Aspire Week in Review – Week Ended January 23, 2009

Jan 25, 2009
Author: Administrator

Obama’s inauguration thisweek signals a change in the level of support that the alternative energy andclean tech sectors will get in Washington, and other world leaders know it.This week at the World Future Energy Summit in Abu Dhabi UN IntergovernmentalPanel on Climate Change chairman Rajendra Pachauri said he expects theU.S.  position on climate change atDecember’s meeting in Copenhagen will be critical and will set the tone. Bushnever took a lead role.

That being said,attention to climate change issues has never been greater on a global scalebecause countries, all facing economic erosion on an unprecedented level, areall moving to a strategy which effectively kills two birds with one stone:infrastructure investment and investment in green technologies as a primarycatalyst for stimulating their own economies. Obama’s $800 billion fiscalstimulus package is no different.

Now that DavidChu is sworn in as Energy Secretary, count on support for alternative energyand clean technology, and very littleempathy to the coal industry.

The UnitedNations said that the upside (if there is any) to the current global crisis isthat world governments are increasing their environmental initiatives includingrenewable energy and energy efficiency. And a Canadian group led by PowerUP is advocating a $41billion “green stimulus” package, not too far behind the $54 billion or sobeing pitched for green stimulus in Obama’s budget.

The EuropeanUnion is reportedly planning to propose a carbon emissions tax on developednations that could cost as much as $200 billion by 2020, where the funds wouldbe used to help developing nations move from fossil fuels-based energy torenewable energy.

Goldman Sachskicked off the week’s trading session commenting that wind and solar projectsare going to have a difficult time getting financing, which will reduce demandand cause delays, resulting in worse corporate performance for companies inthese sectors. Is this new news? Coming to the rescue of more downbeat guidanceand estimates for companies in the alternative energy sector, was a rise in oilprices, which rightly or wrongly has been implicated as one of the causalfactors influencing the outlook for alternative energy.



The financialmedia reported this week that merger and acquisition activity in Brazil’sethanol and sugar mill industry is expected to heat up this year, as mills arefacing an increasingly difficult credit environment.

Plainview’s 110million gallon-per-year ethanol facility is about to shut down temporarily dueto poor ethanol margins.

Australia’sfirst ethanol plant began production this week, using sorghum as feedstock.

In India, Praj Industriesis being joined by BP, Associated British Foods and DuPont to build one ofEurope’s largest bio-ethanol plants.


Carbon Emissions and Clean Tech and Climate Change

A University of Nebraska-Lincolnreport says corn ethanol emits an average of 51% less GHGs than regulargasoline, due to recent improvements in efficiency throughout the productionprocess. One of the researchers, Ken Cassman, said that new, more efficientplants now represent about 60% of the total ethanol production and will accountfor more than 75% by the end of 2009.

EuropeanCommission estimates are that the global cost of addressing climate change willreach €175 billion euros by 2020.

The NationalPork Producers Council is suing the Environmental Production Agency for itsrequirement that livestock farms inform communities about estimated emissions.Under the rule, farms that fail to comply face fines of $25,000 per day.

And the EPAcited BRC Rubber and Plastics for clean-air violations at its automotive partsmanufacturing and coating plant.

British Airwaysannounced plans this week to cut its CO2 emissions in half by 2050 throughinvestments in cleaner aircraft, usage of alternative fuels and more efficientflight routes.

Ontario PowerGeneration unveiled a strategy to reduce CO2 emissions from its coal-firedplants by 27% in 2009, although industry peers say the move is somewhatinsignificant until restrictions are put on U.S. coal-power imports. Part ofOPG’s plan is to take some of its units off the market, using them only if gridreliability is threatened and it will also try and make its coal power lessattractive on the open market, adding $7.50 to every ton of CO2 it produces.


