Post #: 192
Seems clear to me there is a lot of money to be made from wind turbines. Why are we giving these great profits away to other countries? It makes no sense...
They are already getting close to doing 10 billion dollars in sales a year. Why isn't America jumping all over this? Why don't we embrace the future instead of trying to hold on to the past?
Wind turbine maker's earnings more than doublehttp://www.reuters.co...
Tue Nov 6, 2007 1:06pm EST
By Gelu Sulugiuc
COPENHAGEN (Reuters) - Denmark's Vestas reported more than doubled third-quarter operating profit on Tuesday and forecast a 25 percent sales increase in 2008, boosting its shares nearly 16 percent to a new high.
Earnings before interest and tax (EBIT) for the world's biggest maker of wind turbines reached 102 million euros ($147.5 million), against an expected 103 million in a Reuters poll of 14 analysts and up sharply from 40 million a year before.
Vestas Wind Systems AS is riding a surge in demand for renewable energy sources amid surging oil prices and increasing concerns about the effects of greenhouse gas emissions.
Vestas posted sales of 1.2 billion euros, as expected, up from 842 million euros in the year-ago quarter.
"The improvement ... was achieved on the back of the higher level of activity, higher prices and the many efficiency-improving measures taken since May 2005," Vestas said in a statement.
The company reiterated its forecast for full-year 2007 sales of 4.5 billion euros and narrowed its EBIT margin forecast to about 8 percent, from the previous range of 7 to 9 percent.
For 2008, the company forecast a 25 percent rise in sales to about 5.7 billion euros and an EBIT margin increase to 10 to 12 percent. It said it would achieve the improved margin through better interaction with suppliers and unspecified in-house initiatives.
"The growth is globally driven," Vestas Chief Executive Ditlev Engel told Reuters, adding that the company would increase investments significantly to meet demand.
Vestas shares closed up 15.7 percent at 516 crowns, outperforming the Copenhagen exchange's top-20 index, which was up 1.1 percent, having traded as high as 520 crowns -- surpassing its previous peak of 476.50 crowns set on October 26.
Vestas also said it would invest about 620 million euros to expand production in China and the United States.
"One of the few things that is surprising in this report is that they are gearing up for huge investments," said Jacob Pedersen, an analyst at Sydbank. "I didn't expect it would rise so markedly, but it is positive."
Vestas lowered its market share expectations for 2008 from at least 35 percent to 30 to 32 percent, saying the EBIT margin target was its first priority.
Vestas said it shipped turbines totaling 1,245 megawatts in the quarter, up from 1,060 megawatts a year ago. Its order backlog rose to 4.1 billion euros by September 30 from 3.1 billion euros in 2006.
The company said its board intends to propose no dividend for 2007 despite improved cash flow as Vestas needs capital to finance its expansion.
Edited by User 4,189,976 on Nov 6, 2007 7:19 PM
Post #: 193
This looks promising.
Wind power on N.C. horizon?
Interior secretary says offshore gusts seen as `new frontier'
(Raleigh) News & Observer
A year after a bitter congressional fight over offshore drilling for oil and gas, the Bush administration wants to tap North Carolina's winds, waves and currents as a source for alternative energy.
The plans could mean that within a few years, towering wind turbines could spin off North Carolina's Outer Banks to harness the gusts that have tossed ships there for centuries.
U.S. Secretary of Interior Dirk Kempthorne said Monday that the 1.8 billion acres of the federal Outer Continental Shelf could become "a new frontier" for the nation's energy resources.
His remarks come a year after Congress argued over whether to open much of the nation's federal waters to drilling for oil or gas. Those proposals, ultimately shot down, brought strong opposition from environmental groups and some states.
But now the administration has found some common ground with environmental groups in the push for wind- and water-generated energy.
"We wouldn't give blanket approval for these things, but the bar would have to be high for us to reject it," said Josh Dorner, a spokesman for the Sierra Club in Washington. "There's a lot of wind offshore. Finding ways to tap that would be excellent."
The federal government is entertaining bids beginning this week for companies to put testing equipment, such as meteorological towers, in the ocean waters to gather data on wind, wave or current energy.
Kempthorne said the agency is furthest along in understanding how to capture wind energy, which has the greatest potential impact on North Carolina.
The U.S. Department of Interior, which governs federal lands, figures 70 percent of the ocean's wind power could be found in the Mid-Atlantic states in waters less than 60 meters deep.
From Delaware to North Carolina, experts think they can harness enough of the south and southwesterly prevailing winds to power 50 million homes.
"Wind is a lot steadier and stronger offshore," Dorner said. "You can put some really massive turbines out there."
Federal waters of the Outer Continental Shelf begin at three miles offshore and run to 200 nautical miles, and placement of wind turbines would depend on a variety of factors, including wind resources and environmental impacts.
National park and historical sites would be off-limits, as would some fisheries.
It's unclear, though, how much say individual states would have on the placement of offshore energy facilities in federal waters.
