A few alternative energy sites that are a cut above

The world will see many clean power websites in the months and years to come, but three that already get great marks for quality and consistency are SolarBuzz.com , RenewableEnergyWeekly.com and RenewableEnergyFocus.com .

Peace to all.

Dull-surface photovoltaic cells reflect less energy, capture more

OULU, Finland (Business Wire EON) October 10, 2007 -- The basic building block of solar cells, silicon, is very shiny and reflects about 30% of sunlight back into the sky. Solar companies trap this light by putting down very thin anti-reflective coatings to reduce the reflected light. To help trap as much photo energy and convert it into as much electricity as possible, the silicon must be either of very high purity or have very few defects. Over the years, this has been accomplished by introducing hydrogen into the manufacturing process. Until now, the anti-reflective and hydrogenation for advanced cells has been done with a Chemical Vapor Deposition (CVD) process.

Low Cost Anti-reflective and Hydrogenation Techniques

"These optical and electrical layers were previously integrated into components through expensive and high maintenance CVD tools," commented Dr. Yrjo Ojasaar, Braggone CEO. "Braggone can now introduce the same anti-reflective and hydrogenation techniques with a very simple and cost efficient spray coat, bake and repeat process. We are tuning the optics of the cell by introducing nanometer thick layers of our molecularly tailored materials. Now, for the first time, solar cell makers can have truly affordable passivation and anti-reflective solutions available and thus create a boost for their Mega Watt (MW) production capacities."

This Braggone process is a very low cost barrier to entry for newly constructed solar cell factories, whereas existing lines that already include CVD tools can increase their capacity with low capital investment costs. For older factories that do not use anti-reflectives, they can simply increase the efficiency of their output cells and modules by introducing this process at very low investment costs. This unique product is spray coated onto the solar cell, or glass, then cured at an elevated temperature. The innovative new product line is not only a breakthrough for crystalline silicon makers, but can also be used in thin film photovoltaics as well as in solar module manufacturing to further improve their power output.

Minimizing the Optical Loss

"Essentially, we are minimizing the optical loss in solar cells and modules," commented Dr. Paul Williams, vice president of business development at Braggone. "We are capturing as much light as possible in the cells by taming the physics. With the new materials from Braggone not only do we have the capability to reduce the optical loss in the cell or module, but we can also improve the efficiency of electrical conversion within the cell. This has the real benefit to our technology users of driving down their production cost per MW output."

Editor's Background Information: The company's material technology allows a flexible modification of the inorganic-organic polymer material properties to suit specific applications. These flexible yet stable materials coat or print onto substrates at greater efficiency, lower temperatures and higher yields. The company's current materials products are applied in digital displays used in mobile phones and televisions, advanced semiconductors digital cameras, photovoltaic panels, and memory for PCs and MP3 devices.

About Braggone Ltd

With offices located in Oulu, Finland, London, UK, and Hong Kong, SAR China, Braggone is an innovative technology company focused on the manufacturing of advanced optoelectronic and information electronic materials and components. Braggone's portfolio of materials and processes are utilized to improve performance and facilitate production for various component and system structures. Through fundamental materials development and advanced process applications, Braggone works closely with its clients to increase their products' performance in flat panel displays, semiconductors, LEDs and solar cells. Additional information can be found at www.braggone.com.

Basics of Alternative Energy Investing

article from: http://www.altenergystocks.com/archives/2007/10/investing_in_renewable_energy_101.html

Investing In Renewable Energy 101

Why Invest in Renewable Energy?

Given all the attention that renewable energy is getting in the news over the last couple years, investing in renewable energy has become a hot topic. People are drawn to renewable energy for one of several reasons:

1. To fight Global Warming
2. To prepare for Peak Oil.
3. To improve Energy Security and local economies.
4. To cash in on the above trends.

The beauty of investing in renewable energy companies is that these goals are not mutually exclusive. With one investment, the investor can feel good about what his money is doing for three reasons, while putting his money in what is proving to be a spectacular growth story.

