- Company Completes Construction on Latest Solar PV Plant
CORAL SPRINGS, Florida, May 14, 2015
Wind, solar and other forms of renewable energy could be the fastest growing power sources over the next few decades as the U.S. Energy Information Administration forecasts renewable energy will be the fastest-growing power source through 2040. Energy Companies in focus today are Atlantic Wind & Solar, Inc. (OTC: AWSL), Canadian Solar Inc. (NASDAQ: CSIQ), Williams Partners (NYSE: WPZ), First Solar, Inc. (NASDAQ: FSLR) and SunPower (NASDAQ: SPWR)
Atlantic Wind & Solar, Inc. (OTC: AWSL) is pleased to announce the addition of another utility scale solar plant in Ontario Canada now powering the grid. With the formal receipt of a notice of Commercial Operation (COD) from the Ontario Power Authority (OPA) this marks the final step in the construction and connection of this solar plant.
The solar power plant was developed by its Canadian subsidiary Atlantic Solar Inc. The photovoltaic plant consists of a 130 KW AC / 137.25 KW DC fixed array of 450 multi-crystalline modules at 305W each. The power will be sold to the Ontario Power Authority at a rate of 71.3 cents per Kwh for 20 years. Atlantic Wind and Solar is a developer of utility scale renewable energy plants with over 750 MW's of projects at various stages of development in Canada, South America and the Caribbean.
Just recently, Atlantic Wind & Solar announced its results on financial operation for fiscal year ending Dec 31, 2014. Sales growth continued with sales up 38 % to $5,409,135.00 and profitability up substantially to $2,410,768.00 representing a 1,138% improvement for the same period. Operating expenses dropped for the 6th straight year to $542,355.00 down 46.6% from the previous year. The balance sheet was improved significantly with accounts payable and accounts receivable reductions of 45.4% and 53.7% respectively. Total liabilities were reduced to $2,267,031 down 53% against total assets of $4,407,107.
In other energy and alternative/renewable energy news and happenings: Canadian Solar Inc. (NASDAQ: CSIQ), one of the world's largest solar power companies, recently announced that it has signed a US$250 million loan agreement with China Minsheng Bank. The loan facility has a three-year maturity and will be used to partially finance the acquisition of Recurrent Energy LLC and the construction of the utility-scale solar projects in USA. "We are very delighted to receive this loan facility from China Minsheng Bank, a large commercial bank in China. Our ability to get support from both international and Chinese financial institutions is a testament to Canadian Solar's position as a global leader in the utility-scale solar energy business," said Dr. Shawn Qu, Chairman and Executive Officer of Canadian Solar. "We look forward to continuing our cooperation with Minsheng Bank and other financial institutions to fund our profitable growth."
Williams Partners (NYSE: WPZ) shares are up 21.48% to $57.71 on heavy volume trading on Wednesday after its parent company Williams Companies (NYSE: WMB) announced plans to purchase its subsidiary in an all stock deal valued at about $13.8 billion. The energy infrastructure company reported that the acquisition will add $5.4 billion in earnings to its balance sheet in 2016. "We continue to see an expanding portfolio of projects to connect the best supplies of natural gas and natural gas products to the best markets. The lower cost of capital and improved tax benefits expected from this transaction increase our confidence in extending the duration of our expected 10 percent to 15 percent dividend growth rate through 2020," said CEO Alan Armstrong. Read the full article at http://www.thestreet.com/story/13150106/1/williams-partners-wpz-stock-spikes-after-14-billion-purchase-by-williams-co.html?puc=yahoo&cm_ven=YAHOO
Nashville-based renewable energy provider Silicon Ranch Corporation and Tempe-based First Solar, Inc. (NASDAQ: FSLR) announced earlier this month the selection of First Solar technology and products for the 12-Megawatt (MW)AC solar power project that will provide power to Aerojet Rocketdyne and Arkansas Electric Cooperative Corporation (AECC) in East Camden, Arkansas. Silicon Ranch has selected First Solar's advanced thin film modules and solar tracker racking solution for installation at Silicon Ranch's Highland Industrial Park solar field adjacent to Aerojet Rocketdyne's 1,200-acre manufacturing and test facility. Electricity from the solar generation facility will directly supplement Aerojet Rocketdyne's daytime operations. Under a unique set of power purchase agreements, excess electricity generated by the installation will be released to Arkansas Electric Cooperative Corporation (AECC) and integrated into the cooperative's diverse generation portfolio.
With a 412-kilowatt high efficiency SunPower (NASDAQ: SPWR) solar power system installed on its rooftop earlier this year, Amman Academy in Jordan estimates it is now powering approximately 70 percent of its operations with emission-free solar energy. "Solar power makes sense for schools because it allows them to allocate more budget to academic and enrichment programs for students rather than spend those funds on operational costs such as lighting and air conditioning," said Laurent Longuet, SunPower managing director, Middle East. "Jordan is a leader in solar power development in the Middle East, and we applaud the country for its policies encouraging homeowners and businesses to reduce their electricity costs by installing solar power systems."
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