EnergyManagement and Efficiency

Public Service Electric and Gas Company(PSE&G) said it is going to invest $888 million in infrastructure andenergy efficiency to stimulate New Jersey’s economy and create 1,700 jobs. $689million will come under a Capital Infrastructure Investment Program with $406million of that going to electric system capital improvements and $292 milliongoing to gas system investments. $190 million will come under an Economic EnergyEfficiency Stimulus Program.

EnerNOC (Nasdaq:ENOC) said the City of Bostonhas joined its demand response network, and will receive regular payments fromEnerNOC in exchange for reducing non-essential electricity usage during periodsof peak demand.


FiskerAutomotive’s (affiliate of Quantum Fuel Systems Tech (Nasdaq:QTWW)  Fisker Karma S received the “Best RatedElectric Car” by at the auto show in Detroit last week.

We are beginningto see more media coverage on vehicle-to-grid technology, which is a goodthing. The University of Delaware is one of the leaders in pushing V2G, whichenables battery packs in cars to store energy from the grid, and thendistribute it back. Keep your eyes on GridPoint which has received $120 millionin funding last September, and $48.5 million in October, 2007, as an emergingleader in this space.


UltralifeBatteries (Nasdaq:ULBI) issued preliminary Q4 guidance below Streetexpectations. It expects $49 million in revenues in the Q4, an increase of33.2% on a Y/Y basis. Management cited a delay in a spare parts order forcommunications systems, and lower than anticipated orders for automotivetelematics batteries.

EV, Hybrid and PHEVs

More discussionabout the future of the U.S. auto industry will be on display this weekend atthe National Automobile Association Dealers expo in New Orleans, includingthree new vehicles from Zap, featuring its new roadster.

Aptera said itexpects to begin manufacturing its three-wheeled EVs in October this year. Thecost is expected to range between $25,000 to $45,000.

Toyota isreportedly planning to offer its EV in the U.S. by 2012, with a target range of50 miles on a full charge (it will take 2 to 6 hours to charge).

And Shelby SuperCars (SSC) announced plans to produce the Ultimate Aero EV, which will be thefastest EV on the road. The Aero will be driven by SSC’s electric powertrainpackage – the AESP – which can scale from 200bhp to 500bhp, and up to 1200bhp.SSC’s nanotechnology rechargeable lithium battery pack will recharge in 10minutes on a standard 110V outlet and has a 150-200 mile range on a singlecharge.

Apparently Teslais raising the prices on about 400 of its cars it has already sole, by anadditional $5,300 to get the options which were previously included in the baseprice – and the destination charge just bumped up $1,000.

Miljø Innovasjon selected TM4, a subsidiary of Hydro-Quebec, to provideelectric motors, power electronics and vehicle controllers for an electric cardemonstration program to be launched in Norway in 2009-2010. Electrovaya is providingthe Li-ion batteries.


RWE Energy andDaldrup & Söhne AG announced a JV to develop geothermal power plants,contingent to approval from Germany’s antitrust authority. And Central EuropeanGeothermal Energy Ltd. announced it is planning on investing €35 million intodeveloping geothermal projects in Hungary.

Western GeoPowerannounced plans to build a 35MW geothermal plant at the Geysers in SonomaCounty, California. The estimated cost for the project is $165 million.


The EnergyInformation Administration reported this week that hydroelectric generatingcapacity accounted for 6% total net generation in 2007, as compared to 10.2% in1997.

The Corps ofEngineers North Pacific Region awarded a $10.6 million contract to American GovernorCo. to design, manufacture, and deliver replacement digital governors forhydropower plants in the Seattle, Portland, and Walla Walla districts.

Albania'sgovernment approved a deal January 21 with Austrian utility EVN and Norway'sStatkraft to build three hydroelectric plants worth 950 million euros (US$1.37billion) on Albania’s Devoll River

Chilean utility Colbun saysit will proceed with plans to invest US$1 billion in two new hydroelectricplants

Vietnamhydropower builder Cavico Corp. announced its Cavico Hydropower Constructionsubsidiary received a US$9.8 million construction contract for the 37-MW SongGiang 2 hydroelectric project.

