Wednesday 4th February 2015


February 4, 2015

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Obama proposes permanent wind PTC

US president Barack Obama has set out a plan to permanently reinstate the wind production tax credit in his budget for 2016.

Obama published his budget request for the 2016 financial year on Monday, including his plan to permanently bring back the wind PTC that expired in December. He is also proposing $7.4bn spending on
renewable energy projects, which is an increase on the $6.9bn he proposed for 2015 and the $6.5bn enacted by Congress in 2014.

However, his renewable energy proposals are likely to face major opposition in Congress, which is controlled by the Republican Party.

Sinovel forecasts return to profit

Sinovel has forecast it would make a €2.7m profit in 2014 that would stop it being de-listed from the Shanghai Stock Exchange.

The Chinese manufacturer made the profit forecast to the stock exchange based on its preliminary figures, which are yet to be audited. The firm is set to appoint an auditor in its shareholders’ meeting on 12 February; and publish its results for 2014 in April. The firm was forecasting a loss for 2014 as recently as October.

The company has been at threat of being de-listed from the stock exchange after making losses in 2012 and 2013. It said stricter cost control, increasing margins, and transferring part of its debts had helped it to improve its financial performance.

DECC survey undermines Cameron claim

UK prime minister David Cameron’s claim that UK public is “fed up” with wind farms has been undermined by a new government report.

The Department of Energy & Climate Change yesterday published its quarterly review of public attitudes to the energy sector. The report showed that only 10% of people oppose onshore wind farms in the UK while 68% of people are in favour; and only 7% of people oppose offshore wind farms in UK waters while 74% are in favour.

In December, Cameron said the Conservative Party would cut subsidies for the onshore wind sector if his party won the general election this May. He told the Commons Liaison Committee on 16 December that “enough is enough” for the onshore wind sector.

Principle Power announces MI&T merger

US floating turbine tech developer Principle Power has merged with offshore engineering consultancy Marine Innovation & Technology.

The firms have worked together to develop Principle’s WindFloat technology, which is a floating support structure for offshore wind turbines that is being piloted in Portugal. The deal enables Principle to bring key staff and intellectual property together in one business.

Last week, A Word About Wind broke the news that Alla Weinstein, president and chief executive at Principle Power, was set to leave the company that she co-founded in 2008. She is set to be replaced by chief operating officer and chief financial officer Joao Metelo.

Alstom and Andrade open Brazil factory

France’s Alstom and Brazil’s Andrade Gutierrez have opened their joint turbine tower production facility in Brazil.

The Torres Eolicas do Nordeste joint venture, which is 51% owned by Andrade and 49% by Alstom, has opened in the city of Jacobina in Bahia region. The facility has capacity to produce 200 turbine towers a year for use in Argentina, Brazil, Chile and Uruguay.

Plans for the joint venture were announced in August. This is Alstom’s third wind facility in Brazil; while Andrade Gutierrez is one of South America’s biggest infrastructure groups.

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