Thu, Jun

Top Stories

Grid List

GE welcomes the confirmation of the three Eolien Maritime Français offshore windfarms paving the way for a buoyant offshore wind industry, which carries considerable potential for economic growth, job creation and high-tech innovation in France. These three offshore windfarms, located in Fécamp, Courseulles et Saint-Nazaire will lead to new job creation in France required to build and deliver GE’s Haliade 150-6MW wind turbines.

GE, which in March announced the development of the Haliade-X, the world’s biggest and most powerful wind turbine. The development will take place across GE Renewable Energy’s site in Nantes, Saint-Nazaire and Cherbourg and will continue to play an active role in shaping and growing a world class French offshore wind industry.


GE accueille avec satisfaction la confirmation des 3 parcs éoliens en mer du consortium Eolien Maritime Français qui favorise les conditions de développement de la filière éolienne en mer, porteuse d'opportunités de croissance économique, de création d'emplois et d'innovation technologique considérables en France. Les trois parcs éoliens en mer de Fécamp, Courseulles et Saint-Nazaire permettront la création sur le territoire des emplois nécessaires à la production des éoliennes GE Haliade 150-6MW.

GE, qui a notamment annoncé en mars le développement, depuis la France avec ses sites de Nantes, Saint-Nazaire et Cherbourg, de la plus puissante éolienne au monde, l'Haliade-X, continuera à prendre toute sa part dans la structuration d'une filière industrielle d'excellence française dans l'éolien en mer.

WASHINGTON--(BUSINESS WIRE)--A decade since the start of a shale gas revolution that unlocked new supplies and resulted in a “wholesale turnaround” in U.S. production, the overall size of recoverable gas reserves continues to increase and the pace of production growth is only accelerating, a new report by business information provider IHS Markit (Nasdaq: INFO) says.

IHS Markit expects natural gas production to rise by almost 8 billion cubic feet per day (Bcf/d) or more than 10 percent in 2018 alone. Altogether, U.S. production is expected to grow by another 60 percent over the next 20 years, the report says.

Additionally, IHS Markit now estimates that approximately 1,250 trillion cubic feet (Tcf) of U.S. supply is economic below $4 per MMBtu Henry Hub price today, up from a previous estimate of 900 Tcf in 2010.

The new report, entitled The Shale Gale Turns 10: A Powerful Wind at America’s Back assesses the impacts of the first 10 years of the unconventional gas revolution—unlocked through the combination of hydraulic fracturing and horizontal drilling technologies—and its future potential. When the shale revolution began a decade ago, the prevailing assumption was that the U.S. supply base was being exhausted and that the country would have to become a major importer of liquefied natural gas (LNG).

Instead, in what the report describes as a “wholesale turnaround,” U.S. output rose by more than 40 percent in that first decade (2007-2017) and real natural gas prices fell by two thirds during the same period.

In contrast to the assumption a decade ago, the United States is now on track to become one of the world’s major LNG exporters, the report notes. IHS Markit expects U.S. LNG export capacity to more than double in the next five years and rise to at least 10 Bcf/d by 2023.

“To say that the ‘Shale Gale’—as IHS Markit originally coined it in 2010—has been anything but a veritable revolution would be an understatement,” said Daniel Yergin, vice chairman, IHS Markit and co-author of the report. “It represents a dramatic and largely unanticipated turnaround that dramatically changed both markets and long-term thinking about energy. The profound and ongoing impacts on the industry, energy markets, the wider economy and the U.S. position in the world continue to unfold.”

The most dramatic effect has been on the U.S. electric power industry, the report says. Where coal and nuclear had previously dominated the growth in share of U.S. electric power generation, natural gas has become a “backbone of electric generation” and regularly competes with coal for the largest share of total electric generation. By 2040, IHS Markit expects natural gas’ share to grow from almost one-third to nearly half of all electricity generated in the United States.

The report observes that the Shale Gale, has also made a major contribution to reducing U.S. CO2 emissions. IHS Markit estimates that in 2017, CO2 emissions from power generation were down 30 percent from 2005. More than half of that emission decline was from gas replacing coal.

What started with natural gas would be extended to oil a few years later, with enormous global impact, the report notes. Between 2008 and 2018, U.S. oil output more than doubled and exceeded the previous height set in 1970. On a net basis, the United States went from importing 60 percent of its liquid fuel at the peak to below 16 percent in 2018—and the share is still falling. The United States is now on track to be the world’s largest oil producer, ahead of Russia and Saudi Arabia, by early next year.

The combined developments of unconventional oil and gas have had far-reaching impacts for the manufacturing sector and the U.S. economy as a whole, the report says.

IHS Markit estimates that more than $120 billion in new capital investments will be spent from 2012-2020 to expand U.S. petrochemical manufacturing capacity—a result of abundant and inexpensive natural gas and natural gas liquids providing advantages in terms of thermal energy, feedstock and electricity costs. “Ancillary” investments could double that number, the report says.

Previous IHS Markit research found that as many as four million jobs (indirect, direct and induced) could be supported by unconventional activity by 2025.

“U.S. power markets and the economy overall would look significantly different had the shale revolution not taken place,” said Sam Andrus, executive director, IHS Markit and co-author of the report. “The new outlook for natural gas cost and availability has created new possibilities for progress toward national goals of energy efficiency, cost efficiency, environmental protection and energy security. In short, the Shale Gale put a powerful new wind at America’s back.”

The Shale Gale Turns 10 will be followed by a series of research papers available to IHS Markit clients, exploring the global implications of the Shale Gale for the energy value chain, economies and geopolitics.

About IHS Markit (www.ihsmarkit.com)

IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions.

IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2018 IHS Markit Ltd. All rights reserved.

MILWAUKEE--(BUSINESS WIRE)--Actuant Corporation (NYSE: ATU) today announced results for its third quarter ended May 31, 2018.


  • Consolidated sales increased 7% over the comparable prior year quarter with a 4% benefit from foreign currency rate changes and a 1% reduction associated with net acquisitions and divestitures. Third quarter core sales (total sales excluding the impact of acquisitions, divestitures and foreign currency rate changes) increased 4% on a year-over-year basis with strong volumes in both the Engineered Solutions and Industrial segments.
  • GAAP diluted earnings per share (“EPS”) was $0.48 in the third quarter of fiscal 2018 versus $0.37 in the prior year. Excluding third quarter fiscal 2018 one-time items, adjusted EPS was $0.39 (see Consolidated Results below, along with the attached reconciliation of earnings).
  • Strong operating cash flow generation and reduction in net leverage improves capital allocation liquidity.
  • Acquired Equalizer, a small tool product line tuck-in to expand pipe and flange alignment capabilities.
  • Full year fiscal 2018 sales and adjusted EPS guidance updated to $1.17-1.18 billion and $1.03-1.08 (excluding one-time items), respectively.

Randy Baker, President and CEO of Actuant commented, “I’m pleased with Actuant’s performance in the third quarter, delivering both solid sales and earnings growth. We continue to see strong momentum in the industrial tools and OEM component businesses, and global Energy maintenance activity appears to have stabilized. While we continue to experience some pressures from inflation along with commercial and engineering investments to support high service levels and growth, we are realizing the incremental margin benefits of higher volumes and restructuring actions. In summary, I am encouraged by this quarter’s performance and our team’s ability to capitalize on the broad based strong economic backdrop. I want to thank our employees across the globe for their continued commitment and execution.”

Consolidated Results

Consolidated sales for the third quarter were $317 million, 7% higher than the $295 million in the comparable prior year quarter. Core sales improved 4% year-over-year while foreign currency rate changes increased sales 4% and the net impact from the Mirage acquisition net of the Viking divestiture reduced sales by 1%. Fiscal 2018 third quarter net earnings and EPS were $29.0 million, or $0.48, compared to $22.5 million, or $0.37, respectively, in the comparable prior year quarter. Fiscal 2018 third quarter earnings included restructuring charges of $1.2 million (benefit of $0.2 million and zero EPS, after tax) and a $4.9 million ($0.09 per share) benefit related to an adjustment to the original provision for U.S. tax reform based on further IRS clarification. (Note that impacts from tax reform remain provisional and subject to further adjustment.) Third quarter 2017 results included $0.4 million ($0.2 million and zero EPS, after tax) of restructuring charges and a $3.2 million income tax benefit ($0.05 per share). Excluding these items, adjusted EPS for the third quarter of fiscal 2018 was $0.39 compared to $0.32 in the comparable prior year period (see attached reconciliation of earnings).

Consolidated sales for the nine months ended May 31, 2018 were $881 million, 7% higher than the $820 million in the comparable prior year period. Core sales improved 5% year-over-year while foreign currency rate changes increased sales 3%, and the net impact of acquisitions and divestitures reduced sales by 1%. Fiscal 2018’s year-to-date net earnings and EPS were $16.0 million, or $0.26, compared to earnings and EPS of $32.6 million, and $0.54, respectively, in the comparable prior year period. Fiscal 2018 year-to-date results include restructuring charges of $12.1 million ($9.8 million or $0.16 per share, after tax) along with impairment & divestiture, tax reform and equity compensation items. Fiscal 2017 comparable results included $5.4 million ($4.0 million or $0.07 per share, after tax) of restructuring charges along with director and officer transition charges and an income tax benefit. Excluding these items, adjusted EPS for the first nine months of fiscal 2018 was $0.71 compared to $0.64 in the comparable prior year period (see attached reconciliation of earnings).

Segment Results

Industrial Segment

(US $ in millions)

Three Months Ended May 31, Nine Months Ended May 31,
2018   2017 2018   2017
Sales $108.3 $100.5 $304.3 $279.4
Operating Profit $26.0 $23.7 $61.0 $60.8
Adjusted Op Profit (1) $25.8 $24.0 $63.8 $62.5
Adjusted Op Profit % (1) 23.9% 23.9% 21.0% 22.4%

(1) 2018 excludes $(0.2) and $2.8 of restructuring charges in the third quarter and nine months, respectively. 2017 excludes $0.3 and $1.7 of restructuring charges in the third quarter and nine months, respectively.

Third quarter fiscal 2018 Industrial segment sales were $108 million, or 8% higher than the prior year. The impact of foreign currency exchange rates was a 4% benefit resulting in a 4% year-over-year core sales increase. Sales of standard industrial tools remained strong, growing double digits on a global basis with broad demand across the diverse set of end markets served despite tougher comparables. The segment’s overall core sales growth rate includes significantly lower heavy lifting technology sales and a modest decline in concrete tensioning volumes. Third quarter adjusted operating profit margin was level with the prior year and improved 520 basis points sequentially. Strong incremental profits within the industrial tool channel were partially offset by continued costs associated with heavy lifting specialty projects and concrete tensioning production inefficiencies, although less severe than prior quarters.