Hydrogen Power

BPand Rio Tinto’s JV Hydrogen Energy confirmed this week it is moving forward ona $2 billion hydrogen-fueled power plant in Abu Dhabi which is expected tostart in 2013, generating 420MW of energy.


CrosslinkCapital’s Alain Harrus said this week at IIS ’09 that solar power will dropfrom $2.60?W to $1.44/W by 2013.

Moser Baer saidproduction is underway at its 40MW capacity thin film plant in Greater Noida,India. Also in India, Refex Energy signed an MOU with the government of Gujaratto build a 50MW solar plant in the region, which is expected to cost Rs 1000crore. IBC will be working with Refex in the design and integration. And Spire(Nasdaq:SPIR) has entered into an agreement with Hind High Vacuum (HHV) whichis focused on bringing additional solar manufacturing equipment and servicescapabilities to the Indian PV industry.

ReneSola(NYSE:SOL) announced a one-year wafer supply agreement with BP Solar for 120MWof monocrystalline and multicrystalline wafers in 2009. BP Solar will supply700MT of polysilicon to ReneSola.

Sanyo Electricand Nippon Oil Co. announced a JV, and plans to invest ¥20 billion ($226million) to build an 80MW thin-film solar cell factory in Japan. They expectthe venture to have 1GW of capacity by 2016 and 2GW by 2021.

Suntech(NYSE:STP) said it supplied 5MW of panels for a 10MW solar system in MasdarCity which is being built and designed by Enviromena Power Systems.


EnerRay’s198.85kw PV system installed at Ferrari’s engine mechanical machining facilitywas activated this week. Panels were supplied by Mitsubishi (6503.T) andinverters were supplied by Siemens. 

GT Solar(Nasdaq:SOLR) announced its first major order for its Inspect line of opticalmeasurement systems to be used in Solar PV production, from an unnamedgigawatt-scale factory being built in Southeast Asia by a major Europeansolar-cell manufacturer.

Roth & RauAG said customers are delaying orders and placing fewer ones due to the currenteconomic conditions.

SunPower(Nasdaq:SPWR) and Gundfos Pumps Corporation dedicated a 1.1MW solar system atthe Grundfos facility in Fresno. The system was financed through Morgan Stanleyunder the SunPower Access™ power purchase agreement program whereby Grundfoswill purchase the power directly from Morgan Stanley.


MEMC said onFriday that its Q1 revenue may decline by as much as 50% due to challengingeconomic conditions. Piper’s Jesse Pichel cut non-GAAP Q1 profit estimates to$0.09 from $0.53 and dropped FY09 estimates to $0.97 from $2.83 per share.

Suntech Power(NYSE:STP) raised its revenue outlook for Q4 to a range of $405 to $420 millionfrom previous guidance of $345 to $360 million, and FY08 net revenue isexpected to be in a range of $1.91 to $1.93 billion. PV product shipments forthe year are expected to be in the range of 493MW to 496MW. But a decline insilicon prices will result in an inventory provision of $46 to $58 millionwhich will have a negative impact on gross margin, resulting in a range of 11%to 14% for the year. Q4 GM is expected to be in a range of -1% to 2%. It alsocut 800 jobs in the Q4.

Trina Solar(NYSE:TSL) announced that in the Q4 it achieved estimated solar moduleshipments of between 55MW and 60MW, and it reduced solar module non-siliconmanufacturing costs by about $0.13 pew watt.


The debate overCalifornia’s $1.9 billion desert power line escalated this week as a petitionfiled by the Center for Biological Diversity claimed the California PublicUtilities Commission violated a law by failing to ensure the proposed SunrisePowerlink will be used primarily to carry renewable energy and by failing tore-route to avoid fragile wilderness areas.

And in DesertHot Springs, California opposition mounted against the proposed Green PathNorth transmission lines which would carry geothermal energy from the SaltonSea to Los Angeles and Orange Counties.