How To Invest

For mutual fund investors, Renewable Energy focused mutual funds have been few and far between, but the recent growth of interest in the sector has lead to a plethora of new offerings. US investors can choose from load funds such as the New Alternatives Fund (NALFX) and Calvert Global Alternative Energy Fund (CGAEX) and the no-load Guinness Atkinson Alternative Energy Fund (GAAEX). Unfortunately, the load funds have expense ratios in excess of 1.25%, and the Guinness Atkinson fund's ratio is 1.98%. Given these high expenses, I strongly prefer the industry ETFs.

The Powershares Wilderhill Clean Energy ETF (PBW) and NASDAQ Clean Edge U.S. Liquid Series ETF (QCLN) have expense ratios currently capped at 0.60%, high compared to a general energy sector ETF such as XLE (0.24%), but is a much more economical way to invest than the sector mutual funds. Unfortunately, both of these ETFs track US-based indices, and so provide little international diversification. The new Market Vectors Global Alternative Energy ETF (GEX), neatly solves this problem with a portfolio similar to the more diverse mutual funds, and an expense ratio of only 0.5%, which easily makes it my favorite fund in the space. Also recently launched, the Powershares Global Clean Energy Portfolio (PBD) has broader diversification into a greater number of small cap companies, but given its expense ratio of 0.75%, an investor with over $5,000 to put into the sector could closely replicate PBD by splitting his allocation 50-50 between GEX and PBW or QCLN.

Given the relatively high expenses of the sector ETFs, I believe it makes sense for investors who are looking to invest $25,000 or more in the sector for a period of years to build their own ETF from individual stocks gleaned from the holdings of the above ETFs and mutual funds. This also opens the possibility of focusing on established companies which are early movers into the renewable energy arena, a strategy which is less likely to lead to spectacular gains, but which also gives some protection against spectacular dot-com bust style losses. Investors seeking a greater international exposure could mix GEX with a smaller portfolio of domestic companies.

Picking Individual Stocks

Given the complex nature of the technologies, and the sparse coverage of many of the companies by industry analysts, there is still considerable room for active management in the sector. Many investors buy Renewable Energy stocks for emotional reasons, so an understanding of practical behavioral finance may lead to excellent buying opportunities in quality companies.

Many development stage renewable energy companies have declined considerably in the recent market correction triggered by the fallout from the US subprime mortgage market. If market uncertainty continues, investors who bought these companies in response to excitement about their growth prospects will likely lose their nerve. An understanding of the business models and technologies in the industry should provide the knowledgeable investor with the tool to differentiate the undervalued quality companies from the cheap trinkets that have been finally recognized for what they are.

EDITORIAL NOTE: Currencies

This article was first published in UK-based The Price Report, issue 13, published by Tim Price, Chief Investment Officer for Global Strategies at UBP in London. He added his own editorial note:

The one caveat to the renewable energy company, fund and ETF story is that these investments are invariably denominated in US dollars. As a longer term dollar bear, I believe it makes sense to hedge this currency risk where possible. It is an inevitable by-product of commodity investing in that pretty much all commodities are denominated in dollars. Sterling-based investors who share my currency views would be advised to mitigate this dollar risk, either by limiting their overall portfolio exposure to dollar assets, by hedging their foreign currency risk through sales of currency forward contracts where achievable, or by finding a local currency version of these funds – again where possible.

I agree with Mr. Price that the dollar will continue to be a weak currency for the near future, which is one of the reasons I prefer GEX to PBW and QCLN, because it contains fewer US-based companies. However, it is important to note that the currency risk involved in buying a stock has very little to do with the currency in which it is traded, but rather with the currencies in which it does business. A company's earnings (and hence its long term stock price) will correlate with its profits, and so a company's share price should only suffer from a declining dollar if it has more dollar based revenues than dollar based expenses. A company with dollar based expenses and revenues mostly in foreign currency (e.g. a US-based exporter) should actually benefit from a declining dollar.

For this reason, people seeking to reduce dollar exposure should look for a portfolio of global businesses; the country of listing is much less important than the nature of the businesses.

