BANGALORE, June 6 (Reuters) – Investors on Monday cheered
the stocks of EnerNOC Inc and Comverge Inc ,
after federal energy regulators on Friday said the proposal to
cap payments to demand-response companies may be “unlawful.”
The much-anticipated decision could assuage some worries of
profit reduction at the energy demand-response companies, which
work with grid operators, utilities and large power consumers to
lower electricity use in expensive peak hours.
BANGALORE, May 31 (Reuters) – Global shipping companies
transporting power-generating coal will likely ride an increase
in import from largest consumer China, following the country’s
decision to hike electricity tariffs for the first time in
nearly two years.
China said on Monday it would raise tariffs for some users
by about 3 percent, as it tackles its worst power shortage in
seven years — partly the result of little incentive to produce
NEW YORK/BANGALORE (Reuters) – Specialty chemicals maker Ashland Inc (ASH.N: Quote, Profile, Research, Stock Buzz) has struck a deal to buy privately held International Specialty Products Inc for $3.2 billion as part of a plan to bolster its already-strong roster of products for the skin care, drug and energy sectors.
Shares of Ashland, best-known for its Valvoline oil brand, rose 13 percent in early trading.
BANGALORE, May 24 (Reuters) – GT Solar International Inc
forecast first-quarter earnings and revenue much below
market estimates, as the solar and LED equipment manufacturer
expects to book a majority of its new orders in the second
Buoyed by a string of new orders recently, Merrimack, New
Hampshire-based GT Solar on Monday upped its earnings, revenue
and margin outlook for fiscal 2012. It expects revenue in the
second and fourth quarters to be the strongest.
BANGALORE (Reuters) – Solar and LED equipment manufacturer GT Solar International Inc’s string of contract wins and robust share gains this year could attract suitors eager for a foothold in a relatively stable corner of the volatile solar power industry.
Headquartered in Merrimack, New Hampshire, GT Solar makes equipment to manufacture both the cells used to make solar panels and polysilicon wafers, the solar industry’s key raw material. It is the world’s third-largest supplier of photovoltaic solar equipment behind U.S. rival Applied Materials Inc and Germany’s Centrotherm.
BANGALORE, May 10 (Reuters) – Energy Conversion Devices Inc
will lay off 300 people, or a fifth of its workforce,
as it aims to lower costs amid cut-throat competition, and the
solar company said its chief executive had resigned.
The Auburn Hills, Michigan-based company posted its eighth
straight quarterly loss on Tuesday, as total revenue plunged 70
percent due to lower sales in European markets.
BANGALORE, May 3 (Reuters) – Overseas Shipholding Group
, the No. 2 independent tanker group in the world,
posited a narrower-than-expected quarterly loss as a 50 percent
jump in its U.S. business revenue offset a decline in rates paid
The U.S. segment’s time charter equivalent (TCE) sales rose
to $68.4 million — one third of total revenue — as one shuttle
tanker and two product carriers delivered in 2010 started
multi-year contracts at attractive rates.
BANGALORE, May 2 (Reuters) – JinkoSolar Holding Co’s
first-quarter results beat Wall Street expectations as the
Chinese solar company’s expansion into new markets boosted
sales, but it forecast a cautious second quarter as renewable
energy subsidies continue to fall.
Solar investors have feared that companies like JinkoSolar
and LDK Solar’s exposure to Italy and Germany, the top
markets that are to slash support for solar energy, would hurt
results in the next few quarters.
BANGALORE, April 26 (Reuters) – Companies such as Carpenter
Technology that serve aircraft makers are flying high on
demand for their alloys as more people take to the skies in
emerging Asian markets.
Carpenter, whose alloys were used in aeroplanes made by the
Wright Brothers, posted its first market-topping profit in four
quarters, as sales to the aerospace market, its biggest, rose by
nearly a third to $195.7 million.
BANGALORE, April 21 (Reuters) – A NextEra Energy Inc
unit will sell 100.8 megawatts (MW) of wind energy to Google
Inc’s energy subsidiary, the companies’ second such
agreement that would help the Internet search giant power its
data centers using renewable sources of energy.
As part of plans to reduce its carbon footprint, Google has
been buying renewable electricity to power its data centers. Its
strategy is to select a clean power project that is on the same
grid as one of its centers.