While good relations among agencies are important to the regulatory process, it’s also important to recognize that reducing gasoline consumption requires more than good interagency dynamics. “The absence of any standards in today’s announcement is a reason why Americans will be looking to Congress for stronger leadership on energy policy. Indeed, solid bipartisan majorities in two Senate committees recently reported bills to create specific, meaningful new standards for biofuels and vehicle fuel economy. I look forward to the full Senate’s consideration of these bills.” The Union […]

1500 Scientists Say Protecting Canada's Forest Crucial

1,500 scientists from around the world say Canada needs to protect its Boreal Forest to preserve wildlife, water and to fight global warming. Scientists says at least half must be protected, up from 10% now, and the rest needs to be carefully managed, particularly in the face of pressure from logging, mining and oil and gas operations. An area the size of Florida, for example, is slated to be developed for Canada’s tar sands reserves. Canada’s Boreal Forest stretches from the Alaskan border to Newfoundland, and is one of largest intact forest-and-wetland ecosystems remaining on earth. The mainly coniferous forest is the single largest terrestrial carbon storehouse in the world, supports 3 billion migratory songbirds, the world’s largest caribou herds and large populations of bears, wolves, lynx and fish. “We are losing so many of the world’s great forests, despite the best efforts of conservationists,” said University of Alberta ecologist David Schindler. “Canada’s Boreal Forest offers what may be our last, best chance to do things right, but only if our leaders act decisively and act now.” Professor Terry Root of Stanford University emphasized that especially in the face of global warming, survival of a wide range of species depends […]

U.S. Allows Radioactive Materials in Ordinary Landfills

URL: http://www.ens-newswire.com/ens/may2007/2007-05-14-08.asp Website: http://www.ens-newswire.com/ens/may2007/2007-05-14-08.asp

Airtricity Finalizes Its Largest Wind Project

Renewable energy developer Airtricity, Inc., announced the construction of its largest wind farm to date in Texas. The 209 MW Roscoe Wind Farm will provide power to TXU Wholesale, a subsidiary of TXU Corp., under a five-year sales contract. The project area stretches into three counties and will cover nearly 30,000 acres. The Roscoe Wind Farm, which is scheduled for completion by the end of the year, will produce enough energy to power 60,000 homes annually and will help Texas meet its renewable energy goal of 5,000 new megawatts of its power from renewable sources by 2015. In 2006, Texas became the nation’s leader in installed wind capacity. This is Airtricity’s third Texas project. It will employ 209 1.0 megawatt Mitsubishi 1000A turbines. Airtricity’s fourth Texas wind farm, the 126 MW Champion project, recently commenced construction five miles from the Roscoe site. By the end of this year Airtricity will operate 550 MW of wind power in Texas, making it one of the leading providers of clean energy in the state. The company is also currently constructing a project in western New York. About Airtricity Founded in 1997, Airtricity is a fully integrated renewable power company with 455 MW of […]

More Chinese Solar Firms File for IPOs

Two more Chinese solar companies, Yingli Green Energy Holding Co. Ltd and LDK Solar Co. Ltd, filed for U.S. IPOs late last week, for combined proceeds of about $750 million. The will join JA Solar (Nasdaq: JASO), Solarfun Power Holdings (Nasdaq: SOLF) and Suntech Power (NYSE: STP). The larger IPO is LDK Solar (NYSE: LDK), which hopes to raise up to $400 million on the NYSE. The company makes multicrystalline solar wafers -thin sheets of crystalline silicon – used to make solar cells. 31-year old CEO Xiaofeng Peng owns about 83% of the company, which reported $22 million in income on $73 million in sales in the first quarter. For the first quarter of 2006, LDK reported a loss of $440,000. Yingli Green Energy (NYSE: YGE), which designs and manufactures PV modules, plans to raise up to $350 million. Liansheng Miao, 50, the company’s chairman, owns about 57% of the company.

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