I also disagree that commodity business inevitably have dollar based commodity risk. Globally traded commodities have long been an excellent hedge against currency risk, because, unlike currencies, they represent something of intrinsic value, and hence are usually the best hedge against all currencies. A glance at the above chart comparing the PowerShares DB US Dollar Index Bullish (UUP) to the Dow Jones AIG Commodity index (^DJC) shows how this index has been an excellent hedge against the US dollar.

DISCLOSURE: Tom Konrad and/or his clients do not have positions in any securities mentioned, but GAAEX is an advertiser on AltEnergyStocks.

DISCLAIMER: The information and trades provided here are for informational purposes only and are not a solicitation to buy or sell any of these securities. Investing involves substantial risk and you should evaluate your own risk levels before you make any investment. Past results are not an indication of future performance.

Denmark's Vestas Wind Systems (VWS.CO) a blue chip alternative energy stock

Vestas on crest of alternative energy wave

by RICHARD BLACKWELL

article from: http://www.theglobeandmail.com/servlet/story/LAC.20071025.REDGE25/TPStory/Business


October 25, 2007

Canadian investors looking for exposure to the booming alternative energy sector have a handful of domestic players to choose from, but the local pickings are pretty slim and most of the companies are small.

So why not look overseas, to one of the green behemoths that has sprung up on the international scene?

Danish turbine maker Vestas Wind Systems AS is among the biggest companies in the worldwide wind energy business and its stock has been white hot lately.
The company controls close to 30 per cent of the worldwide market for wind turbines and generates more than $5-billion in revenue each year. It has manufacturing operations in a dozen countries. And it is growing quickly thanks to the growing interest in - and government support of - alternative energy sources.

The global wind business is expected to grow by an average of 19 per cent a year over the next half-decade, according to forecasts from the Global Wind Energy Council. The fast-growing U.S. wind power industry, driven by favourable government tax policy, is Vestas' largest current market. But it also has a huge presence in the wind-intense Danish and German energy markets, and a strong foothold in energy-hungry China.

In Canada, Vestas is the biggest turbine seller, with an installed base of about 700 units that generate half of all the wind power in this country. Vestas shares, which trade on the Copenhagen stock exchange, more than quadrupled in price over the past 20 months, as the company cemented its No. 1 spot in the industry.

"They're in a very strong position because they have a large backlog of orders," said Philippe de Weck, a senior fund manager at Pictet Asset Management SA, a Swiss company that manages the Criterion Global Clean Energy Fund for Toronto's VenGrowth Asset Management Inc.
Vestas is the largest holding in the Criterion fund, making up about 5 per cent of its value.
Vestas' margins have risen because the worldwide shortage of wind turbines has given manufacturers the power to control prices, Mr. de Weck said. And those margins will likely continue to move up next year, so there is room for more growth in the stock price, he said.
Vestas is also the biggest single stock in the Templeton International Stock Fund run by Don Reed, chief executive officer of Franklin Templeton Investments Corp.

"Vestas is in the right spot right now, especially as we see the price of oil rising," Mr. Reed said.
He also likes Vestas because it is a rare pure play in the wind business - many of the other big turbine makers, such as General Electric and Siemens AG, are diversified conglomerates. It's also big enough to form a substantial part of an investment portfolio.
But the stock has appreciated so much that Mr. Reid is considering whether to trim back his position and take some profits. "We're watching very closely. It's certainly a heck of a lot more expensive today than it was when we bought it."

Some analysts are also urging caution over Vestas' high price.

"We find the shares are fundamentally overvalued," said analyst Christian Nagstrup of Jyske Bank, a Danish financial institution.

Mr. Nagstrup recently downgraded the stock to "accumulate" from "buy," mainly because of recent sharp increases in the share price.

Still, he thinks the stock can show some modest gains from current levels, because of the strong orders it is getting from the United States and China.

The biggest risk he sees at Vestas is a bottleneck in getting parts to build the turbines. Subcontractors have been slow in delivering key components, and that could slow delivery of complete turbines, Mr. Nagstrup said in a recent report.