GE is reportedlytaking out a Super Bowl ad to tout its smart-grid technologies.

Water & Sustainability

Karachi PortTrust is setting up thee desalination plants at a cost of Rs. 300 million ($3.8million) to meet its water requirements.

Israel issued atender for a 2 billion shekel ($513 million) desalination plant this week,which will produce 150 million cubic meters of water per year.

Science Dailyreported today that Capacitive Deionization could be a feasible technology forlow-cost water desalination as a result of advances in electrochemicalcapacitors. Proingesa, IMDEA Energy and IMDEA Water announced a project todesign a low-cost Capacitive Deionization device based on nanomaterialsdeveloped

 for electrochemical capacitors.


The South DakotaWind Energy Association was formed this week, and the Pennsylvania GamingCommission released its first windenergy annual report. Nebraska’s second-largest electric utility, OmahaPublic Power District has set a target of 10%  of its energy to come from renewable sources by 2020. It isexpected to get most of that from wind.

Dominion (NYSE:D) and BPWind Energy said they are evaluating wind energy projects in Virginia. Thecompanies are partners in 650MW of a 750MW wind farm in Benton County, Indiana,as well.

Southwestern Electric Power Company (SWEPCO)signed a deal with Majestic Wind Power’s 79.5MW facility to buy wind energyover 20 years. SWEPCO’s parent company, American Electric Power has a goal tobuy 1,000MW of renewable energy power by 2011.

Renewable Energy Systems Canada and Ontario Power announced the development andconstruction of the Talbot and Greenwich Wind Farms. Talbot and Greenwich eachwill cost about $250 million and produce 99MW of energy. And commercialoperations began at the 38 turbine, 57MW Stetson Wind facility in New England.

Valero Energy Corporation began Phase 1 operation of the 50MW McKee Wind Farmnear Amarillo, Texas. Phase 1 consists of six GE 1.5MW turbines, and Phase 2will add 27 more of the turbines. That phase is expected to be ready bymid-2009. And Central Plains Power LLC is in the commissioning stages of the99MW Central Plains wind farm in Marienthal, Kansa.

Vestas (VEWI.DE) is planning to invest $350 million in its Tianjin, China-basedsubsidiary (Vesta China) to address the growth opportunity there.

American Superconductor (Nasdaq:AMSC)announced a multi-million order for 100 sets of wind-turbines core electricalcomponents from China’s CSR-ZELRI.

In Canada, Cartier Wind Energy LLC hasstarted commercial operations of the $110 million,  110MW Carleton wind farm in Quebec, Canada.

In Mexico, Cemex inaugurated a $550 million,167 turbine wind project  (EURUSWind Farm)  which Acciona Energy(ANA.MC) reports will generate 250MW of energy. Acciona is also waiting forenvironmental approval for a 103.5MW facility in Chile.

And in Denmark, the Minerals and Energy Minister and Foreign Minister signed a“Declaration of Intent” to develop wind energy in the country. The potentialfor wind energy in the country is estimated to be about 64,000GWh. Denmark’s2013 target is 10,000GWh.


AmericanSuperconductor (Nasdaq:AMSC) warned it will have a larger-than-expected loss inQ3 in a range of $8 to $9 million, or $0.18-$0.21 per share, on revenues in arange of $40 to $41 million. Management cited expected future cost overruns,higher engineering costs, a charge for excess inventory and unfavorable foreignexchange rate. It expects to see revenue in a range of $175 to $185 million inFY2009, with a loss of $17 to $18 million.

Acciona said itexpects its capex in 2009 to reach €1.4 billion.

State and Federal News and Events

Senator Maria Cantwell – This Week on the Senate Floor

“I think there are many thingsagencies should be doing to help our economy. But my point is, in light ofthose obligations on future taxpayers and the amount of money we are spending,spending just $100 billion to make our Nation's energy system cleaner and morediverse and more distributed is a no-brainer.

