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New Jersey Adopts 20% Renewables Target

URL: http://www.courierpostonline.com/apps/pbcs.dll/article?AID=/20061105/BUSINESS/611050358/1003 Website: http://www.courierpostonline.com/apps/pbcs.dll/article?AID=/20061105/BUSINESS/611050358/1003     

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Solel & Sacyr to Build 50MW Solar Thermal Plants

Solel Solar Systems, Ltd. and Sacyr-Vallehermoso have signed an agreement to build three solar thermal plants in Spain with a total capacity of 150MW and at an estimated overall value of US$890 million. Solel’s scope of supply for all three projects is estimated at around US$500 million. Based in Israel, this marks Solel’s first turnkey power project to be delivered in Spain on a Build, Own and Operate (BOO) basis. The project also enables Solel to act as provider of solar energy in Europe for the first time. The current price per kilowatt/hour for produced solar thermal electricity in Spanish electricity projects stands at 30 cents. The rate is subsidized by the Spanish Government for a period of 25 years in order to support & encourage the innovation and implementation of alternative domestic energy sources, clean electricity and to support local electricity production. “Solel is delighted to be working with a highly reputable infrastructure company in Europe such as Sacyr,” said Avi Brenmiller, CEO of Solel Solar Systems. “We believe that the combination of cutting-edge solar technology, know-how and solutions from Solel, combined with the local knowledge and construction expertise of Sacyr will have a significant positive impact on the […]

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FuelCell Energy & Enbridge to Produce Hybrid Fuel Cell Power Plant for Pipelines

FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of fuel cell power plants for commercial and industrial customers, and Enbridge Inc. (NYSE:ENB; TSX:ENB), a leader in energy transportation and distribution announced that production has begun on the first multi-megawatt hybrid product, generating ultra-clean electricity while recovering energy normally lost during natural gas pipeline operations. The new product, the Direct FuelCell-Energy Recovery Generation(TM) (DFC-ERG(TM)) system, combines a 1.2 megawatt (MW) Direct FuelCell® (DFC®) power plant with a 1 MW unfired gas expansion turbine. Operating at natural gas pipeline letdown stations, the system generates 2.2 megawatts (MW) of ultra-clean electricity. To transport natural gas across the continent, natural gas pipelines operate at high pressures and considerable energy must be injected to achieve the pressures required. This high pressure must be reduced when the gas enters lower pressure systems that deliver gas to homes and businesses. Currently, there is no commercial use made of the energy that is lost at that stage. Additionally, when pressure is reduced, the gas cools. To ensure reliable pipeline operations, the cooling must be offset — by burning some gas in boilers, reheating the supply to an acceptable temperature. With the new DFC-ERG system, high-pressure gas passes through a […]

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Headwaters Announces Fiscal 2006 Results

Headwaters, Inc. (NYSE: HW)announced results for the fourth quarter and fiscal year ended September 30, 2006. Revenue, operating income, and net income for the September 2006 quarter were down versus the prior year quarter, consistent with expectations, primarily due to the phase-out of Section 45K (formerly Section 29) of the Internal Revenue Code. Headwaters continues the process of transitioning away from its Section 45K business. Headwaters total revenue for the September 2006 quarter was $275.2 million, down 13% due to the Section 45K phase-out, from $315.1 million reported for the September 2005 quarter. Operating income decreased 36% to $44.6 million in the September 2006 quarter compared to $70.2 million in the September 2005 quarter. While exceeding the high end of its forecasted range, net income for the September 2006 quarter was $28.0 million or $0.61 of earnings per diluted share, down 38% from the September 2005 quarter of $44.9 million or $0.95 of earnings per diluted share. Full Fiscal Year 2006 Even with the decline in revenue associated with the phase out of Section 45K, total revenue for the year ended September 30, 2006 was $1.121 billion, up 5% from $1.065 billion reported for the year ended September 30, 2005, […]

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Fuel Tech Income Doubles in Q3

Fuel Tech, Inc. (Nasdaq: FTEK), a leader in advanced engineering solutions that optimize combustion systems in utility and industrial applications, reported results for the quarter and nine-month period ended September 30, 2006. Net sales for the third quarter increased 57% to a record $20.2 million, up $7.4 million from the comparable prior-year quarter. Net income totaled $2.1 million, or $0.09 per diluted share, compared with $1.0 million, or $0.05 per diluted share, in the same year-ago quarter. Net sales for the nine months rose 56% to $57.1 million, up $20.4 million from the comparable year-earlier period. Pre-tax income totaled $9.4 million, a gain of 97% versus the $4.8 million recorded in the comparable 2005 period. Net income for the nine months totaled $5.4 million, up slightly from the $5.0 million posted a year ago, while net income per diluted share was $0.22, unchanged from the year-earlier period, when there were fewer shares outstanding. Results for the third quarter and first nine months of 2006 reflect $1.6 million and $4.1 million in income tax expense, respectively, virtually all of which is non-cash. Net income for the first nine months of 2005 was favorably affected by the recording of a one-time $2.2 […]

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