Evergreen Solar and American Superconductor's Struggles Continue
August 18 2011 - 8:16AM
Marketwired
Renewable Energy stocks have been on the downturn of late as a
sudden decline in oil prices, project delays and budget cuts have
halted growth estimates. With North American and European
alternative energy projects slowing, Chinese exposure has become
critical to the long term growth potential of several renewable
energy companies.The Bedford Report examines the outlook for the
alternative energy sector and provides equity research on American
Superconductor Corporation (NASDAQ: AMSC) and Evergreen Solar, Inc.
(NASDAQ: ESLR). Access to the full company reports can be found at:
www.bedfordreport.com/AMSC
www.bedfordreport.com/ESLR
Despite being one of the world's most prominent polluters,
China's investments into clean technology far surpass the United
States. According to Ernst & Young, China is the most
attractive location to invest in renewable energy projects. The
firm says that the United States slipped to second place last year
-- due in part to China's $11.5 billion in asset-financing for
clean technology in the second quarter of this year -- on the
Renewable Energy Country Attractiveness Indices, which grades
countries on a 100 point scale in national renewable energy
markets, renewable energy infrastructure, and suitability for
individual technology.
The Bedford Report releases stock research on the alternative
energy sector so investors can stay ahead of the crowd and make the
best investment decisions to maximize their returns. Take a few
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Evergreen Solar has struggled immensely of late. The company,
which received millions in grants and tax incentives from the state
before closing one of its Massachusetts facilities, has voluntarily
filed for Chapter 11 bankruptcy relief. In a filing with the U.S.
Securities and Exchange Commission, Evergreen said it has received
notice that Nasdaq staff have decided to suspend the trading of its
stock at the opening of business on Aug. 24. Shares may trade on
the OTC Bulletin Board or the Pink OTC Markets Inc.
Shares of American Superconductor have failed to recovery from
the spring announcement that its largest Chinese customer was not
accepting contracted shipments of wind turbine parts from the
company.
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