Last $46.09 USD
Change Today +0.66 / 1.45%
Volume 2.1M
ARMH On Other Exchanges
Symbol
Exchange
London
OTC US
NASDAQ GS
Xetra
Frankfurt
As of 8:10 PM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).
text size: T | T
PR Newswire  08/13/2014 9:05 AM ET
Energy Stocks Business Operations Continue to Grow - Company Finalizes $4 Mil Acquisition for Two Operating Wind Farms

CORAL SPRINGS, Florida, August 13, 2014 /PRNewswire/ --


Expectations of an improving economy drive expansion for Energy Sector Companies with announcements of latest acquisitions, accomplishments and joint ventures as industry milestones are achieved:  Juhl Energy Inc. (OTC: JUHL), First Solar, Inc. (NASDAQ: FSLR), FuelCell Energy Inc. (NASDAQ: FCEL), NRG Yield Inc. (NYSE: NYLD) and SolarCity (NASDAQ: SCTY)

Juhl Energy, Inc. (OTCQB: JUHL), a leading provider of clean energy solutions and a leader in community wind power development, announced today that the Company has completed its previously announced acquisition of two operating wind farms in Iowa.  The $4 million acquisition closed on August 11th, 2014, and the wind projects are now wholly-owned by Juhl Energy.  This Acquisition Brings JUHL's Total Owned and Operated Wind Farm Assets to Over $30 Million

The two GE XLE 1.62 MW wind turbines are located in North Central Iowa near the towns of Manley and Kensett.  The wind turbines are installed on private farmland approximately 10 miles apart from each other and have been commercially operating since 2011.  "This transaction underscores our ongoing commitment to building our residual, independent power production business made up of wind farms today and other forms of renewable energy in the future," stated John Mitola, President of Juhl Energy.  "We believe that building our asset ownership and operating division, with its predictable revenue and cash flow, is the foundation for the ongoing strength of our Company.  These two Iowa projects are representative of the hundreds of projects under 50 MWs -the market sector where Juhl stands head and shoulders above others in its ability to own, operate and maintain such assets."    

Read the entire JUHL press release at  http://www.financialnewsmedia.com/profiles/juhl.html

"The Iowa projects are being acquired with bank financing and our Juhl Renewable Asset, Inc.  preferred stock," continued Mitola.  "Currently our JRAI Preferred stock is only available to accredited investors who have an existing relationship with the Company.  Our JRAI subsidiary is similar to many of the "yieldcos" that have recently received attention in the market, and it is paying a 9% yield reliably since inception.  Juhl and our JRAI subsidiary now own four wind projects totaling approximately 25 megawatts.  We maintain our long-term goal of building ownership capacity and hope to progress to management's stated goal of up to 200 megawatts - which would represent energy production assets with an initial installed cost of approximately $400 million.  We believe we can get there by adding small projects alongside medium-sized projects one step at a time over the next few years."  

First Solar, Inc. (NASDAQ: FSLR) recently announced it has set a world record for cadmium-telluride (CdTe) photovoltaic (PV) research cell conversion efficiency, achieving 21.0 percent efficiency certified at the Newport Corporation's Technology and Applications Center (TAC) PV Lab. The record-setting cell was constructed at the company's Perrysburg, Ohio manufacturing factory and Research & Development Center, using processes and materials designed for commercial-scale manufacturing. The record has been documented in the U.S. Department of Energy's National Renewable Energy Laboratory (NREL)  "Best Research Cell Efficiencies"  reference chart. This certified result bests the previous CdTe record of 20.4 percent conversion efficiency, which was set by First Solar in February of 2014, and represents the seventh substantial update to CdTe record efficiency since 2011. The achievement also places First Solar's CdTe research cell efficiency above copper indium gallium diselenide based solar cells (CIGS) at 20.9 percent, and well above multicrystalline silicon (mSi), which peaked at 20.4 percent in 2004.  