 In my opinion, stimulus,such as clean energy investment, should get a gold star. If we are looking foravenues to create jobs and secure our future, there is no better stimulus thanclean energy. A recent study from the University of Massachusetts shows that a$100 billion investment in this area would create 2 million jobs in the nexttwo years--2 million jobs. That rate of jobs generated per dollar investment isfar higher than other types of infrastructure investment. That is to say, whenyou are looking at stimulative activity and return on investment, the cleanenergy infrastructure does better than most types of other infrastructureinvestment.”

The U.S. House Ways and MeansCommittee debated and then approved $20 billion in energy tax credits andincentives in Obama’s stimulus plan. One of the benefits wind, biomass,geothermal, hydro, tidal power and landfill gas would see from its passagewould be a three-year extension of its eligibility for the federal renewableenergy tax credit.  The cost to thegovernment would be $13.1 billion over 10 years. There would also be changes toallow financing facilities for projects to temporarily claim a 30% investmenttax credit instead of a production tax credit which is normally paid out over10 years. And the legislation would extend tax credits through 2010 forhomeowners making energy-efficiency improvements (up to 30% of the amount paidand capped at $1,500). In addition, the tax credit would be increased forservice stations installing infrastructure for alternative fuels (up to 30% ofthe cost of pumps with $30,000 cap to 50% of the total costs with a $50,000cap). The maximum amount of the credit for hydrogen refueling pumps would beincreased to $200,000. The legislation would allow states to issue conservationtax credit bonds to finance loans for homeowners, authorize $1.6 billion inrenewable energy bonds to finance renewable energy facilities and provideindividuals with a 30% uncapped tax credit for investing in solar water heatingproperty, small wind energy property and geothermal heat pumps.

In Alaska, Sarah Palin pushed her new state energy development plansetting a long-range goal of generating 50% of Alaska’s electricity withrenewable resources by 2025. She recently listed 79 renewable energy projectsthat she is recommending for the state Legislature’s approval.

Maryland’s Governor O’Malley said he is pushing for a state climatechange bill that commits it to reducing greenhouse gases by 25% by 2020.

Michigan’s State Housing Development Authority announced this week thatit is making low-cost home loans of up to $50,000 for alternative energyefficiency improvements to income eligible home owners. And its congressionaldelegation asked Obama to support an additional $25 billion in federal loans tohelp its auto industry make more efficient cars.

Introduced Legislation

Senator RobertMenendez introduced  S. 284. A bill to amend the Internal Revenue Code of1986 to allow a new refundable credit for equipment used to manufacture solarenergy property, to waive the application of the subsidized financing rules tosuch property, and for other purposes; to the Committee on Finance.

Senator Ben Nelson introduced S. 306. A billto promote biogas production, and for other purposes; to the Committee onFinance.

Boone Watch

At this week’s Clean Tech Investor Summit, T. BoonePickens reiterated his recommendations that the U.S. needs to fund a program tofinance large-scale wind projects. He also suggested that the government invest$28 billion into purchasing 350,000 heavy trucks that run on natural gas. Picken’swind plan would require $70 billion in investment into transmission andpower-grid infrastructure.

Upgrades & Downgrades

Merriman Curhan Ford’s Craig Irwin launchedcoverage on the solar sector, initiating First Solar (Nasdaq:FSLR) at a BUYrating, Evergreen Solar (Nasdaq:ESLR) and SunPower (Nasdaq:SPRWA) with NEUTRALratings and Suntech (NYSE:STP) with a SELL rating (see below).

January 20 – MEMC (NYSE:WFR) downgraded toNEUTRAL from BUY at UBS, lowering its price target to $14.50. Profit estimatesfor 2009 and 2010 were reduced to $1.45 and $1.65 per share, respectively. UBShad previously rated WFR at BUY with a $20 price target (12/18/08),  and a $60 price target (7/24/08).

January 20 – Suntech (NYSE:STP) rated REDUCEat Ardour Capital from ACCUMULATE. Ardour had previously rated Suntech at BUYwith a price target of $8 (11/21/08) and a $65 price target (2/22/08).

