The Business Day In Global Warming (SRP, SATC, ETLY, BP, CSIQ, AMAT, FSLR)

Energy

Published: October 2, 2007 1:36 pm

Last Updated: April 14, 2020 1:15 pm

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Sierra Pacific Resources (NYSE:SRP) announced today that its two Nevada-based utility subsidiaries, Nevada Power Company and Sierra Pacific Power Company, have issued a Request for Proposals for renewable energy resources: solar, wind, geothermal, biomass and other resources eligible for portfolio energy credits under the Nevada renewable portfolio standard.

SatCon Technology Corporation® (NASDAQ: SATC) announced that it has been awarded a $2 million contract by the Air Force Research Laboratory to develop the complete electric power conversion package for a hybrid electric vehicle for special operations applications.

ECOtality, Inc. (OTCBB: ETLY) has completed the acquisition of InnergyPower Corporation. Innergy Power is a leader in the design andmanufacture of thin sealed rechargeable lead batteries and high qualityflat-panel multi-crystalline solar modules.

Babcock & Brown and BP Alternative Energy, part of BP plc (NYSE:BP)announced that Colorado Governor Bill Ritter today dedicated the CedarCreek wind farm. When fully operational, the 300 megawatt (MW) CedarCreek wind farm will be one of the largest single wind-power facilitiesin the United States.

Canadian Solar Inc. (NASDAQ:CSIQ), based in China, signed a contract toprovide solar modules to supply American Capital Energy with solarmodules for an undisclosed financial amount.

Germany has recently boosted the proportion of renewable energy as asource for heat production from 6% to 14% by 2020, although this wasnoted as either known or expected.

Yesterday, Applied Materials (NASDAQ:AMAT) was featured in InvestorsBusiness Daily come out with an advance that could lower the cost ofmaking solar panels.

Yesterday, an upgrade from Lazard Capital Markets helpedshares of First Solar Inc. (NASDAQ:FSLR) rally past the $125.00target. As one of the biggest winners of last quarter, First Solar wasalso a winner from the fund manager window dressing at the end of the quarter.

It is obvious that if you compare today’s and yesterday’s news to lastweek, it looks like many companies were issuing releases last weekaround the Clinton initiatives and around the UN meetings regardingclimate change or global warming.

Last week the esteemed Ken Heebner talked up energy prices;
T.Boone Pickens was also recently bullish on energy and on his alternative energy play;
Goldman Sachs recently hiked its super-spike range for oil to $135/barrel and $4.50/gallon.

Jon Ogg
October 2, 2007

As a reminder, whether you prefer the term “Global Warming” or “ClimateChange” is not the issue as far as 24/7 Wall St. covers it. Greenbusiness has become big business, and this affects many publiccompanies today.

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