Energy Segment

(US $ in millions)

Three Months Ended May 31, Nine Months Ended May 31,
2018   2017 2018   2017
Sales $83.9 $83.5 $225.7 $241.0
Operating Profit $6.2 $0.9 $2.0 $3.6
Adjusted Op Profit (2) $7.0 $0.9 $9.0 $3.6
Adjusted Op Profit % (2) 8.4% 1.1% 4.0% 1.5%

(2) 2018 excludes $0.8 and $4.0 of restructuring charges in the third quarter and nine months, respectively. 2018 nine month results also exclude $3.0 in impairment & divestiture charges.

Fiscal 2018 third quarter Energy segment sales were approximately level with the prior year at $84 million. The 3% favorable impact of the weaker US dollar was offset by the 2% headwind from the net of the Viking divestiture and Mirage acquisition, while core sales declined 1%. Hydratight’s global maintenance activity levels stabilized, with improvements in the Middle East and North Sea offset by declines in certain other regions. Cortland sales grew slightly on higher medical product demand along with improving offshore oil & gas seismic and cable activity. Energy segment adjusted operating profit margin improved substantially both year-over-year and sequentially due to the benefits of restructuring and service excellence actions, favorable sales mix, and the absence of Viking losses.


Engineered Solutions Segment

(US $ in millions)

Three Months Ended May 31, Nine Months Ended May 31,
2018   2017 2018   2017
Sales $124.9 $111.4 $351.2 $299.6
Operating Profit $9.0 $8.1 $17.6 $10.7
Adjusted Op Profit (3) $9.0 $8.2 $18.1 $14.3
Adjusted Op Profit % (3) 7.2% 7.3% 5.1% 4.8%

(3) 2018 excludes $0.5 of restructuring charges for the nine months. 2017 excludes $0.1 and $3.6 of restructuring charges in the third quarter and nine months, respectively.

Third quarter fiscal 2018 Engineered Solutions segment sales were $125 million or 12% above the prior year. Excluding the 5% benefit of the weaker US dollar, year-over-year core sales increased 7%. Strong sales growth continued across the agriculture and other off-highway equipment markets globally, while truck sales were modestly higher as growth in Europe production was partially offset by anticipated lower China volumes. Third quarter adjusted operating profit margin was about level with the comparable prior year quarter as the higher volumes were offset by higher engineering expenses to support growth, material and labor inflation and unfavorable mix.

Corporate Expenses and Income Taxes (excluding restructuring, transition, and one-time tax items)

Corporate expenses for the third quarter of fiscal 2018 were $8.1 million, or $2.7 million greater than the comparable prior year period due primarily to higher incentive compensation and outside services costs. The effective income tax rate of approximately 9% was modestly above expectations and higher than the prior year’s -4% rate.

Financial Position

Net debt at May 31, 2018 was approximately $351 million (total debt of $540 million less $189 million of cash) which declined approximately $43 million from the prior quarter end. Strong cash flow was used to reduce net debt and the Company deployed approximately $6 million on a small tool product line acquisition. The net debt to proforma EBITDA leverage ratio declined to 2.6 times.


Baker continued, "I believe our third quarter results demonstrate that we are on the path toward higher structural sales and margin performance, and we expect to further build on these solid results. This underlying performance, combined with anticipated improvement in energy maintenance activity levels, effectively managing the inflationary environment and our expected continued progress in new product launches, we believe positions us well to deliver on our 2018 full year guidance.

With one quarter to go in the fiscal year, we are increasing our full year sales guidance and narrowing our adjusted EPS guidance range to reflect our performance to date and the latest outlook for the remainder of the year. For the fourth quarter, we anticipate sales will be in the $290-300 million range reflecting normal seasonal moderation from the third quarter. Fourth quarter adjusted EPS is expected to be in the range of $0.32-0.37. This includes core sales growth of approximately 3-5% and a mid-single digit effective income tax rate. This would bring our full year sales and adjusted EPS guidance to a range of $1.17-1.18 billion and $1.03-1.08, respectively. Free cash flow is expected to be in the $70-75 million range and would represent greater than 100% earnings conversion.”

All guidance excludes restructuring, divestiture & impairment charges, one-time tax adjustments as well as the impact of potential future acquisitions, dispositions and share repurchases.

Baker concluded, “The global economy and our markets continue to show strength, and our growth initiatives are taking hold. By working to improve our commercial effectiveness and speed to market, enhance our lean execution and complete critical portfolio management actions, we believe we will be well positioned to drive significant long-term value for our customers, employees and shareholders.”

Conference Call Information

An investor conference call is scheduled for 10am CT today, June 20, 2018. Webcast information and conference call materials will be made available on the Actuant company website (www.actuant.com) prior to the start of the call.

Safe Harbor Statement

Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. Management cautions that these statements are based on current estimates of future performance and are highly dependent upon a variety of factors, which could cause actual results to differ from these estimates. Actuant’s results are also subject to general economic conditions, variation in demand from customers, the impact of geopolitical activity on the economy, continued market acceptance of the Company’s new product introductions, the successful integration of acquisitions, restructuring, operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, material and labor cost increases, tax reform, foreign currency fluctuations and interest rate risk. See the Company’s Form 10-K filed with the Securities and Exchange Commission for further information regarding risk factors. Actuant disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information, future events or any other reason.

About Actuant Corporation

Actuant Corporation is a diversified industrial company serving customers from operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic tools and solutions; specialized products and services for energy markets and highly engineered position and motion control systems. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its businesses, visit the Company's website at www.actuant.com.

(tables follow)