January 20 – REpower (RPWGn.DE) upgraded toBUY at Goldman Sachs from neutral.

January 20 – Manz Automation (M52G.DE)upgraded to BUY at Goldman Sachs from neutral.

January 20 – PV Crystalox (PVCS.L) upgradedto BUY at Goldman Sachs from neutral.

January 20 – Solarworld AG (SWVG.DE) upgradedto BUY at Goldman Sachs from neutral.

January 20 – Aleo Solar (AS1Gn.DE) wasremoved from CONVICTION SELL list at Goldman Sachs.

January 20 – Q-Cells (QCEG.DE) cut to SELLfrom BUY at Goldman Sachs, and added to CONVICTION SELL.

January 20 – Centrotherm (CTNG.DE) cut toSELL from NEUTRAL at Goldman Sachs.

January 20 – Meyer Berger (MBN.S) cut toNEUTRAL from BUY at Goldman Sachs.

January 20 – Solar Fabrik (SFXG.DE) cut toNeutral from Buy at Goldman Sachs.

January 20 – Solarworld (SWVG.DE) raised toBUY from Neutral at Goldman Sachs.  

January 21 – First Solar (Nasdaq:FSLR) ratedBUY at Merriman Curhan Ford with a price target in the $190-$210 range.Expectations for EPS are $9.39 this year and $10.48 next year.

January 21 – Evergreen Solar (Nasdaq:ESLR)rated NEUTRAL at Merriman Curhan Ford.

January 21 – SunPower (Nasdaq:SPWRA) ratedNEUTRAL at Merriman Curhan Ford.

January 21 – Suntech (NYSE:STP) rated SELL atMerriman Curhan Ford with a price target of $3.50 to $4.50.

January 21 – MEMC (NYSE:WFR) rated HOLD atCitigroup with a lowered price target of $15 from $30. Citigroup had previouslyrated WFR at BUY with a price target of $65 (7/24/08). 2009 EPS estimates weredropped to $1.16 and to $2.14 for 2010.

January 21 – American Superconductor(Nasdaq:AMSC) rated HOLD at Jesup & Lamont.

January 22 – MEMC (NYSE:WFR) rated BUY atKaufman, though cutting price target to $24 from $35. Q1 revenue estimates werecut to $319 million and EPS was cut to $0.38 per share. FY09 revenue estimatesare $1.56 billion and EPS estimates are $2. Kaufman had previously rated MEMCat BUY with a $52 price target (10/24/08), a $70 price target (10/22/08) and an$80 price target (5/28/08).

January 22 – MEMC (NYSE:WFR) rated ACCUMULATEat Ardour Capital with a price target of $14.50. Ardour previously had a BUYrating and $21 price target (1/8/09) and a $28 price target (11/12/08).

Finance & M&A

Green Plains (Nasdaq:GPRE) acquired a 51%interest in biofuel terminal operator Blendstar LLC for $9 million.

Quebec’s Agricultural Bioproducts InnovationProgram (ABIP) is providing $19.9 million in funding to the Cellulosic BiofuelsNetwork to develop new technologies and process for cellulosic ethanol.

Range Fuels said it secured $80 million inloan guarantees to complete its cellulosic ethanol plant in Georgia, from theU.S.D.A. The loan guarantee falls under the Biorefinery Assistance Programauthorized by the 2008 Farm Bill.

Verenium (Nasdaq:VRNM) received a $7 milliongrant under Florida’s Department of Agriculture and Consumer Services’ Farm toFuel program.

TPI Composites Inc., a provider of windturbine blades to Mitsubishi Power Systems and General Electric, raised $20million in Series B funding. Backers include GE, Landmark Growth CapitalPartners, NGP Energy Technology Partners and Angeleno Group.

Ben Franklin Technology partners is givingout $55,000 grants to help companies commercialize alternative energy and cleanenergy technologies.

