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Wind Industry Assocations Predict Strong Worldwide Growth for 2007

The American Wind Energy Association (AWEA) reports that the U.S. wind industry is on track to install over 3,000 MW of generating capacity nationwide this year. Texas could account for about two thirds of the new installations, AWEA says. In the first quarter, over 100 MW have come online and over 1,000 more are under construction in Texas alone. The Global Wind Energy Council (GWEC) reports that total world wind capacity grew 25% in 2006, generating some $23 billion worth of new generating equipment and bringing global wind power capacity up to more than 74 GW. “Despite the strong growth we have witnessed in the past, we estimate that the biggest developments are still ahead,” says Angelika Pullen, GWEC’s policy and communications director. “Until the end of the current decade, the cumulative capacity of wind energy installations is predicted to reach 149.5 GW, more than double the installed capacity at the end of 2006.” The North American market is expected to continue as the second largest regional market in terms of total installed capacity with an average annual growth rate of 24.6%. From 9.8 GW installed at the end of 2006, GWEC estimates the market will reach 31.6 GW by […]

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Canadian Solar Reports Q1 Results

Canadian Solar Inc. (Nasdaq; CSIQ), a Chinese solar manufacturer, reported preliminary unaudited Q1 financial results. Revenues almost doubled to $17.5 million, including $2.8 million silicon material sales, compared to $8.8 million for Q106. Net loss was almost cut in half to $3.9 million, or $0.14 per diluted share, compared to $7.1 million, or $0.46 per diluted share, for Q106. the first quarter of 2006. Dr. Shawn Qu, Chairman and CEO said, “Q1 developed as expected, with year-over-year revenue growth, an improvement in blended gross margin and stable pricing compared to Q4 2006. During the quarter, we took the opportunity to reorganize our supply chain to position the Company for success in 2007. In addition, we increased our sales contracts worldwide. The additional sales and marketing resources we added continue to pay off. We saw a clear trend of market demand moving towards high market reputation and financially strong module manufacturers, like CSI. This led to a much higher level of customer activity starting in March 2007, which we expect will further build throughout the year. CSI continues to ramp up its in-house solar cell manufacturing, while also maintaining long-term strategic purchasing from a few selected supply partners. We believe this […]

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