SGRE Builds World's Largest Wind Turbine Blade
Spanish wind power solutions provider Siemens Gamesa Renewable Energy (SGRE) is building what it claims is the world's largest blade testing rig at its facilities in northern Denmark.The new facility will be capable of performing full-scale tests on the next generations of Siemens Gamesa rotor blades and is expected to be fully operational before the end of the year, the company said.The investment in testing will generate more savings for wind turbine clients of Siemens Gamesa.
Sinovel Fined for AMSC Trade Secret Theft
A U.S. judge ordered Sinovel Wind Group Co Ltd, a Chinese wind turbine maker, to pay a $1.5 million fine after the company was convicted and charged for stealing trade secrets from Massachusetts-based AMSC. U.S. District Judge James Peterson in Madison, Wisconsin, also sentenced Sinovel to one year of probation, during which it must pay the unpaid balance of a $57.5 million settlement it reached with AMSC. The U.S. Justice Department said Sinovel has already paid AMSC, formerly known as American Superconductor Inc…
Vestas, Maersk Tackle wind turbine Transport, Installation Costs
Project has secured $7.3 mln in public funding; sector races to build ever bigger turbines. Danish wind turbine maker Vestas and offshore services firm Maersk Supply Service are teaming up to tackle the cost of transporting and installing ever larger wind turbines. Seeking to remain profitable as European countries phase out subsidies, the industry is turning to ever bigger turbines to harness power more efficiently and respond to pricing pressure for new equipment around the globe. Vestas and fellow Danish company Maersk Supply Service, part of A.P.
Danish Delegation in Iran Eyes Shipping, Energy Deals
Danish companies are eyeing a series of energy and shipping projects in Iran following a visit this week by the country's foreign minister, local news agencies and officials said on Tuesday. The Danish foreign ministry said its minister, Kristian Jensen, travelled to Tehran with a delegation representing 58 companies on Monday and that exports could increase by 500 million Danish crowns ($72 million) once sanctions against Iran's nuclear programme are lifted. News agency Shana cited Iranian Petroleum Minister Bijan Zanganeh as saying Danish companies were interested in developing oil fields in the Caspian Sea including the South Pars gas field, which also produces condensates. Global conglomerate A.P. Moller-Maersk is in the oil industry through its Maersk Oil unit.
Turbine Maker Vestas to pay Dividend
Analysts disappointed by 2015 financial targets; shares fall over 6 percent. Danish wind turbine maker Vestas proposed its first dividend payment in 12 years after beating fourth-quarter profit forecasts, though its shares fell on what analysts described as conservative targets for 2015. The dividend payment is a sign Vestas Wind Systems has finally turned the corner after a tough few years during which it slashed jobs and costs as faltering economies and cutbacks in government subsidies hit demand for its turbines. Vestas proposed a dividend of 3.90 Danish crowns per share, equivalent to 29.5 percent of 2014 net profits, just below the 0.52 euros or 4 crowns expected by analysts in a Reuters poll.
First Dividend from Nordex Likely
German wind turbine maker Nordex is mulling paying a dividend for the first time since listing on the stock exchange as part of efforts to create a long-term investor base, its chief financial officer told a German newspaper. "We will think about it but I cannot already today promise a dividend," Bernard Schaeferbarthold told Boersen-Zeitung newspaper in an interview published on Saturday. Nordex, which is part-owned by Germany's richest woman Susanne Klatten, wants a stable base of long-term investors, Schaeferbarthold said. "Dividends could help us in that regard," he said.
Vestas Profit Beats Forecast
Danish wind turbine maker Vestas Wind Systems posted much higher than expected second-quarter earnings and slightly increased its guidance for the full year, signaling its turnaround from the brink of collapse has taken hold. Its shares opened up more than 5 percent on Wednesday, touching a two-month high of 290 Danish crowns, and were trading 2.7 percent higher at 282.6 crowns by 0715 GMT. Vestas said earnings before special items jumped to 104 million euros ($138 million) from 12 million a year ago, compared to analysts' expectations of 63 million.
Wind Turbine Maker Vestas Turns Q1 2014 Profit
Danish wind turbine maker Vestas surprised the market on Friday by returning to profit in the first quarter due to improved margins, higher revenue and lower fixed capacity costs, sending its shares up 7 percent. Operating profit before special items amounted to 40 million euros ($55.45 million) in the quarter from a loss of 108 million euros a year ago. Analysts polled by Reuters had on average expected a 29.9 million euros loss. Vestas has shed more than 5,000 jobs, closed plants…
Wind turbine maker Nordex turns corner in overhaul
Shares rise 4.6 percent to top TecDAX. German wind turbine maker Nordex on Friday said it had swung to an operating profit last year, boosted by stronger demand in its core European market as well as cost cuts after shutting down production in China and the United States. Nordex said its earnings before interest and tax (EBIT) reached 44.3 million euros ($60.6 million) in 2013, up from a loss of 61.1 million euros in 2012. Sales grew a third to 1.429 billion euros, the group said. Analysts had, on average, expected an EBIT of 46.9 million euros on sales of 1.417 billion. "We were able to achieve our planned turnaround in 2013. It is now very important to ensure that this success is made permanent and…
Gamesa Turns to Profit in 2013
Reuters - Spanish wind turbine maker Gamesa posted on Thursday a 45 million euro ($61.50 million) profit in 2013, after making losses in the same period a year earlier when it booked writedowns for stalling demand and staff layoffs. Gamesa, whose main European competitor is Denmark's Vestas Wind Systems, said recurring earnings before interest and taxes (EBIT) climbed 175 percent to 129 million euros in 2013 from a year ago. The company sold 1,953 megawatts of wind turbine capacity in 2013, in line with its target, and said it expected to sell between 2,200 and 2,400 megawatts of capacity this year. ($1 = 0.7317 euros) (Reporting by Andres Gonzalez; Writing by Tracy Rucinski; Editing by Fiona Ortiz)
Gamesa Examining Ports for Offshore Wind Base
According to a June 8 report from Bloomberg, Gamesa Corporacion Tecnologica SA, Spain’s largest wind-turbine maker, said it’s scoping out U.K. ports as possible bases for offshore wind power as Britain pushes development of the technology to meet its renewable power and greenhouse gas targets. (Source: Bloomberg)