PG&E said this week it is going to investdirectly into solar power plants and panels distributed throughout California.In terms of the amount, CEO Peter Darbee said it would be comparable in size toSouthern California’s program to spend $850 million over five years to putsolar panels on commercial rooftops.

EMCORE (Nasdaq:EMKR) completed the secondclosing of a two-step sale of remaining assets in Entech Solar (formerlyWorldWater & Solar – WWAT.OB) for $5.9 million to the Quercus Trust.

Abu Dhabi’s Mubadala Development Company isreportedly interested in taking a stake in Enel’s renewable energy unit (EnelGreen Power). Enel has previously said it is interested in selling 20% to 30%of its stake in EGP for about €2.8 billion euros (3.63 billion).

Agni Inc. acquired GenCell Corporation, aMolten Carbonate Fuel Cell developer and manufacturer for an undisclosedamount. AGNI recently reported its conditional sale and purchase agreement fora reverse merger of Netelusion Ltd., a public company traded on the Singaporeexchange, for $236 million.

SunEdison has purchased Business InstituteSolar Strategy GmbH, which includes 38MW of PV projects under development inItaly and opens up an opportunity for another 300MW of development in Europe.

Research & Reports

Windat Work

Wind energy has come of age and more and more Europeansare attracted by the jobs created in the industry. Over the past five years,the EU wind energy industry has created more than 60,000 new jobs -an average of 33 new employees every day, seven days a week. Thisreport aims to shed light on wind energy’s benefits in terms of employmentby looking into the tremendous evolution the sector has experienced in terms ofjob creation, offering an in-depth analysis of the current situation andinvestigating the industry’s current shortage of human resources and prospectsup to 2030. (European Wind Energy Association).

Assessmentof Achievable Potential from Energy Efficiency and Demand Response Programs inthe U.S. (2010 - 2030)

Energyefficiency programs in the U.S. could realistically reduce the rate of growthfor electricity consumption by 22% over the next two decades, with potentialenergy savings in 2030 of 236 billion kilowatt hours, according to a reportreleased by EPRI titled, "Assessment of Achievable Savings Potential FromEnergy Efficiency and Demand Response in the U.S." (Electric PowerResearch Institute)




Renewable Energy Events

Abu Dhabi hosted its second World FutureEnergy Summit this week, and pledged 7% of the city’s energy would come fromrenewable energy sources by 2020, up from zero at present.

Upcoming Events

Aspire Clean Tech Stock Indices Component Performance for the Week Ended July 23, 2009



MEMC (NYSE:WFR) sold off on Tuesday onworsening expectations for semi revenues this year. And it took more pressureon Thursday as Kaufman’s analyst Theodore O’Neill questioned whether certain customerswill fulfill on take-or-pay poly contracts amidst declining spot prices andoversupply issues. These concerns probably aren’t isolated to MEMC, and arebeing factored into the sector’s financial outlook. In any case, MEMC cut itsoutlook this morning.

Energy Conversion Devices issueda release on Senior Advisor Nancy Bacon’s testimony yesterday before theU.S. House Committee on Transportation and Infrastructure urging more supportfor rooftop PV initiatives.



About Aspire Clean Tech Communications, Inc.

Based in San Diego,Aspire Clean Tech Communications is dedicated to providing strategic consultingand communications services to businesses operating in the alternative energyand clean tech industries. Our commentary and outlook on the public markets andthe alternative energy can be found on a daily basis at

For moreinformation about Aspire Clean Tech Communications, Inc., contact Todd M.Pitcher at 858-518-1387.

This Aspire Weekin Review was sponsored by ComancheClean Energy, Inc., a leading Brazilian ethanol and biofuel firm bringingthe lowest cost and most efficient alternative energy solutions to the world,and Hayden Communications, Inc., Wall Street’s leading corporate communicationsfirm. For more information about Hayden Communications, call 646-536-7331, formore information about Comanche Clean Energy, or Power Efficiency; contact ToddM. Pitcher at 760-798-4938.

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