Actuant Corporation
Condensed Consolidated Balance Sheets
(Dollars in thousands)
May 31, August 31,
2018 2017
Current assets
Cash and cash equivalents $ 189,490 $ 229,571
Accounts receivable, net 212,284 190,206
Inventories, net 167,317 143,651
Assets held for sale - 21,835
Other current assets   58,732     61,663  
Total current assets 627,823 646,926
Property, plant and equipment, net 100,765 94,521
Goodwill 538,792 530,081
Other intangible assets, net 210,160 220,489
Other long-term assets   27,245     24,938  
Total assets $ 1,504,785   $ 1,516,955  
Current liabilities
Trade accounts payable $ 142,199 $ 133,387
Accrued compensation and benefits 48,093 50,939
Current maturities of debt and short-term borrowings 30,000 30,000
Income taxes payable 17,605 6,080
Liabilities held for sale - 101,083
Other current liabilities   63,437     57,445  
Total current liabilities 301,334 378,934
Long-term debt, net 510,007 531,940
Deferred income taxes 19,491 29,859
Pension and postretirement benefit liabilities 18,692 19,862
Other long-term liabilities   54,233     55,821  
Total liabilities 903,757 1,016,416
Shareholders' equity
Capital stock 16,227 16,040
Additional paid-in capital 159,653 138,449
Treasury stock (617,731 ) (617,731 )
Retained earnings 1,207,059 1,191,042
Accumulated other comprehensive loss (164,180 ) (227,261 )
Stock held in trust (2,594 ) (2,696 )
Deferred compensation liability   2,594     2,696  
Total shareholders' equity   601,028     500,539  
Total liabilities and shareholders' equity $ 1,504,785   $ 1,516,955  
Actuant Corporation
Condensed Consolidated Statements of Earnings
(Dollars in thousands, except per share amounts)
Three Months Ended Nine Months Ended
May 31, May 31, May 31, May 31,
2018   2017 2018   2017
Net sales $ 317,096 $ 295,427 $ 881,216 $ 820,089
Cost of products sold   200,587       192,623     574,100     536,892  
Gross profit 116,509 102,804 307,116 283,197
Selling, administrative and engineering expenses 77,570 70,051 220,550 205,609
Amortization of intangible assets 5,184 5,037 15,483 15,368
Director & officer transition charges - - - 7,784
Restructuring charges 1,170 384 11,249 5,433
Impairment & divestiture charges   -       -     2,987     -  
Operating profit 32,585 27,332 56,847 49,003
Financing costs, net 7,756 7,553 22,874 22,019
Other (income) expense, net   (188 )     1,297     508     1,260  
Earnings before income tax (benefit) expense 25,017 18,482 33,465 25,724
Income tax (benefit) expense   (3,995 )     (4,029 )   17,448     (6,827 )
Net earnings $ 29,012     $ 22,511   $ 16,017   $ 32,551  
Earnings per share
Basic $ 0.48 $ 0.38 $ 0.27 $ 0.55
Diluted 0.48 0.37 0.26 0.54
Weighted average common shares outstanding
Basic 60,683 59,675 60,291 59,339
Diluted 61,064 60,402 60,850 60,055
Actuant Corporation
Condensed Consolidated Statements of Cash Flows
(In thousands)
Three Months Ended Nine Months Ended
May 31, May 31, May 31, May 31,
2018 2017 2018 2017
Operating Activities
Net earnings $ 29,012 $ 22,511 $ 16,017 $ 32,551
Adjustments to reconcile net earnings to net cash
provided by operating activities:
Impairment & other divestiture charges, including tax expense - - 12,385 -
Depreciation and amortization 10,415 10,637 30,800 32,262
Stock-based compensation expense 3,659 2,675 11,951 14,852
(Benefit) expense for deferred income taxes (3,455 ) 813 (10,579 ) 1,364
Amortization of debt issuance costs 413 418 1,239 1,244
Other non-cash adjustments 147 308 347 1,023
Changes in components of working capital and other:
Accounts receivable (4,584 ) (1,721 ) (21,456 ) (22,618 )
Inventories (4,157 ) 75 (22,590 ) (319 )
Trade accounts payable 6,915 1,181 5,162 13,457
Prepaid expenses and other assets (4,524 ) 3,707 (13,692 ) (7,112 )
Income tax accounts 8,484 (12,355 ) 25,989 (19,273 )
Accrued compensation and benefits 7,778 7,473 (2,181 ) 3,769
Other accrued liabilities   7,592     1,658     2,197     862  
Cash provided by operating activities 57,695 37,380 35,589 52,062
Investing Activities
Capital expenditures (6,169 ) (8,224 ) (18,716 ) (22,919 )
Proceeds from sale of property, plant and equipment 35 - 148 244
Rental asset buyout for Viking divestiture - - (27,718 ) -
Proceeds from sale of business, net of transaction costs - - 8,780 -
Cash paid for business acquisitions, net of cash acquired   (5,809 )   -     (22,326 )   -  
Cash used in investing activities (11,943 ) (8,224 ) (59,832 ) (22,675 )
Financing Activities
Principal repayments on term loan (7,500 ) (3,750 ) (22,500 ) (11,250 )
Stock option excercises & other 130 1,365 10,435 7,314
Redemption of 5.625% senior notes - (500 ) - (500 )
Taxes paid related to the net share settlement of equity awards (172 ) (79 ) (1,279 ) (999 )
Payment of deferred acquisition consideration - (742 ) - (742 )
Cash dividend   -     -     (2,390 )   (2,358 )
Cash used in financing activities (7,542 ) (3,706 ) (15,734 ) (8,535 )
Effect of exchange rate changes on cash   (2,315 )   1,614     (104 )   (1,502 )
Net increase (decrease) in cash and cash equivalents 35,895 27,064 (40,081 ) 19,350
Cash and cash equivalents - beginning of period   153,595     171,890     229,571     179,604  
Cash and cash equivalents - end of period $ 189,490   $ 198,954   $ 189,490   $ 198,954  
(Dollars in thousands)
Q1   Q2   Q3   Q4   TOTAL Q1   Q2   Q3   Q4   TOTAL
INDUSTRIAL SEGMENT $ 87,290 $ 91,648 $ 100,503 $ 100,315 $ 379,756 $ 96,916 $ 99,081 $ 108,297 $ - $ 304,294
ENERGY SEGMENT 84,646 72,884 83,480 68,584 309,594 75,841 65,992 83,857 - 225,690
ENGINEERED SOLUTIONS SEGMENT   93,857       94,337       111,444       106,796       406,434     116,198       110,092       124,942       -     351,232  
TOTAL $ 265,793     $ 258,869     $ 295,427     $ 275,695     $ 1,095,784   $ 288,955     $ 275,165     $ 317,096     $ -   $ 881,216  
INDUSTRIAL SEGMENT -2 % 13 % 5 % 7 % 6 % 11 % 8 % 8 % - 9 %
ENERGY SEGMENT -26 % -15 % -18 % -25 % -21 % -10 % -9 % 0 % - -6 %
ENGINEERED SOLUTIONS SEGMENT -8 % -2 % 3 % 18 % 2 % 24 % 17 % 12 % - 17 %
TOTAL -13 % -2 % -3 % 0 % -5 % 9 % 6 % 7 % - 7 %
INDUSTRIAL SEGMENT $ 19,491 $ 19,037 $ 24,019 $ 24,076 $ 86,623 $ 19,482 $ 18,493 $ 25,845 $ - $ 63,820
ENERGY SEGMENT 3,328 (647 ) 895 (3,675 ) (99 ) 1,224 747 7,033 - 9,004
ENGINEERED SOLUTIONS SEGMENT 2,834 3,282 8,174 6,069 20,359 6,618 2,409 9,038 - 18,065
CORPORATE / GENERAL   (6,450 )     (6,372 )     (5,372 )     (6,935 )     (25,128 )   (6,022 )     (4,789 )     (8,145 )     -     (18,956 )
ADJUSTED OPERATING PROFIT $ 19,203 $ 15,300 $ 27,716 $ 19,535 $ 81,755 $ 21,302 $ 16,860 $ 33,771 $ - $ 71,933
IMPAIRMENT & DIVESTITURE CHARGES - - - (116,979 ) (116,979 ) - (2,987 ) - - (2,987 )
RESTRUCTURING CHARGES (1) (2,948 ) (2,101 ) (384 ) (1,795 ) (7,228 ) (6,629 ) (4,284 ) (1,186 ) - (12,099 )
DIRECTOR & OFFICER TRANSITION CHARGES   (7,784 )     -       -       -       (7,784 )   -       -       -       -     -  
OPERATING PROFIT (LOSS) $ 8,471     $ 13,199     $ 27,332     $ (99,239 )   $ (50,236 ) $ 14,673     $ 9,589     $ 32,585     $ -   $ 56,847  
INDUSTRIAL SEGMENT 22.3 % 20.8 % 23.9 % 24.0 % 22.8 % 20.1 % 18.7 % 23.9 % - 21.0 %
ENERGY SEGMENT 3.9 % -0.9 % 1.1 % -5.4 % 0.0 % 1.6 % 1.1 % 8.4 % - 4.0 %
ENGINEERED SOLUTIONS SEGMENT 3.0 % 3.5 % 7.3 % 5.7 % 5.0 % 5.7 % 2.2 % 7.2 % - 5.1 %
ADJUSTED OPERATING PROFIT % 7.2 % 5.9 % 9.4 % 7.1 % 7.5 % 7.4 % 6.1 % 10.7 % - 8.2 %
INDUSTRIAL SEGMENT $ 21,217 $ 21,064 $ 25,575 $ 25,851 $ 93,707 $ 21,202 $ 21,034 $ 27,823 $ - $ 70,059
ENERGY SEGMENT 9,108 2,943 4,633 142 16,826 5,125 4,533 11,554 - 21,212
ENGINEERED SOLUTIONS SEGMENT 6,281 7,277 11,716 9,533 34,807 10,254 6,020 12,566 - 28,840
CORPORATE / GENERAL   (5,879 )     (5,846 )     (4,868 )     (6,637 )     (23,230 )   (5,518 )     (4,799 )     (7,569 )     -     (17,886 )
ADJUSTED EBITDA $ 30,727 $ 25,438 $ 37,056 $ 28,889 $ 122,110 $ 31,063 $ 26,788 $ 44,374 $ - $ 102,225
IMPAIRMENT & DIVESTITURE CHARGES - - - (116,979 ) (116,979 ) - (2,987 ) - - (2,987 )
RESTRUCTURING CHARGES (1) (2,948 ) (2,101 ) (384 ) (1,795 ) (7,228 ) (6,629 ) (4,284 ) (1,186 ) - (12,099 )
DIRECTOR & OFFICER TRANSITION CHARGES   (7,784 )     -       -       -       (7,784 )   -       -       -       -     -  
EBITDA $ 19,995     $ 23,337     $ 36,672     $ (89,885 )   $ (9,881 ) $ 24,434     $ 19,517     $ 43,188     $ -   $ 87,139  
INDUSTRIAL SEGMENT 24.3 % 23.0 % 25.4 % 25.8 % 24.7 % 21.9 % 21.2 % 25.7 % - 23.0 %
ENERGY SEGMENT 10.8 % 4.0 % 5.5 % 0.2 % 5.4 % 6.8 % 6.9 % 13.8 % - 9.4 %
ENGINEERED SOLUTIONS SEGMENT 6.7 % 7.7 % 10.5 % 8.9 % 8.6 % 8.8 % 5.5 % 10.1 % - 8.2 %
ADJUSTED EBITDA % 11.6 % 9.8 % 12.5 % 10.5 % 11.1 % 10.8 % 9.7 % 14.0 % - 11.6 %
Note: (1) Approximately $0.8 million of the Q2 fiscal 2018 restructuring charges were recorded in cost of products sold. De minimis restructuring charges were also recorded in cost of products sold in Q3 fiscal 2018.
  (Dollars in thousands, except for per share amounts)  
NET EARNINGS (LOSS) (GAAP MEASURE) $ 4,965 $ 5,074 $ 22,511 $ (98,764 ) $ (66,213 ) $ 5,226 $ (18,221 ) $ 29,012 $ - $ 16,017
IMPAIRMENT & DIVESTITURE CHARGES - - - 116,979 116,979 - 2,987 - - 2,987
INCOME TAX (BENEFIT) EXPENSE ON IMPAIRMENT & DIVESTITURE CHARGES - - - (8,119 ) (8,119 ) - 9,398 - - 9,398
DIRECTOR & OFFICER TRANSITION CHARGES 7,784 - - - 7,784 - - - - -
RESTRUCTURING CHARGES (1) 2,948 2,101 384 1,795 7,228 6,629 4,284 1,186 - 12,099
INCOME TAX BENEFIT ON RESTRUCTURING CHARGES (777 ) (564 ) (124 ) (494 ) (1,959 ) (375 ) (500 ) (1,435 ) - (2,310 )
INCOME TAX EXPENSE (BENEFIT) FROM U.S. TAX REFORM - - - - - - 8,367 (4,891 ) - 3,476
OTHER INCOME TAX BENEFIT   -     -     (3,193 )   -     (3,193 )   -     -     -     -   -  
ADJUSTED EARNINGS $ 12,040   $ 6,611   $ 19,578   $ 11,397   $ 49,627   $ 11,480   $ 7,653   $ 23,872   $ - $ 43,005  
NET EARNINGS (LOSS) (GAAP MEASURE) $ 0.08 $ 0.08 $ 0.37 $ (1.65 ) $ (1.11 ) $ 0.09 $ (0.30 ) $ 0.48 $ - $ 0.26
IMPAIRMENT & DIVESTITURE CHARGES - - - 1.96 1.96 - 0.05 - - 0.05
RESTRUCTURING CHARGES (1) 0.05 0.04 0.01 0.03 0.12 0.11 0.07 0.02 - 0.20
INCOME TAX BENEFIT ON RESTRUCTURING CHARGES (0.01 ) (0.01 ) (0.01 ) (0.01 ) (0.03 ) (0.01 ) (0.01 ) (0.02 ) - (0.04 )
INCOME TAX EXPENSE (BENEFIT) FROM U.S. TAX REFORM - - - - - - 0.14 (0.09 ) - 0.06
OTHER INCOME TAX BENEFIT   -     -     (0.05 )   -     (0.05 )   -     -     -     -   -  
ADJUSTED DILUTED EARNINGS PER SHARE $ 0.20   $ 0.11   $ 0.32   $ 0.19   $ 0.83   $ 0.19   $ 0.13   $ 0.39   $ - $ 0.71  
NET EARNINGS (LOSS) (GAAP MEASURE) $ 4,965 $ 5,074 $ 22,511 $ (98,764 ) $ (66,213 ) $ 5,226 $ (18,221 ) $ 29,012 $ - $ 16,017
FINANCING COSTS, NET 7,132 7,334 7,553 7,683 29,703 7,514 7,604 7,756 - 22,874
INCOME TAX (BENEFIT) EXPENSE (2,998 ) 200 (4,029 ) (9,651 ) (16,478 ) 1,604 19,839 (3,995 ) - 17,448
DEPRECIATION & AMORTIZATION   10,896     10,729     10,637     10,847     43,108     10,090     10,295     10,415     -   30,800  
EBITDA $ 19,995 $ 23,337 $ 36,672 $ (89,885 ) $ (9,881 ) $ 24,434 $ 19,517 $ 43,188 $ - $ 87,139
IMPAIRMENT & OTHER DIVESTITURE CHARGES - - - 116,979 116,979 - 2,987 - - 2,987
DIRECTOR & OFFICER TRANSITION CHARGES 7,784 - - - 7,784 - - - - -
RESTRUCTURING CHARGES   2,948     2,101     384     1,795     7,228     6,629     4,284     1,186     -   12,099  
ADJUSTED EBITDA $ 30,727   $ 25,438   $ 37,056   $ 28,889   $ 122,110   $ 31,063   $ 26,788   $ 44,374   $ - $ 102,225  
NOTE: The total of the individual quarters may not equal the annual total due to rounding.
(1) Approximately $0.8 million of Q2 fiscal 2018 restructuring charges were recorded in cost of products sold. De minimis restructuring charges were also recorded in cost of products sold in Q3 fiscal 2018.
(2) Adjusted earnings and adjusted diluted earnings per share represent net earnings (loss) and diluted earnings (loss) per share per the Condensed Consolidated Statements of Earnings net of charges or credits for items to be highlighted for comparability purposes. These measures should not be considered as an alternative to net earnings (loss) or diluted earnings (loss) per share or as an indicator of the Company's operating performance. However, this presentation is important to investors for understanding the operating results of the current portfolio of Actuant companies. The total of the individual components may not equal due to rounding.
(3) EBITDA represents net earnings (loss) before financing costs, net, income tax (benefit) expense, and depreciation & amortization. EBITDA is not a calculation based upon generally accepted accounting principles (GAAP). The amounts included in the EBITDA and Adjusted EBITDA calculation, however, are derived from amounts included in the Condensed Consolidated Statements of Earnings. EBITDA should not be considered as an alternative to net earnings (loss), operating profit (loss) or operating cash flows. Actuant has presented EBITDA because it regularly reviews this performance measure. In addition, EBITDA is used by many of our investors and lenders, and is presented as a convenience to them. The EBITDA measure presented may not always be comparable to similarly titled measures reported by other companies due to differences in the components of the calculation.
  (Dollars in millions, except for per share amounts)
Q4 FISCAL 2018 FISCAL 2018
GAAP DILUTED EARNINGS PER SHARE $ 0.32 $ 0.37 $ 0.58 $ 0.63
OTHER   10     10  
NOTE: Management does not provide guidance on GAAP financial measures as we are unable to predict and estimate with certainty items such as potential impairments, refinancing costs, business divestiture gains/losses, discrete tax adjustments, or other items impacting GAAP financial metrics. As a result, we have included above only those items about which we are aware and are reasonably likely to occur during the guidance period covered.

