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US Wind Energy On Track for Another Record Year

The U.S. wind energy industry is on track to installing a record-breaking 3,000 megawatts (MW) this year — generating enough electricity to power approximately 600,000 homes — the American Wind Energy Association (AWEA) said today in its First Quarter Market Report. Construction is under way on a number of facilities scheduled for completion in 2006. Over 400 MW of new plants have already been brought online since January, including the 150-MW Shiloh Wind Farm in California, the 60-MW Spring Creek Wind Farm in Colorado, and the 60-MW completion of the first phase of the Maple Ridge project in upstate New York. Overall, the industry is planning to invest over $4 billion in new wind energy capacity this year. “Wind power is a clean, safe, domestic source of renewable energy, and it helps protect consumers against rising fuel prices,” said AWEA executive director Randall Swisher. “The market is recognizing wind energy’s value.” The industry broke annual installed capacity records in 2005, installing over 2,400 MW or over $3 billion worth of new generating equipment in 22 states. Wind farms were the second-largest source of new power generation built in the U.S. in 2005, after new natural gas power plants. America’s wind […]

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SolarWorld Earnings Rise 122% for Q1

SolarWorld AG (SWV.BE) continues to report impressive results. For Q1, profits rose by 122% over the previous year to 16.5 million EUR (previous: year 7.4 million EUR). Sales increased 43.7% to reach 83.2 million EUR (previous year: 57.9 million EUR). The booming international solar power business in conjunction with stringent cost management are responsible for the results – EBITDA rose by 83% to 32.4 million EUR.(previous year: 17.7 million EUR) Group-wide earnings before interest and taxes (EBIT) doubled to 26.8 (previous year: 13.4) million EUR. The EBIT margin thus improved to 32.2 (previous year: 23.1) per cent. All the figures quoted are exclusive of the solar business activities of the Shell Group whose acquisition the group agreed in the first quarter of 2006. As of the third quarter of 2006 these activities will be consolidated. On May 4, the company will celebrate the opening of its new highly automated Solarfab II, the worldwide leader in the production of solar power modules. Including the acquisition of Shell Group’s solar silicon activities the SolarWorld Group is one of the three largest solar power companies in the world. Website: http://www.solarworld.de     

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SunOpta Announces 1Q Results

SunOpta Inc. (NASDAQ:STKL; TSX:SOY) has announced results for the three months ended March 31, 2006. The Company achieved record revenues for the three months ended March 31, 2006, realizing its 34th consecutive quarter of increased revenue growth versus the same quarter in the previous year. All amounts are expressed in U.S. dollars. Revenues in the quarter increased by 54.6% to $133,312,000 as compared to $86,223,000 in the first quarter of the prior year, led by a 52.5% increase in revenues within the Company’s vertically integrated natural and organic food operations. The Company’s revenue growth in the quarter reflects an internal growth rate of 18.1%, and growth via acquisitions of 36.5%. Operating earnings for the quarter increased by 83.9% to $6,031,000 or 4.5% of net revenue as compared to $3,280,000 or 3.8% of net revenue in the previous year, driven by a 104% increase in operating earnings within the SunOpta Food Group. Net earnings in the quarter were $3,012,000 or $0.053 per diluted common share as compared to $6,605,000 or $0.116 per diluted common share in the prior year. Excluding a net unusual gain realized in the first quarter of 2005 related to the initial public offering of Opta Minerals Inc., […]

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