By CORAL SPRINGS, Florida | News Release — Even though the sector continues to grow at astounding rates, renewable energy still only makes up a tiny fraction of both U.S. and Worldwide energy production.
As more countries race to implement greener energy solutions, wind and solar energy projects continue to grab headlines as improved technology and falling costs lead to increase of more renewable energy plants globally.
Energy Sector Companies in focus today are: Atlantic Wind & Solar, Inc. (OTC: AWSL), Clean Energy Fuels Corp. (NASDAQ: CLNE), Canadian Solar Inc. (NASDAQ: CSIQ), Exelon Corporation (NYSE: EXC) and General Electric Company (NYSE: GE).
Atlantic Wind & Solar, Inc. (OTC: AWSL) is pleased to announce the receipt of a Notice To Proceed (NTP) on another utility scale solar power plant in Ontario Canada. The NTP was received recently from the Ontario Power Authority (OPA) and marks the point at which construction can begin. This is a major milestone in the project development as it confirms that the local grid studies have been completed and accepted and that the grid is capable of accepting this power. This is also the point at which many projects in Ontario have failed and were abandoned despite having OPA power purchase agreements in place. Construction has commenced on the estimated 60-day project. The $1.2 million utility scale project is located in the Greater Toronto Area (GTA) of Ontario.
Atlantic Wind & Solar, Inc. reported late last week its results on financial operation for fiscal year ending Dec 31, 2014. Sales growth for AWSL continued with sales up 38 % to $5,409,135.00 and profitability up substantially to $2,410,768.00 representing a 1,138% improvement for the same period. Operating expenses dropped for the 6th straight year to $542,355.00 down 46.6% from the previous year. The balance sheet was improved significantly with accounts payable and accounts receivable reductions of 45.4% and 53.7% respectively. Total liabilities were reduced to $2,267,031 down 53% against total assets of $4,407,107.
In other renewable/green energy news and happenings: Clean Energy Fuels Corp. (NASDAQ: CLNE) recently announced fueling has begun at two new compressed natural gas (CNG) fueling station in Southern California as well as two new truck-friendly CNG stations in Lake Havasu City, Ariz., and Kansas City, Kan. The company also received industry recognition for its new NGV Easy Bay® from Heavy Duty Trucking Magazine as well as the top transit engineering honor at the Canadian Deputy Minister’s Consulting Engineers Awards. Additional agreements representative of Clean Energy’s growing portfolio of natural gas fueling customers were also announced. Read more here: http://finance.yahoo.com/news/clean-energy-open-four-natural-100100636.html
Canadian Solar Inc. (NASDAQ: CSIQ), one of the world’s largest solar power companies, recently announced that it is scheduled to attend 2015 CICC Conference on Tuesday, April 21 to Wednesday, April 22, 2015 at the Waldorf Astoria hotel in New York City. During the conference, Dr. Shawn Qu, Canadian Solar’s Chairman and Chief Executive Officer will participate in a clean energy panel to discuss assessment and outlook of photovoltaics, alternative energy vehicles and battery technologies on the afternoon of April 22, 2015. Mr. Ed Job, Director of Investor Relations will be available to meet with institutional investors on April 21, 2015.
Exelon Corporation (NYSE: EXC) news: Commonwealth Edison Company (“ComEd”), a unit of Exelon Corporation EXC, recently filed its annual delivery service formula rate request for the distribution of electricity to the Illinois Commerce Commission (“ICC”). If approved by the concerned authority, residential consumers will be getting electricity at lower remunerations applicable Jan 2016. Per the appeal, the average monthly electric bill for residential customers will decrease by $1 from the previous level. It reflects a year over year decline of around $50 million in 2016. ComEd’s ongoing efforts on cost management, and operational efficiencies backed by systematic smart grid investments primarily led to the filing of the rate reduction appeal.
General Electric Company (NYSE: GE) News – A unit of General Electric Co. will invest in a 96-megawatt solar power station in southwestern Japan developed by Pacifico Energy K.K. The plant, under construction in Miyazaki prefecture, will begin operations in 2018, GE Energy Financial Services and Pacifico Energy said in a statement back late March. A group of Japanese banks led by the Bank of Tokyo-Mitsubishi UFJ will provide a total 35 billion yen ($291 million) in loans, according to the statement. No other financial information was provided.
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