NEW YORK--(BUSINESS WIRE)--Greenbacker Renewable Energy Company LLC (“Company”) announced that, through a wholly-owned subsidiary, it recently executed an agreement to acquire all of the outstanding equity of Sun Farm V LLC and Sun Farm VI LLC (“Tar Heel Solar II Portfolio”) from ET Capital. The Tar Heel Solar II Portfolio consists of 2 “to be constructed” solar photovoltaic systems comprising 13.5 MW located in the towns of Hertford and Bethel, North Carolina. The Company is currently in negotiations with a tax equity provider, as well as a financial institution to provide project level financing, upon reaching commercial operation date (“COD”). The projects, which are expected to reach COD by the end of the third quarter of 2018, will sell power to Dominion Energy through a 15-year power purchase agreement.

“With the Tar Heel Solar II Portfolio, we will be adding two commercial solar assets with an investment-grade utility off-taker to the Company’s portfolio,” said Charles Wheeler, CEO of Greenbacker. “We continue to execute high quality investments while expanding our pipeline of alternative energy assets throughout the United States.”

Once the construction of this portfolio as well as our other partially constructed facilities in Southern California and Colorado are completed, the Company expects to own and operate in excess 256.4 MW of generating capacity comprising 61.5 MW of Wind facilities and 194.9 MW of commercial and residential solar facilities.

About Greenbacker Renewable Energy Company

Greenbacker Renewable Energy Company is a publicly registered, non-traded limited liability company that owns and operates a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The Company undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in the Companys expectations.

COLUMBIA, Md.--(BUSINESS WIRE)--SolarWindow Technologies, Inc. (OTC: WNDW) today announced its latest commercial alliance with nTact, a global leader in coating process knowledge and equipment manufacturing, necessary for large-scale production of transparent electricity-generating windows. With over 90 patents and trademark filings, the company’s electricity-generating window and flexible glass products, currently under development, target the estimated 5 million commercial buildings and tall towers in the United States and millions more worldwide.

“Our mandate is to bring SolarWindow™ electricity-generating products to the $100 billion global skyscraper and commercial buildings market,” stated Mr. John Conklin, President and CEO of SolarWindow Technologies, Inc.

To enable commercial production, SolarWindow first partnered with Triview Glass Industries, a glass fabrication plant, where its coatings can be applied to windows.

SolarWindow subsequently entered into a collaboration with Raynergy Tek, a chemicals developer, to ensure a steady supply of raw materials used in its coatings.

The alliance with nTact, announced today, provides specialty-coatings machinery needed for use in a high-volume SolarWindow production line at the plant.

SolarWindow scientists and engineers will work with nTact to design, prototype, test, and manufacture machinery and equipment necessary for coating glass and flexible materials with the company’s transparent electricity-generating coatings, which will be used to create a manufacturing line, with the goal of implementing large-scale production of SolarWindow™ electricity-generating glass and flexible products.

“We plan to use the methodologies, processes, and technologies required for large-scale coating created at nTact that, upon completion, would be shipped to Triview for incorporation into the SolarWindow production line,” explained Mr. Conklin.

Triview manufactures a wide variety of architectural and specialty glass products and has entered into a Process Integration and Production Agreement with SolarWindow for the fabrication of SolarWindow™ products.

Dallas-based nTact delivers equipment to Fortune 500 and Fortune 100 companies, with a focus on new technologies and emerging market applications. nTact is a global company with operations spanning the United States, United Kingdom, Germany, Japan, Korea, and China.

“We are thrilled to collaborate with SolarWindow Technologies in their exciting new technology and further engage in the market for electricity-generating glass. nTact’s specialized process equipment and expertise allows SolarWindow to achieve extremely important product development objectives by taking advantage of the skills and manufacturing equipment we have in-house,” stated Greg Gibson, Chief Technology Officer of nTact. “nTact prides itself on contributing to its partners’ success, and we’re delighted to support SolarWindow in the advancement of its innovative products.”

Targeting commercial buildings, which consume almost 40% of all the electricity in the United States, the company’s transparent electricity-generating windows could reduce energy costs by up to 50% and achieve a one-year financial payback for building owners, the industry’s fastest financial return, according to independently-validated power and financial modeling.

About SolarWindow Technologies, Inc.

SolarWindow Technologies, Inc. creates transparent electricity-generating liquid coatings. When applied to glass or plastics, these coatings convert passive windows and other materials into electricity generators under natural, artificial, low, shaded, and even reflected light conditions.

Our liquid coating technology has been presented to members of the U.S. Congress and received recognition in numerous industry publications. Our SolarWindow™ technology may generate 50-times the power of a conventional rooftop solar system and may achieve a one-year payback when installed on all four sides of a 50-story building, according to independently-validated power and financial modeling.

Power and Financial Model Disclaimer

The company’s Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling calculations, which are consistent with renewable energy practitioner standards for assessing, evaluating and estimating renewable energy for a PV project. The Power & Financial Model estimator takes into consideration building geographic location, solar radiation for flat-plate collectors (SolarWindow™ irradiance is derated to account for 360 degrees building orientation and vertical installation), climate zone energy use and generalized skyscraper building characteristics when estimating PV power and energy production, and carbon dioxide equivalents. Actual power, energy production and carbon dioxide equivalents modeled may vary based upon building-to-building situational characteristics and varying installation methodologies.

For additional information, please call Briana Erickson at 800-213-0689 or visit: www.solarwindow.com.

To receive future press releases via email, please visit: http://solarwindow.com/join-our-email-list/.

Follow us on Twitter @solartechwindow, or follow us on Facebook.

To view the full HTML text of this release, please visit: http://solarwindow.com/media/news-events/.

For answers to frequently asked questions, please visit our FAQs page: http://solarwindow.com/investors/faqs/.

Social Media Disclaimer

Investors and others should note that we announce material financial information to our investors using SEC filings and press releases. We use our website and social media to communicate with our subscribers, shareholders and the public about the company, SolarWindow™ technology development, and other corporate matters that are in the public domain. At this time, the company will not post information on social media could be deemed to be material information unless that information was distributed to public distribution channels first. We encourage investors, the media, and others interested in the company to review the information we post on the company’s website and the social media channels listed below:

• Facebook

• Twitter

* This list may be updated from time to time.

Legal Notice Regarding Forward-Looking Statements

No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although SolarWindow Technologies, Inc. (the “company” or “SolarWindow Technologies”) believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the company's products, technical problems with the company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. There can be no assurance that further research and development will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that SolarWindow Technologies, Inc. will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the company's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov. The company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

NEW YORK--(BUSINESS WIRE)--Today, the American Council on Renewable Energy (ACORE), a national business group made up of companies that finance, develop, manufacture and use all forms of renewable energy, announced the launch of a new campaign that aims to reach $1 trillion in new U.S. private sector investment in renewable energy and enabling grid technologies by 2030.

Through $1T 2030: The American Renewable Investment Goal, the country’s major providers of capital for energy infrastructure projects have now come together in a coordinated effort to accelerate the investment and deployment of renewable power as the sector moves to the next stage of market maturity.

The new campaign is managed through the Partnership for Renewable Energy Finance (PREF), a senior-level ACORE member program widely regarded as the nation’s most credible educational resource on renewable energy finance. To reach the ambitious but achievable goal of $1 trillion in domestic renewables investment by 2030, ACORE released a combined set of common sense policy reforms and distinct market drivers that are most essential for growth. As part of the $1T 2030 campaign, ACORE will be engaging with key business and government leaders, releasing new reports, hosting events and taking other steps in support of this important objective.

During opening remarks at the 15th annual Renewable Energy Finance Forum-Wall Street, ACORE President and CEO Gregory Wetstone commented:

“Renewable energy has come a long way and is economically competitive, but if we accept business-as-usual projections that predict a decline in annual investment and deployment levels in just a few years due to an uneven policy playing field, we will cede U.S. leadership and the immense range of economic benefits that come from being a dominant player in this booming global industry. With the $1T 2030 campaign, the investment community is charting a course to modernize America’s energy infrastructure that will create massive economic opportunities over the next decade and beyond.”