*****

QUICK FACTS

Vestas was founded in the late 19th century by a Danish blacksmith. In its first 80 years it made products ranging from window frames to appliances to agricultural equipment.
It began to make wind turbines in the late 1970s, starting with the old egg-beater style, then shifting to a more efficient three-blade model, similar to what is seen around the world today. After 1987, it concentrates solely on wind energy.

As of mid-2007, the company had installed 33,700 turbines in 64 countries. Its biggest individual market is the United States, where it has 9,000 turbines in place. Revenue in Vestas' second quarter was about $1.3-billion, and pretax profit about $120-million.

Vestas trades at a price-to-earnings multiple of 64 times trailing earnings and 36 times estimated earnings. It also trades at 8.8 times price-to-book value and 2.7 times price to sales.

Richard Blackwell

*****

Investing in Europe

Most Canadian investors interested in a European investment such as Vestas Wind Systems try to get exposure through mutual funds that hold a big chunk of the stock.

But there's no reason sophisticated investors can't buy individual shares, said Lex Kerkovius, an analyst with Calgary-based McLean & Partners Wealth Management.

While Vestas stock is listed only on the Copenhagen Stock Exchange, buying shares "can be easily accomplished," he said. "Just call your broker and they can execute the trade."

It's a little more complex to perform due diligence on a Danish company than on a domestic one, Mr. Kerkovius said, but investors can now get comprehensive details about any company through the Internet.

Still, potential buyers should be careful about financial reporting in other countries, which may follow different rules than in Canada, he said. And there are also some cultural and regulatory differences in European countries.

But over all, "Canadians would be well advised to look further afield," to find potential investments, he said, especially when many sectors of the domestic market - such as alternative energy - are limited to micro-cap or small-cap stocks.

Aside from Vestas, other large wind power equipment companies that can be purchased on international exchanges include Spain's Gamesa Corp. and India's Suzlong Energy Ltd.
"You have to do your homework, but it's not overly difficult to go overseas," Mr. Kerkovius said.

China's Suntech Power Holdings (NYSE: STP) has stellar week!

article excerpted from:

Chinese solar chip maker Suntech Power Holdings, for example, has been a longtime favorite in our community, with over 1,700 players giving the stock an outperform rating. Of course, as a formal pick of our Motley Fool Rule Breakers growth stock service, that number might be Foolishly skewed. Still, I'd say the stock's 104% return over the last year speaks for itself.
This outperform pitch -- written by CodeCracker back in January -- shines some sun onto our community's thought process:

STP is a Chinese solar chip company that is growing like a weed (sales are up over 100% per year for the last couple of years). What's even better, they're making money, making deals to improve their supply, and the renewable energy market is increasingly attractive to "green" homeowners, utilities, and governments around the world. The company is expected to earn $1.18 in '07 and is projected to grow about 56% a year, so this $35 stock could close to double in the next year or so. I bought some in the 25 to 28 range and recommend purchase on dips.
Suntech is 54% higher since that call was made, and up 86% since it was handpicked by the Rule Breakers team back in 2006. In fact, yesterday's pop came after the company announced yet another major supply deal -- this time, a seven-year, fixed-price contract to buy $1.5 billion worth of polysilicon from Asia Silicon.

The bullish takeaway? Pay attention to companies that aggressively take steps to reduce their cost structure -- especially in an industry like solar energy. Because of the high prices of raw materials, many emerging technologies are simply too costly to bring into the mainstream. In the case of Suntech, though, its consistent profitability clearly indicates that it has some of the most attractive fixed-price contracts -- and therefore, one of the lowest cost structures -- in the industry.

Taiwan's Gintech places 10-yr, $700 mil order with MEMC

MEMC and Gintech Announce $700 Million+ Solar Wafer Supply Amendment

article from: http://money.cnn.com/news/newsfeeds/articles/prnewswire/NYTH14725102007-1.htm

ST. PETERS, Mo., Oct. 25 /PRNewswire-FirstCall/ -- MEMC Electronic Materials, Inc. announced today that MEMC and Gintech Energy Corporation of Taiwan have executed an amendment to their existing definitive agreement for MEMC to supply solar grade silicon wafers to Gintech.

