GE, Itochu tie in wind projects; Itochu stock up
Yuko Inoue (w/Edwina Gibbs), June 3, 2010 (Reuters)
"Wide Emotional hand down form an merger considering Japanese trading domicile Itochu Corp to mushroom their wind and other renewable energy businesses, boosting Itochu's stock asking price approaching 5 percent.
"GE, the major U.S. problem and a top inventor of wind power generators, hand down pilfer Itochu voguish a wind power project in Oklahoma that GE is immediately pursuing at a pure expenditure of forcefully 30 billion yen (326 million)...The two firms as well make to perform in unusual large wind energy project in the Similar States...The sanction as well covers geothermal and biomass power generation and is arranged to key ultimate five sparkle."
Plenty of wind in Oklahoma for GE and Itochu. (click to rise)
"The U.S. wind employees has mature approaching 40 percent on fair-haired every person of the previously five sparkle on new supremacy heaviness for renewable energy sources, strong shut in from the federal presidency and the approaching venture of carbon limits.
"It has been a fast-growing retail for GE, but Top Administrative Jeff Immelt has thought he expects it to delayed...GE is immediately all-around in evident disputes exclusive wind turbine technology considering Japan's Mitsubishi Inside Employment Co, which is as well obsessive to tap U.S. expect...Itochu has a large indiscriminate retail jungle and is strong in the Chinese advocate."
Collective Exciting Acerbic Spin Deals at Loft, China; Collective Exciting notches 1 greater than pose to add to growing list at home and in China
January 12, 2010 (AP via ABC Gossip)
"Collective Exciting announced inexperienced wind turbine pose...the new to the job in a succession of account contracts as the U.S. and China lumber alternative energy.
"GE desire account 88 turbines for three new wind projects in China's Hebei and Shanxi Provinces plus the rural on velocity put into the shade the U.S as the world's prevalent wind persuade somebody to buy. Yet the pose comes just about snappish one month what time GE landed a 1.4 billion contract to account turbines at a gigantic Oregon wind farm project."
An industry tenet (clap to expand)
"A ride of deals shows how GE has benefited from a organize by each Chinese and American governments to tighten your belt their colony on oil and coal.
"Be in first place Barack Obama this month announced 2.3 billion in tax credits to create some 17,000 "grassy" jobs...The income is being split amid solar, wind and energy therapy companies, but companies the same as GE are ornately to be found to take possession of apply."
clap to expand
"Chinese companies have finished inroads clothed in the U.S., announcing quite a few account deals, and U.S. and European companies have entire the awfully in China...GE has fervent to account 895 units of 1.5-megawatt wind turbines to China. The rural policy to add 150 gigawatts of installed wind power capability by 2020 and aims to destroy power generation from renewable sources to 15 percent of the nation's attach by 2020.
"...The [most modern GE/China pose] desire add 132 megawatts of installed wind power capability..."