The $1 trillion in investment from 2018 to 2030 projected by ACORE is anticipated to be roughly split between direct private investment in renewable energy and investment in grid technologies, such as energy storage, that help improve integration of renewables and ensure a modern, reliable and resilient grid system now and in the future. In the absence of new policies, most analysts expect the recent flourishing pace of U.S. renewable investment to decline in the early 2020s, when renewable tax credits phase out, even as competing fossil fuel electricity sources retain permanent tax incentives.

If the campaign reaches its goal, America will close the innovation and investment gap with other nations, build on the impressive track record of job creation in wind, solar and related fields, and stay within striking distance of the U.S. commitment for greenhouse gas emission reductions outlined in the Paris Accord.

For more information regarding $1T 2030 initiative, please visit www.acore.org/1T2030.

The Future of U.S. Renewable Energy Investment: A Survey of Leading Financial Institutions

$1T 2030 is founded on a range of insights drawn from a new survey report of top investors gauging confidence in the U.S. renewable sector and the impacts of supportive policy reforms and market drivers.

ACORE’s survey took place in April 2018 and collected data and insights from senior-level respondents across the nation’s leading banking institutions, asset managers, private equity firms and other financial firms.

Survey respondents reported that with sustained demand, U.S. renewable energy will continue to be an attractive asset class with strong potential for investment growth. Market developments and policy changes over the coming decade will drive new demand for renewable energy, but investors are cautious about potential mixed policy signals which could slow demand.

Highlighted findings from the survey include:

  • Over the next three years, investor confidence in the U.S. renewable energy sector is expected to remain high, with an average confidence level of 84/100.
  • Two-thirds of respondents said they plan to increase their investments in U.S. renewables by more than five percent in 2018 compared with 2017, and half plan to increase their investments by more than 10 percent.
  • 89 percent of respondents who chose to project their companies’ investments in U.S. renewable energy between 2018 and 2030 said they would double their planned investments in U.S. renewables under a supportive policy and market scenario compared with a business-as-usual base case.
  • More than half (58 percent) of respondents said the lack of a federal policy driver for renewable energy after the sunsets of the production tax credit (PTC) and investment tax credit (ITC) is a hurdle for continued growth at current levels.
  • Expanded state renewable portfolio standards were identified as key growth policies, with 45 percent of respondents indicating they are “very important” and 50 percent indicating they are “important.”
  • 88 percent of the respondents identified energy storage to be a leading magnet for investment within the next three years. This investment should, in turn, stimulate renewable energy development, with three-quarters of respondents reporting energy storage scale-up to be an important market driver for renewables growth to 2030.

The full survey report is available at www.acore.org/investmentsurvey.


The American Council on Renewable Energy (ACORE) is a national non-profit organization that unites finance, policy and technology to accelerate the transition to a renewable energy economy. Founded in 2001, ACORE is the focal point for collaborative advocacy across the renewable energy sector, supported by hundreds of members spanning renewable energy technologies and constituencies. Every year, ACORE convenes top business leaders and policymakers at its annual forums on finance, policy and grid technology in New York City, Washington, D.C. and San Francisco. For more information, please visit www.acore.org and follow @ACORE on Twitter.

About PREF

ACORE’s Partnership for Renewable Energy Finance (PREF) is a coalition of senior-level officials with companies that finance, develop, manufacture, and use renewable energy. PREF members focus on increasing capital formation and investment in renewable energy and educating the public sector to ensure that policy impacts the market as efficiently and effectively as possible.

For more information, please visit www.acore.org/pref.

GE welcomes the confirmation of the three Eolien Maritime Français offshore windfarms paving the way for a buoyant offshore wind industry, which carries considerable potential for economic growth, job creation and high-tech innovation in France. These three offshore windfarms, located in Fécamp, Courseulles et Saint-Nazaire will lead to new job creation in France required to build and deliver GE’s Haliade 150-6MW wind turbines.

GE, which in March announced the development of the Haliade-X, the world’s biggest and most powerful wind turbine. The development will take place across GE Renewable Energy’s site in Nantes, Saint-Nazaire and Cherbourg and will continue to play an active role in shaping and growing a world class French offshore wind industry.


GE accueille avec satisfaction la confirmation des 3 parcs éoliens en mer du consortium Eolien Maritime Français qui favorise les conditions de développement de la filière éolienne en mer, porteuse d'opportunités de croissance économique, de création d'emplois et d'innovation technologique considérables en France. Les trois parcs éoliens en mer de Fécamp, Courseulles et Saint-Nazaire permettront la création sur le territoire des emplois nécessaires à la production des éoliennes GE Haliade 150-6MW.

GE, qui a notamment annoncé en mars le développement, depuis la France avec ses sites de Nantes, Saint-Nazaire et Cherbourg, de la plus puissante éolienne au monde, l'Haliade-X, continuera à prendre toute sa part dans la structuration d'une filière industrielle d'excellence française dans l'éolien en mer.

SAN DIEGO and CEDAR RAPIDS, Iowa (June 13, 2018)EDF Renewables and Alliant Energy’s Iowa energy company, today announced the signing of contracts by which EDF Renewables will develop and construct up to 200 megawatts (MW) of the Golden Plains Wind Project.

Golden Plains Wind Project is located in Winnebago and Kossuth counties in the north central portion of Iowa. The Project is expected to create 150+ construction jobs as well as inject millions of dollars in economic benefits to the local area. The project will be completed by early 2020 and is expected to produce enough clean energy to power 87,000 average homes a year.

“We are pleased to partner with Alliant Energy to deliver competitively-priced, clean energy to its customers through the Golden Plains Wind Project,” said Kate O’Hair, vice president development, North Region at EDF Renewables. “The Project will also provide an economic boost to the Iowa economy, through new construction and operations jobs, expanded tax base, and recurring, long-term income for participating landowners.”

Golden Plains wind farm is part of Alliant Energy’s plan to add 1,000 MW of new wind generation to Iowa by the end of 2020.

“Wind energy is a win for Iowans,” said Doug Kopp, president of Alliant Energy’s Iowa energy company. “The benefits of this project help customers through reductions in emissions and fuel cost. It gives landowners lease payments to help on the farm and it helps communities through increased local tax revenue for schools and community services.”


  1. Last 4 years have been path-breaking in India’s renewable energy landscape.
  1. Renewable power installed capacity has already reached over 70 GW. Over 40 GW renewable power capacity is under construction/tendered.

SAINT-MATHIEU-DE-RIOUX, Quebec–Régie intermunicipale de l’énergie du Bas-Saint-Laurent (RIÉBSL), the Régie Intermunicipale de l’Energie Gaspésie-Îles-de-la-Madeleine (RIÉGÎM) and EDF Renewables, together with around 170 guests, celebrated the inauguration of the Nicolas-Riou Wind Project today. The Project, with a capacity of 224.25 megawatts (MW), illustrates the importance of collaboration and support of local communities in the development and implementation of renewable energy projects.

Located in the Bas-Saint-Laurent, on the public and private lands of TNO Boisbouscache and the municipalities of Sainte-Françoise, Saint-Mathieu-de-Rioux, Saint-Médard (RCM of Basques) and Saint-Eugène-de-Ladrière (RCM of Rimouski-Neigette), the Nicolas-Riou Wind Project represents an investment of nearly CAD 500 million.

The wind farm, owned 50-percent by EDF Renewables, 33-percent by RIÉBSL, and 17-percent by RIÉGÎM, is comprised of 65 Vestas V117 wind turbines with a capacity of 3.45 MW each. The construction phase began in June 2016 and involved more than 400 workers at its peak. Since the commissioning in January 2018, the Project employs ten full-time operations and maintenance personnel.

Present at the inauguration, Mr. Jean D’Amour, Minister Delegate for Maritime Affairs, Minister responsible for the Bas-Saint-Laurent region and Member for Rivière-du-Loup – Témiscouata, took the opportunity to highlight the contribution of the workers and various stakeholders in the project. “I am very happy with the completion of this wind farm in Lower Laurentian territory. This project is certainly a major environmental project, but also represents a significant contribution to the economic development of municipalities and RCMs in the Bas-Saint-Laurent region.”

“Pride is the word that sums up the last nine years of commitment to build Canada’s largest community wind farm. This is a very nice private-public achievement resulting from the pooling of the skills of both partners,” said Michel Lagacé, President of RIÉBSL. “It is estimated that 50% of the hours worked resulted from Bas-St-Lauren contractors, half of whom are based in one of the two RCMs that host the Project. During the 18 months of construction, the Nicolas-Riou wind farm generated direct benefits of approximately $31 million in wages and purchases of services and materials in the Bas-Saint-Laurent region, of which more than half was in the RCMs of Basques and Rimouski-Neigette.”

According to Simon Deschênes, President of RIÉGÎM, “In addition to the profits distributed to public shareholders (forecast of $8 million annually over the next 25 years), annual contributions of $1.1 million will also be paid to the two RCMs during the life of the project. These are considerable sums that can be used at the discretion of communities, particularly as levers for development projects.”

“The strong partnership formed with RIEBSL and RIEGÎM demonstrates EDF Renewables commitment to working collaboratively with local communities and stakeholders and the success that results from pairing project development experience with local expectations, skills and talents,” said Cory Basil, Vice President Development for EDF Renewables Canada. “We are thankful for the vision, the dedication and commitment of our partners and are very proud to share in this celebration today to recognize the completion of Nicolas-Riou – a project that will bring significant economic benefits to the RCMs during its operation today and for many years to come.”

Nicolas-Riou is one of eight wind projects awarded to EDF Renewables in the context of Hydro-Québec Distribution’s 2008, 2010 and 2013 tenders. It is also the company’s fifth project held in partnership with RCMs or Aboriginal communities. The other four are La Mitis (24.6 MW), Le Granit (24.6 MW), Rivière-du-Moulin (350 MW) and Lac Alfred (300 MW). To date, EDF Renewables has commissioned 1,600 MW of wind and solar projects in Canada.


EDF Renewables (EDFR) is a subsidiary of EDF Energies Nouvelles, the EDF group’s entity specialized in renewable energy. Present in more than 20 countries under the name EDF Renewables and EDF Renouvelables, the Company develops, builds and operates clean energy power plants by employing an integrated approach to project development covering all aspects from conception to commissioning through to generation and long-term operations. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distributed solutions: solar, solar+storage, EV charging and energy management; and asset optimization: technical, operational, and commercial skills to maximize performance of generating projects. In Canada, EDF Renewables has 1,600 MW of wind and solar power facilities in service or under construction and 4,200 MW under development. For more information visit: www.edf-re.ca


RIÉBSL is a partnership between the eight RCMs of Bas-Saint-Laurent and the Malécite de Viger First Nation (PNMV). Its role is to negotiate and conclude one or more alliances with private and / or municipal partners to establish, acquire, finance and operate one or more wind farms for the benefit of the Lower Laurentian communities.