Chris Canfield, executive director of Audubon North Carolina, said the group supports wind energy but would have to review each offshore commercial facility on a site-by-site basis.
The state's coastline is a popular track for migratory birds, he said, and several endangered species feed in the waters off Cape Hatteras.
Still, he said, the average wind turbine only kills two or three birds a year. A more possible scenario, he said, might occur if residents worried about the sight of turbines use bird strikes as grounds for their opposition.
"Overall, I think it's going to be people reacting to what it looks like to have wind turbines, and they'll try to use birds to make their case," Canfield said.
Other parts of the country have other potential.
Farther south, the agency says most of the potential for sub-surface current energy is in the Gulf Stream flowing northward off Florida's east coast. There, capturing just one-thousandth of the Gulf Stream's energy could supply a third of the Sunshine State's energy, Kempthorne said.
And wave energy has the most potential on the Pacific Coast, between Washington and Northern California, said Interior officials Monday.
If harnessed, just 15 percent of the nation's wave energy, Kempthorne said, could supply 22 million homes with energy.
Post #: 197
Can you smell the BS?!
The President of the local utility company says offshore wind would be too risky and costly. He doesn't back it up though. Some "experts" have come up with numbers but they are not cited.
If the utility company is just passing on the costs to the consumer why would the President of this utility company care? What's his interest in this?
The community has one of the highest cancer rates in the country presumably due to the existing old fossil power plant there.
Some of the concerned citizens at the meeting think the cost of power will drop in price if they use offshore turbines.
The President encourages the citizens to speak up and attend as many public meetings as possible. That his company is meeting with community groups every couple of days presumably to enlighten them. He says that they can buy their required green energy much cheaper than produce it themselves with the strong steady winds they have. However when asked if they could buy the quantities they needed he didn't know!
How stupid do you have to be inorder to be a president of a utilities company? What's it take? No brains but a willingness to go duck hunting with Cheney?
I don't know the details here but with remarks and lack of answers this President has I don't believe I need details. The guy is obviously full of BS and needs to be removed.
DELMARVA: Utility says wind power is risky, costly
The News Journal
DOVER -- Delmarva Power is taking its case against a proposed offshore wind farm to community groups, saying the plan is too risky and would be too costly to utility customers.
Delmarva President Gary Stockbridge spoke to about 40 citizens at a public library Monday night.
In his address, Stockbridge said Delmarva customers can't afford the cost of a long-term offshore wind power contract. A recent Public Service Commission staff report shows that the proposed 150-turbine wind farm 11.7 miles off Rehoboth Beach could add a significant premium to customers' monthly bills, he said.
But in interviews, several people in the audience said they saw the wind farm as an investment in the long-term health of the state's residents.
"Delaware has significant problems with pollution. We've got one of the highest cancer rates in the country. That's a cost that somebody should be trying to figure into the overall equation," said Dave Bailey of Bear.
Several also said it might be more expensive to try to buy renewable electricity on the open market, and continue to make extensive use of fossil fuels.
"I think that if they go with the wind farm, I think you're going to see costs drop," said Chris Cicora of Bear.
Stockbridge noted that Delmarva will be required to buy 20 percent renewable electricity by 2019. One way to do that is to buy credits from green power providers throughout the region.
Delmarva would be able to buy renewable energy credits at a much lower cost than buying power from a Delaware offshore wind plant, Stockbridge said. Even paying a penalty to the state for failing to buy those credits would cost about as much as buying from the proposed offshore wind farm, he said.
Stockbridge said he was concerned Delmarva customers would be stuck with an expensive contract for offshore wind power, while customers with competing companies wouldn't have to pay those costs.
He suggested green power providers compete to supply Delmarva, rather than having a 25-year contract forced on his customers. He urged people to contact the government and make their feelings known.
"To not respond, in my mind, leaves open that the decision may not reflect what your interests are," Stockbridge said.
Bluewater makes its case
Representatives of Bluewater Wind, who have long conducted meetings with community groups, also attended the event. They made their case that their plans would stabilize electricity costs in a way no other option could.
The wind farm would be an emissions-free addition to the state's electricity portfolio, they said.
Bluewater spokesman Jim Lanard said there will be a tremendous demand in area states to buy renewable energy credits, but not nearly enough utility-size renewable energy plants to supply those credits. There's nowhere else to put such a project in Delaware, he said.
Stockbridge repeated a common Delmarva argument: that the company could buy onshore power from Pennsylvania at a much lower cost.
But when an audience member asked Stockbridge whether Pennsylvania would be able to supply enough onshore wind power to fulfill Delmarva's state requirement, Stockbridge said he didn't know. Delmarva hasn't posed the question to Pennsylvania onshore wind energy providers, Stockbridge said.
In an interview, Stockbridge said Delmarva officials are meeting with community groups "every couple of days." They met with a group in Seaford on Sunday, he said, and outreach efforts on the wind farm are limited to community meetings like the one on Monday.
"A lot of people want to hear what we have to say," he said.