Under the terms of the amendment, MEMC will supply additional solar wafers to Gintech over the 10-year contract period, with incremental pre-determined pricing, on a take or pay basis beginning in 2008. Sales of the additional wafers over the 10-year period would generate approximately $700-$800 million in incremental revenue for MEMC. As part of the amendment, Gintech will advance additional funds to MEMC in the form of a capacity reservation deposit. In total, the amended agreement is now worth between $3-$4 billion in revenue to MEMC through 2017.

"Gintech is a fast growing and well positioned player in the solar industry," commented Nabeel Gareeb, MEMC's Chief Executive Officer, "and we are pleased to provide them with additional solar grade wafers to help enable them to meet the growing demand for photovoltaic energy worldwide. With partners like Gintech, and a keen focus on our core competency of making wafers, MEMC continues to strengthen its position in the solar marketplace."

Commenting on the signing of the wafer supply agreement, Gintech's President Ellick Liao said, "Gintech continues to grow its capacity, and aims to play a major role in serving the globe with sustainable and clean energy. MEMC wafers are a critical ingredient for success in that process, and we are pleased to expand our relationship with MEMC."

About Gintech Energy Corporation

Gintech is a solar cell manufacturer based in Taiwan. Gintech's state-of- the-art equipment, facilities and cost-effective production line focus only on solar cell manufacturing. Gintech was founded in 2005 and is supported by several top executives from the petroleum, petrochemical, semiconductor and electronics industries in Taiwan with insight into the global trends of renewable energy.

About MEMC

MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC has been a pioneer in the design and development of wafer technologies over the past four decades. With R&D and manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of high performance semiconductor devices and solar cells. MEMC's common stock is listed on the New York Stock Exchange under the ticker 'WFR' and is included in the S&P 500 Index.
Safe Harbor Statement

Certain matters discussed in this news release are forward-looking statements, including MEMC's expectation that the amendment to the definitive agreement will generate approximately $700-$800 million in incremental revenue for MEMC and that the amended definitive agreement will now be worth between $3-$4 billion in revenue for MEMC through 2017. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including the success of MEMC and Gintech in performing under the definitive agreement and the ability of MEMC to ramp up production of solar wafers to satisfy the terms of the amended definitive agreement. These forward-looking statements represent MEMC's judgment as of the date of this release. MEMC disclaims, however, any intent or obligation to update these forward-looking statements.

ESLR a fast-rising solar power stock

Evergreen Solar stock is surging

article from: http://www.telegram.com/article/20071027/NEWS/710270363/1002/BUSINESS

By Christopher Martin BLOOMBERG NEWS

MARLBORO— Evergreen Solar Inc. surged the most in more than two years on a narrower third-quarter loss and a plan to sell shares in EverQ, a joint venture with Germany’s Q-Cells AG and Norway’s Renewable Energy Corp AG. Evergreen, based in Marlboro, rose $1.47, or 16 percent, to $10.70 on the Nasdaq stock market. The stock, which has risen 41 percent this year, had its biggest gain since Nov. 5, 2005. The third-quarter loss was $3.7 million, or 4 cents a share, compared with $5.6 million, or 8 cents, a year earlier, Evergreen said in a statement yesterday. A 6-cent loss was expected by 12 analysts surveyed by Bloomberg.

“Evergreen has been on the back burner for some time because of the lack of profitability,” said Sanjay Shrestha, an analyst at Lazard Capital Markets in New York who has a “buy” rating on the shares. “Now with the EverQ IPO and the groundbreaking of their new plant, there’s a much more transparent path to making money.” EverQ will open its third solar-panel factory in Thalheim, Germany, in early 2009, Evergreen said in the statement. The stock climbed 4.2 percent to 260 kroner. Q-Cells fell 28 cents to $82.08 euros.