The Régie Intermunicipale de l’Energie Gaspésie-Îles-de-la-Madeleine groups together the five RCMs of this administrative region as well as the agglomeration of Îles-de-la-Madeleine.


Paris, France – June 1st, 2018 – The first GE Renewable Energy offshore wind turbine nacelle to be tested in the UK under a recent research & development agreement has been delivered to the Offshore Renewable Energy Catapult's world-leading 15 MW drive train test facility in Blyth, Northumberland.

The Haliade 150-6MW nacelle, containing the direct drive offshore wind turbine's Permanent Magnet Generator, will undergo advanced test and demonstration programs that accurately replicate real-world operational conditions to further enhance performance and reliability.

The nacelle was shipped from GE Renewable Energy's factory in Saint-Nazaire, France, on board the vessel Happy Sky. Following the approximate 12-month test program on the Haliade 150-6MW, GE's next generation Haliade-X 12 MW nacelle will be also delivered to Blyth for accelerated indoor testing and validation, while a full prototype unit will be installed at a yet-to-be determined site in 2019.

John Lavelle, Vice President & CEO of GE's Offshore Wind business, said "We decided to take our Haliade 150-6MW to ORE Catapult's site to be tested under rough and extreme conditions in a short period of time, that will allow us to collect data to be used on our recently announced Haliade-X 12 MW offshore wind turbine. We will utilize the data and learnings to enhance availability and power output, while introducing new features to meet customers' demands."

Commenting on the arrival of the Haliade-150, ORE Catapult Test & Validation director Tony Quinn said, "GE's Haliade programs will be the first to use the Catapult's 15 MW drive train test facility, and the investment in this technology is paramount to bringing such world leading research and development programs to the UK, supporting a strong local supply chain and innovation to service the offshore wind industry's ambitious growth plans."

The arrival of the Haliade 150-6MW nacelle marks the beginning of GE's offshore wind research and development activities in the UK, in close collaboration with ORE Catapult.

GE's Haliade 150-6MW offshore wind turbine is capable of generating sufficient electricity to power 5000 homes, and since December 2016 is successfully powering America's first offshore wind farm in Block Island (Rhode Island), while 66 units are currently being installed at Merkur's offshore wind farm in Germany.


About GE Renewable Energy
GE Renewable Energy is a $10 billion start-up that brings together one of the broadest product and service portfolios of the renewable energy industry. Combining onshore and offshore wind, hydro and innovative technologies such as concentrated solar power and more recently turbine blades, GE Renewable Energy has installed more than 400+ gigawatt capacity globally to make the world work better and cleaner. With more than 22,000 employees present in more than 55 countries, GE Renewable Energy is backed by the resources of the world's first digital industrial company. Our goal is to demonstrate to the rest of the world that nobody should ever have to choose between affordable, reliable, and sustainable energy.
Follow us @GErenewables and www.ge.com/renewableenergy
Media Contact: Santiago Chacon, GE Offshore Wind Communications Leader
This email address is being protected from spambots. You need JavaScript enabled to view it. | Mobile: +33 (0) 779 46 93 46

About ORE Catapult
ORE Catapult was established in 2013 by the UK Government and is one of a network of Catapults set up by Innovate UK in high growth industries. It is the UK's leading innovation centre for offshore renewable energy. Independent and trusted, with a unique combination of world-leading test and demonstration facilities and engineering and research expertise, ORE Catapult convenes the sector and delivers applied research, accelerating technology development, reducing risk and cost and enhancing UK-wide economic growth. Headquartered in Glasgow, it operates the National Renewable Energy Centre in Blyth, Northumberland and the Levenmouth Demonstration Turbine in Fife.
Media Contact: ORE Catapult: Charles Thompson, Marketing and Communications Director,
This email address is being protected from spambots. You need JavaScript enabled to view it. | Mobile: +44 (0)7715 484706

Santiago, Chile – May 9 2018 - GE Renewable Energy today announced its first wind energy project in Chile with Arroyo Energy Compañía de Energías Renovables Limitada. GE will be supplying six 3.6 MW turbines with 137-meter rotors and 110 meters tower. The machines will be installed at El Maitén and El Nogal wind sites in the south of the country, representing a total of 21,8 MW. This agreement is a testament to GE Renewable Energy's commitment to growth in Chile, enabling greater accessibility to sustainable and reliable energy. The country has 1.7 GW of wind power capacity installed and 4.9 GW of renewable energy capacity overall. The government-led "Energia 2050" plan states that about 60% of the country's demands should be met with renewable energy sources by 2035, and 70% by 2050.

Vikas Anand, General Manager for GE's Onshore Wind Business in the Americas said "We're excited to build on GE's 90 years of presence in Chile and bring Renewable Energy into the mix. GE believes in Chile's energy sector as a motor for development and we are determined to use our state-of-the art wind technology to harness the vast wind potential in the country."

The 3MW platform is ideally suited for low wind speeds and the constrained land environments where wind farms are developed in Chile. GE's 3.6-137 turbine is capable of providing up to 28% more Annual Energy Production1 than a previous generation of turbines.

Julio Friedmann, CEO of GE in Chile said "This is a huge step for GE in the region. Chile once more demonstrates its strategic value to the company and its long-term vision, setting an example to Latin America how the Energy sector should be in the future".

GE Renewable Energy is attending AWEA Windpower Conference in Chicago, Illinois, on May 7 – 10. Visit us at booth #4224

1 Compared to GE's 2.75-120 model


About GE Renewable Energy
GE Renewable Energy is a $10 billion start-up that brings together one of the broadest product and service portfolios of the renewable energy industry. Combining onshore and offshore wind, hydro and innovative technologies such as concentrated solar power and more recently turbine blades, GE Renewable Energy has installed more than 400+ gigawatts capacity globally to make the world work better and cleaner. With more than 22,000 employees present in more than 55 countries, GE Renewable Energy is backed by the resources of the world's first digital industrial company. Our goal is to demonstrate to the rest of the world that nobody should ever have to choose between affordable, reliable, and sustainable energy.
Follow us at www.ge.com/renewableenergy or on twitter @GErenewables

The Global Wind Energy Council (GWEC), the trade association representing the global wind sector, has appointed Ben Backwell as its new Chief Executive Officer (CEO). He replaces Steve Sawyer, who joined GWEC as its first Secretary General in 2007. Sawyer will continue his work with GWEC as its Senior Policy Advisor. 

“We are delighted to have Ben join us as GWEC’s new CEO,” says Morten Dyrholm, GWEC Chairman and Group Senior Vice President of Marketing, Communications & Public Affairs for Vestas Wind Systems. “He will bring solid industry knowledge, commercial acumen and communication and public affairs expertise to the role.” 

He adds, “We are extremely grateful to Steve Sawyer, who has played a big part in the success of GWEC and the global wind sector over the past 11+ years. We are pleased that we will continue to be able to count on Steve’s knowledge and network in his new role as Senior Policy Advisor.” 

Ben Backwell joins GWEC from global advisory company FTI Consulting, where he was a Managing Director in its Clean Energy Practice. Backwell is a leading strategist in the renewable energy industry and has advised many of the leading technology companies, utilities, developers and IPPs and financial institutions active in the sector. He is a former journalist and analyst who has covered energy policy and markets in a number of geographies including Europe, the US and Latin America. He is the author of Wind Power, the struggle for control of a new global industry,” (Routledge 2015, New Edition 2017) which has been described as the “definitive” story of the global wind industry. 

“The wind industry has seen phenomenal growth over the last 10 years, and is well placed to cement its position as one of the world’s leading energy sources, providing clean, cost-effective power for the digital age” says Backwell. 

“However, the wind sector will need to negotiate a series of market, regulatory, political and technological challenges over the coming period. Within this context, GWEC will need to play a central role in helping the sector and the organisation’s members to achieve their objectives.” 

He adds: “During the period of Steve’s tenure, global wind installations grew from 74GW to 539GW. I want to work with Steve and GWEC’s members to ensure that the next decade sees even greater growth.” 

About Ben Backwell


Ben Backwell is a leading commentator and strategist in the renewable energy sector. He worked as a journalist and analyst for 20 years, covering energy policy, markets and large energy companies in Europe, the US, Venezuela, Brazil, Argentina and other countries. He helped design the SolutionWind campaign for the European Wind Energy Association (now WindEurope) ahead of COP21 in 2015, before joining FTI Consulting as a Managing Director.

At FTI, Ben has advised leading renewable energy companies on strategy, financial and corporate communications and government affairs, including work on a number of major M&A transactions. He has taken part in the work of a number of industry initiatives and organizations, including the board of GWEC. Ben is the author of two books on the wind industry as well as a number of reports and white papers on power markets and policy frameworks. He holds an MSc in Political Science from the Institute of Latin American Studies, University of London. For full biography.  

  • The eighth edition of Mexico WindPower 2019 will take place 20-21 March 2019 in Centro Citibanamex, Mexico City
  • This is a strategic change requested by industry players

June 2018, Mexico City The eight edition of Mexico WindPower will take place from 20-21 March 2019 in Centro Citibanamex in Mexico City.

Held eight consecutive years, Mexico WindPower is the congress and exhibition specializing in wind energy. It is organized by the Mexican Wind Energy Association (AMDEE for its initials in Spanish) and the Global Wind Energy Council (GWEC), along with E. J. Krause Tarsus de México, and focuses on the industry’s latest innovations and solutions in Mexico.

The event has secured its position as the leading business meeting for the global wind industry through the consolidation of its specialized technical program and gathering more than 2,800 professionals from 27 countries, including government officials and authorities from the energy sector.

AMDEE president Leopoldo Rodríguez said: “The date change is beneficial for national and international exhibitors who highly value this annual meeting, which showcases the progress, challenges and opportunities we face as an industry.”

In no more than five years, Mexico’s installed wind energy capacity is expected to triple, from today’s 12,000 MW. From 2017 to 2031, Mexico will need 56,000 MW of newly installed energy capacity, and a quarter of this is expected to come from wind energy.

Currently, Mexico has more than 50,000 MW of wind energy potential, and 17,000 MW of this needs to be captured to reach the goal of generating 35% of electricity from clean technology sources by 2024.

“This is why our country is key in the energy transition we are experiencing, there are more than 200 companies participating by obtaining their electricity from wind power. Hence Mexico WindPower 2019 has become the technological platform for the national wind sector.”