NRG Yield Inc. (NYSE: NYLD), a company created to hold mostly renewable-energy assets by NRG Energy Inc., bought North America's largest wind farm from Terra-Gen Power LLC.   The company paid $870 million for the 947-megawatt Alta Wind facility in Tehachapi, California, and assumed $1.6 billion in non-recourse project financing, Princeton, New Jersey-based NRG Yield said today in a statement. The deal also includes a portfolio of land leases.  Projects like Alta Wind contribute to "visible dividend growth" for investors, David Crane, NRG Yield's chairman and chief executive officer, said in the statement. The company is a so-called yield co, which own and operate renewable power plants, offering lower risk profile and returns from their electricity sales. It currently pays a dividend of 36.5 cents a share.  Read the full story at http://www.bloomberg.com/news/2014-08-12/nrg-yield-acquires-north-america-s-largest-wind-project.html?cmpid=yhoo

FuelCell Energy Inc. (NASDAQ: FCEL), a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, announced a broadening and deepening of the existing relationship with  NRG Energy  (NRG) including a $35.0 million investment in FuelCell Energy common stock by NRG Energy and the establishment of a new $40.0 million revolving construction and term loan facility by NRG Energy for FuelCell Energy to use for project development. NRG Energy now owns approximately 17.0 million shares of the Company's common stock, or 6.0 percent, including 2.4 million shares owned prior to this transaction. "We believe that clean distributed power generation from fuel cells will be one of the key technologies that drive our country toward a cleaner energy future," said Mauricio Gutierrez, Chief Operating Officer, NRG Energy, Inc. "We want to actively participate in the construction of FuelCell Energy power plants in order to promote choice and meet the specific needs of our existing and future customers."  

SolarCity (NASDAQ: SCTY) recently announced financial results for the second fiscal quarter ended June 30, 2014.  In the second quarter of 2014, SolarCity continued to build out a stronger and broader platform to significantly expand the adoption of distributed, clean energy. We experienced unprecedented demand in the quarter with triple-digit year-over-year growth in all our key operating metrics. Our development efforts continued to gather momentum with 107 MW Deployed and 218 MW Booked in the quarter. We passed the 140,000-customer mark in June 2014-with more than 30,000 customers added in the second quarter alone-an increase of 218% over the year ago quarter.  Read the full results at http://finance.yahoo.com/news/solarcity-announces-second-quarter-2014-200500482.html

In other Energy News:  Kinder Morgan Energy Partners, L.P. (NYSE: KMP) recently announced that its 50-50 joint venture with Imperial Oil Limited (IMO.TO) has entered into additional firm take or pay agreements with strong, credit worthy oil company majors sufficient to allow a planned expansion project to move forward by adding incremental capacity of 110,000 barrels per day (bpd) at the Edmonton Rail Terminal. The terminal is now almost a year into construction. The Edmonton Rail Terminal will increase its capacity at startup in the first quarter of 2015 to over 210,000 bpd and potentially up to 250,000 bpd. The terminal will be connected via pipeline to Kinder Morgan's adjacent Edmonton storage terminal and will be capable of sourcing all crude streams handled by Kinder Morgan for delivery by rail to North American markets and refineries. The rail terminal is being constructed and will be operated by Kinder Morgan, and will connect to both Canadian National and Canadian Pacific mainlines. Including the addition of the expanded capacity, KMP's investment in the project now totals approximately $232 million.

FinancialNewsMedia.com  is leading provider of third party publishing &  news dissemination services.  If you would like more information regarding our news coverage solutions, please visit  http://www.financialnewsmedia.com  for more details.  Get an edge on the market with our  Premium News Alerts  that are FREE for a limited time at  http://www.financialnewsmedia.com/.  Follow us on Facebook:  http://www.facebook.com/financialnewsmedia  and Twitter:    http://twitter.com/FNMgroup.

DISCLAIMER:   FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.   FNMG is NOT affiliated in any manner with any company mentioned herein.   FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.   FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.    The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.   All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.   FNMG is not liable for any investment decisions by its readers or subscribers.   Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.   For current services performed FNMG has been compensated one thousand six hundred dollars for news coverage of the current press release issued by Juhl Energy, Inc. by the company.

FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.    

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

Contact Information:
Company:    FN Media Group, LLC
Contact email:    editor@financialnewsmedia.com
U.S. Phone:  +1(954)345-0611
URL:  http://www.financialnewsmedia.com

SOURCE FN Media Group, LLC

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
ARMH:US $46.09 USD +0.66

Industry News

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact ARM HOLDINGS PLC-SPONS ADR, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.