Shares in the suffering utility Pacific Ethanol shot up over 8 percent on Tuesday, reaping the rewards of cheaper ethanol prices, thanks largely to what is expected to be a bumper crop year for U.S. corn. Units of Pacific Ethanol that owned four ethanol plants filed for Chapter 11 protection last month, stung by volatile prices for corn, low fuel demand and the credit crisis.******A senior company official at India’s Suzlon Energy said the wind power company was looking at selling assets and shares to lower its debt, dealing a major blow to its shares, falling 11.44 percent in Tuesday trading.
Indian wind turbine maker Suzlon Energy’s shares gained 8 percent on Tuesday, after sources told Reuters that Suzlon’s founders are looking to raise up to $48 million through the sale of a 2 percent stake in the world’s fifth-largest wind turbine maker.
Shares in leading solar cell maker Q-Cells closed the day up 2.39 percent after it reported profits that missed market forecasts and CEO Anton Milner and CFO Hartmut Schüning tried to assuage investor fear over solar project funding.
German solar peer Solon posted a bigger-than-expected first-quarter net loss and echoed Q-Cells’ financing concern.
As part of Reuters new Green Business section, we have chosen a diverse group of companies to serve as a proxy for the emerging green technology sector. Over the coming months we’ll be discussing each of them at length, and rebalancing our portfolio to reflect trends in the industry.
Click here to see our portfolio in action. You can track our performance against benchmarks, comment on our choices, and create a portfolio of your own.
Comverge, Inc is one of the leading demand-response companies, known for their role in limiting electricity use during peak demand, employing technology to manage large companies’ power usage and control their costs. Their software can automatically adjust an air conditioner’s temperature or turn off a swimming pool pump when power supplies are tight, reducing prices for suppliers and end users by lowering end user demand at peak times.