About E.J. Krause Tarsus de México:

E.J. Krause Tarsus de Mexico develops international business forums, and since 1991 has produced the leading annual exhibitions and conferences in strategic industries in Mexico, such as plastics, manufacturing, environmental solutions, water, energy and hydrocarbons, smart mobility, styling, industrial forestry, and food and beverages. E.J. Krause Tarsus de Mexico is distinguished as being the sole organizer with the longest experience in the Mexican market. The company produces world-class events that showcase trends, innovations and global and local outlooks in each industry.  Tarsus Group is currently one of the most important organizers worldwide.

For more information, please visit: https://www.ejkrausetarsus.mx/


E.J. Krause Tarsus de México

Mónica Avilés Unda

Public Relations Manager


Tel. (55) 10871650 ext. 1151

Ideas en línea

Max Molina

[email protected]

Tel. (55) 14516422

Yanelly Reyes

[email protected]

Tel. (55) 14516422



From niche technology, wind energy is now a global success story. The wind industry provides 260,000 quality high-skilled jobs in Europe. On a global scale, that figure is now 1.15 million.

Today is Global Wind Day, an opportunity for citizens around the world to learn more about and show their support for wind power.  It’s also an opportunity for companies to showcase their technologies and contributions to local economic development and job creation at a more grass roots level.

The wind supply chain is benefitting regions across the globe, including economically less-advantaged ones. Citizens are benefitting from shared ownership of wind farms. Wind farms are also contributing to local economic activity through the taxes they pay to local governments – covering up to 25% of municipal revenues.

The wind industry has brought jobs and investment to many regions, including ones that have depended on traditional industries. Shipbuilding areas in e.g. northern Spain and northern Poland now produce towers, foundations, cranes and the jack-up vessels that install offshore turbines. Oil and gas-driven economies are benefitting too – New Mexico has invested €2.4bn in wind and the sector supports 4,000 jobs. In the US as a whole, wind turbine technician is one of the country’s two fastest growing jobs. In Canada it’s the same story. Alberta is investing €5.4bn of investment in new wind energy projects in the province. These are expected to generate €2.4bn in local spending and 15,000 job years of employment by 2030.

Wind energy is providing the world with clean, affordable power. After a record year of wind installations in 2017, Europe has an installed capacity of 169 GW.   Wind now provides 12% of Europe’s electricity and 44% in Denmark and 22% in Germany.  Globally there is now 539 GW of wind energy installed. Four US states get more than 30% of their electricity from wind, as does Uruguay and the state of South Australia.

WindEurope CEO Giles Dickson said: “Onshore wind is now the cheapest form of new power generation in most of Europe, and offshore wind is not far behind with costs having fallen over 60% in three years. It’s now getting easier and cheaper to integrate wind power into the energy system. As a local resource, wind also means much less money spent on fossil fuel imports. And of course it means less CO2 and cleaner air. From a niche technology, wind energy is now an industrial success story. It’s 260,000 high-skilled jobs in Europe. It’s a €36bn contribution to EU GDP and €8bn worth of European exports. And wind is making an impact also on a more local level. Whether it’s providing local jobs and investment in the supply chain or wind farms contributing taxes to local municipalities, wind energy is having a positive impact in communities across Europe”.

GWEC Secretary General Steve Sawyer said: “Wind power not only provides clean, emission free power, local industry and employment, and attracts both domestic and international investment, it is an industrial lifeline for rural communities around the globe.

“From west Texas to northeast Brazil; from the Cape region of South Africa to coastal Morocco; from Xinjian, Gansu and Inner Mongolia in China to Iowa, Kansas and South Dakota in the US; and across the southern half of India, wind power creates local jobs that give the younger generation an opportunity for good jobs near to home, rather than migrating off to the big city, wherever it may be. The value of building vibrant rural economies cannot be measured only in numbers, but through the social cohesion and strengthened communities they bring in a world sorely lacking in both.”

This year WindEurope and GWEC launched a global photo competition to capture the power of wind in the run up to Global Wind Day.  Click here to see the winners for all three categories (local impact, boosting economies and visionary wind).

Note to Editors

Global Wind Day is a worldwide event that occurs annually on 15 June. It is a day for discovering wind energy, its power and the possibilities it holds to reshape our energy systems, decarbonise our economies and boost jobs and growth.

Global Wind Day is a coordinated action between WindEurope and the Global Wind Energy Council (GWEC) and the national associations to introduce the general public to wind energy through a series of activities. In the run-up to 15 June, hundreds of public events will be held all over the world from family outings and wind farm visits to seminars with experts and leading industry figures.

Visit website

Wind Business Intelligence

The Global Wind Energy Council (GWEC) opened its first ever wind power conference in Vietnam today, gathering leading national and international industry players to discuss the development of the sector with government. Vietnam has some of the richest wind resources in Southeast Asia; however, Vietnam’s wind market is still in the early stages with a total capacity of only 197MW. GWEC and its partners also issued an industry statement today focusing on recommendations to address some of the key barriers to unlocking Vietnam’s rich wind energy potential.

Join Elbia Gannoum, CEO of ABEEolica (Brazilian Wind Association), and Steve Sawyer, Secretary General of Global Wind Energy Council, for our ‘Doing Business In … Brazil’ webcast on Thursday 21 June at 15h CEST.

Brazil is ranked 8th globally in terms of installed wind capacity. Over 2 GW of wind energy was added in 2017, across 79 new wind farms. This brought the total at the end of 2017 to 12.77 GW of installed capacity across 508 wind farms, or 8.1% of the nation’s energy grid. As of June 2018, Brazil has more than 520 wind farms and more than 13 GW of installed wind capacity.

The A-4 and A-6 Auctions which were held in December 2017 contracted a total of 1.45 GW of wind energy, representing an investment of more than US$ 2.5 billion. US$ 3.57 billion were invested in wind power in 2017 in Brazil which represented 58% of the total invested in all renewable sources.

2017 was a good year for wind energy in Brazil, not only because of new facilities and increased generation, but also because of the resumption of the auctions. Since the industry had faced two years without an auction, there was a significant idle capacity in the industry. So the contracts signed in December were essential to ensuring the survival of the entire supply chain, which is critical given that 80% of the chain is supplied domestically, creating additional jobs and income for Brazil.

During this webcast, Steve Sawyer, Secretary General, Global Wind Energy Council, will provide an update on the global wind markets. Elbia Gannoum, CEO of the Brazilian Wind Energy Association, ABEEolica, will provide an overview of the status of the Brazilian market and will talk about what challenges lay ahead for the wind sector.

The audience will hear about:

  • challenges in demand
  • what to expect from the next auctions
  • the financing landscape and prices

About the speakers

Steve Sawyer
Secretary General , GWEC (Global Wind Energy Council).

Steve Sawyer, Secretary-General of GWEC, has worked in the energy and environment field since 1978, with a particular focus on climate change and renewable energy since 1988. He spent many years working for Greenpeace International, representing the organization at intergovernmental and industry fora primarily on energy and climate issues. At GWEC he is focused on working with intergovernmental organisations such as the UNFCCC, IPCC, IRENA, IEA, IFC and ADB to ensure that wind power takes its rightful place in the energy options for the future; and with opening up new markets for the industry worldwide.

Elbia Gannoum
CEO of ABEEólica (Brazilian Wind Energy Association)

Economist, PhD – With an academic background, Elbia is specialized in Regulation and Electricity Markets, having written her Master and Doctoral Thesis on this subject, and has published over thirty articles about the electricity sector. She has been working in the energy sector for more than 15 years. She has been the Executive President of ABEEÓLICA since September 2011.

She started her career as Advisor at ANEEL (2000), and worked in the Ministry of Finance (2001-2002), Ministry of Mines and Energy (2003-2006). She was a Member of the Board of CCEE – Câmara de Comercialização de Energia Elétrica (Electrical Energy Chamber of Commerce) from June 2006 to April 2011.

In 2014, Elbia was elected by Recharge’s Renewable Thought Leaders Club, as one of the most influential professionals in the global scenario of renewable energy.

Register here for the webcast.

7 June, Hanoi – The Global Wind Energy Council (GWEC) opened its first ever wind power conference in Vietnam today, gathering leading national and international industry players to discuss the development of the sector with government. Vietnam has some of the richest wind resources in Southeast Asia; however, Vietnam’s wind market is still in the early stages with a total capacity of only 197MW. GWEC and its partners also issued an industry statement today focusing on recommendations to address some of the key barriers to unlocking Vietnam’s rich wind energy potential.

“We’re here to help Vietnam realise the many benefits from developing its wind power sector: clean, affordable power for economic development; enhanced energy security; and the creation of leading edge technology and jobs”, said Steve Sawyer, GWEC Secretary General.

The socio-economic benefits of wind power development are gaining prominence as a key driver for developing the sector in a growing number of countries. Apart from the direct economic benefits, jobs and industrial development, wind energy has an important role to play in cutting air pollution and reducing greenhouse gas emissions.   

Wind power is one of the fastest growing industries in the world. In 2017 alone $107 billion were invested in wind power globally, and the industry now employs more than 1.15 million people worldwide. Wind power is the technology of choice for utilities in an increasing number of markets, as it is very often the least-cost option for new power capacity in a rapidly increasing number of markets. In 2017, unsubsidised new renewable power was cheaper than fossil fuels in over 30 countries, and by 2025 that will be the case in most countries around the world. Wind power has become a major driver for a sustainable energy future.

While Vietnam has a solid national energy policy and realistic targets, work still needs to be done to improve the effectiveness and transparency of the market rules as well as the procurement process. GWEC is confident that working with government on some regulatory issues, the wind power sector in Vietnam can take-off, providing major economic and environmental benefits, as well as making Vietnam an attractive investment destination for international institutions and investors.

The event is organised in partnership with the Ministry of Industry and Trade (MoIT), the Embassy of Denmark, the Embassy of Germany and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.


About GWEC

The Global Wind Energy Council (GWEC) is the global trade association representing the wind industry. GWEC works at the highest international political level to create a better policy environment for wind power. GWEC’s mission is to ensure that wind power establishes itself as the answer to today’s energy challenges, providing substantial environmental and economic benefits. For more information: www.gwec.net  

For more information, please contact:

Lauha Fried

Communications Director, GWEC

[email protected]

Tel. +32 477 364251

Together with the entire Product Development team, the Senvion Patent Department is constantly looking for innovative approaches that will make Senvion and the wind industry better, cheaper or more adaptable in the future. In this case, the Senvion colleagues have jointly managed to find a patent solution for sound emissions from the turbines in the truest sense of the word. The “Hamburger Wirtschaft” magazine has taken a close look at the innovation:

Senvion has developed an innovative procedure for reducing the operating noise of wind turbines. The innovation and patent center has selected it as ‘Patent of the Month.’

Wherever wind turbines are installed, one topic generally arises sooner or later: are the turbines too loud?

It is a fact that roughly one third of German gross electricity consumption is currently covered by renewable energy sources. In 2016, wind energy usage in particular was further expanded in Germany. According to the register of installations of the German Bundesnetzagentur for Electricity, Gas, Telecommunications, Post and Railway, new onshore wind turbines with a total power of 4,402 megawatts were commissioned. This represents a 10 percent increase on the previous year. One of the manufacturers of wind turbines is Senvion GmbH (up to 2014: REpower Systems), which has its German headquarters in Hamburg.

Less and less space is available for wind farms. To achieve more power, old turbines are being replaced with new ones and increasingly wind farms are being built closer to residential areas or nature reserves. “The importance of noise protection has increased,” says Ulrike Keltsch, head of the patent department at Senvion. In addition to residents, animals can also be disturbed by the operating noises.

In summer 2015, Senvion's Development department applied for a patent for a procedure that can reduce the sound volume of the wind turbines in operation. The noise emissions of wind turbine generators include broadband noises that form a masking noise. However, narrowband noises may also be audible under certain circumstances; for example they can be caused by a generator or a gearbox of the wind turbine. The invention consists of a noise emission control device for a wind turbine that reduces any noises that may arise by surrounding them with the broadband noises that are more pleasant for humans and animals. This is achieved by means of an active noise source that emits a masking noise in at least one spatial direction in a frequency band around the individual sound frequency.

“This control device is not yet available,” says Keltsch. “Our turbines are quiet enough for the existing wind farm sites.” Senvion's engineers frequently develop their inventions preventatively, looking to the future. However, since the requirements regarding generating volume are in-creasing, the turbines themselves will also increase in size , and Keltsch believes that it is perfectly possible that the invention will come into use. If a customer wants a noise reduction measure, for a new construction or a retrofit, prototypes of the control device would then be in-stalled and tested in an existing wind farm, Keltsch states. “We would probably have to perform two to three correction cycles before the invention is implemented perfectly,” says Keltsch. Then Senvion would talk to the suppliers, clarify the supply chain, order the necessary individual parts, and finally manufacture the product in a small production run. The invention could then be tested in practice, and be ready for operation within four to twelve weeks.

Courtesy Senvion

There is a growing trend in the international wind industry: The technological evolution of wind turbines is moving towards machines with larger rotors to better capture wind at low wind sites. France is fully participating in this movement. At the Lussac-Les-Églises wind farm Senvion completed the installation of six 3.0M122 wind turbines with rotor diameters of 122 meters, as large as the diameter of the famous Ferris wheel “London Eye”.

The wind farm, developed by Quadran Groupe Direct Energie, is located in the French department of Haute Vienne. Guirec Dufour, Construction Director at Quadran states: "Lussac-Les-Églises is a low wind site and the wind turbine 3.0M122, capturing the most energy, allows us to optimize the yield of our project. However the challenge was the transportation of the blades to the site. The Blade Lifter solution, proposed by Senvion, made this project possible.”

Each blade is measured at 60 meters and weighs 15 tons. The blades were transported over a distance of 200 kilometers, from the port of La Rochelle to Poitiers, where a transshipment area was used to equip the Blade Lifter. From there the transport went on the challenging route to Lussac-Les-Églises.

Florian Dufresne, Senvion Europe South West Logistics Coordinator explains: "The only possible route for the convoy was to cross the village of Lussac-Les-Églises. However, the total length of the semi-trailer carrying the blade, is 66 meters. With such a ground length, it is impossible to turn in the many tight corners of the village. Facing this challenge, we opted for an innovative solution: The Blade Lifter. By lifting the blade to a 30 degrees angle, the ground length could be reduced to 17 meters, which allowed the safe passage of the convoy."

Technically, the Blade Lifter can lift the blade to 50 degree angles for the passage of even longer blades. The residents of the town were impressed by the technical prowess of this equipment. Guirec Dufour adds: “Thanks to a close collaboration between the Quadran and Senvion teams, the particularities related to the use of the Blade Lifter - transshipment location, moving telecommunications and power lines, pruning - were efficiently managed. This good collaboration limited the impact of the oversized transportation on the village residents and made the commissioning of the wind farm possible without any delay.”

Installing a 122-meter rotor at 89 meters height was also a challenge. The excellent coordination of the teams, a precise planning, while integrating the environment constraints and the uncertainties of the weather conditions, were essential to successfully install the six wind turbines with such a large dimension. Samson Lecluyse, Senvion Europe South-West Project Manager states: "The construction of the Lussac-Les-Eglises wind farm was an exciting project. The complexity for this wind farm lies in the environment with high wooded obstacles, which is close to the lifting zones. Due to the very large dimension of the components, the Senvion team had to prepare the ground with a maximum of rigor and precision so that the project is realized within the deadlines defined in the planning."

The Senvion team is proud to have met all the delivery and installation challenges of this project. The Lussac-Les-Églises wind farm, with a total capacity of 15 megawatts (MW) was commissioned beginning of November 2017. It will produce enough electricity to power nearly 15,000 people (including heating) in France.

Senvion is now ready to meet other challenges, including the transport of wind turbines with even longer blades: the newly announced Senvion turbine 3.7M144 EBC has blades over 70 meters long!

Courtesy Senvion

At the Ria Blades production plant, rotor blades with a length of 74 meters are now manufactured. A completely new production process was designed for this purpose. In line with the continuous improvement approach of the production processes, an efficient robot was developed in cross-functional collaboration.

One of the most photographed monuments in Portugal is located in Lisbon at the mouth of the river Tejo in the Atlantic. The "Padrão dos Descobrimentos", a 56 meter high sailing vessel made of stone and concrete, is dedicated to sailors and explorers. The monumental mosaic of a compass is adorned on the ground in front of the monument. Wind has always been a mainstay of development in the coastal state at the south-west corner of Europe. The wind, which the Portuguese explorers capitalized on more than half a thousand years ago, is now also used by Senvion.

250 kilometers north of Padrão dos Descobrimentos, in the industrial region of Aveiro, Senvion can be found in the town of Vagos. Here, Ria Blades is located on an area of 83,000 square meters where currently 1300 colleagues are employed.

Francisco Mira, Process Engineer at Ria Blades, stands in the plant's largest manufacturing facility: "To make rotor blades of this enormous size, we had to greatly expand the site and completely redesign the manufacturing process. The concept then arose with the cooperation of different departments - production, maintenance and HSE (Health, Safety & Environment). But the close collaboration with our suppliers and partners was also essential. This was a real team effort and I am proud that we have worked hand in hand to find the best solution in the end."

At the center of the manufacturing process are two semi-automated processes. On the one hand, the stacking of the fiberglass layers of some rotor blade components. So far this process has been carried out manually in a time-consuming manner, since the positioning of the different layers required the highest precision. In Portugal, RodPack technology is used which has much better material properties than conventional glass fibers and opens up new production possibilities. Thus, in the new process, each fiberglass layer is precisely set in the right place effortlessly by the equipment. Francisco Mira explains, "RodPack was the reason why we completely changed this process." The result is that there are considerably fewer shifts and working hours needed to complete the rotor blade.

The second process is now almost completely taken over by an equipment that sands the rotor blades before painting. While the rotor blades were previously sanded with a 35 kilogram sanding machine, which had to be operated by two people, 90 percent of this work is now done by robots, which are monitored by a colleague.

"Both processes, the semi-automatic fiberglass lay-up and the sanding process are thus much faster, more efficient and physically less strenuous. What is clear with Mira, however, is that "humans are responsible for decisions and will remain indispensable. A machine remains a machine.

Originally, Francisco Mira comes from the automotive industry. Since 2015 he has been with Ria Blades. "A lot of things in the organization and the way of thinking reminds me of my previous work: precision, flexibility, lean production concepts or high quality requirements. But we are trying to absorb the experience from very different branches of industry and make it usable for us. In particular, it is decisive for us to have the ability to think 'out of the box'. This is the only way to revolutionize the manufacturing process."

Courtesy Senvion

AMSTERDAM, November 28, 2017 -- The World Bank and the Technical University of Denmark (DTU) today launched new Global Wind Atlas, a free web-based tool to help policymakers and investors identify promising areas for wind power generation, virtually anywhere in the world. 

The Global Wind Atlas is expected to help governments save millions of dollars by avoiding the need for early-stage, national-level wind mapping. It will also provide commercial developers with an easily accessible platform to compare resource potential between areas in one region or across countries.

The new tool is based on the latest modeling technologies, which combine wind climate data with high-resolution terrain information—factors that can influence the wind, such as hills or valleys—and provides wind climate data at a 1km scale. This yields more reliable information on wind potential. The tool also provides access to high-resolution global and regional maps and geographic information system (GIS) data, enabling users to print poster maps and utilize the data in other applications.

The Global Wind Atlas was unveiled at an event at the Wind Europe Conference in Amsterdam, following the successful launch of the Global Solar Atlas earlier in the year.

Solar and wind are proving to be the cleanest, least-cost options for power generation in many countries. These tools will help governments assess their resource potential and understand how solar and wind can fit into their energy mix. An example of how good data can help boost renewable energy is Vietnam where solar maps from the Global Solar Atlas laid the groundwork for the installation of five solar measurement stations across the country.

“There is great scope in many countries for the clean, low-cost power that wind provides, but they have been hampered by a lack of good data,” said Riccardo Puliti, Senior Director and Head of the World Bank’s Energy & Extractives Global Practice. “By providing high quality resource data at such a detailed level for free, we hope to mobilize more private investment for accelerating the scale-up of technologies like wind to meet urgent energy needs.”

The work was funded by the Energy Sector Management Assistance Program(ESMAP), a multi-donor trust fund administered by the World Bank, in close partnership with DTU Wind Energy.

“The partnership between DTU Wind Energy and the World Bank allows us to reach a broader audience, especially in developing countries while remaining at the forefront of wind energy research. We are excited by the scientific advances that the new Global Wind Atlas incorporates, and look forward to seeing how this data can enable countries to advance wind projects,” said Peter Hauge Madsen, Head of DTU Wind Energy.

While the data powering the Global Wind Atlas is the most recent and most accurate currently available, it is not fully validated in many developing countries due to the lack of ground-based measurement data from high precision meteorology masts and LiDARs. ESMAP has funded a series of World Bank projects over the last four years to help fill this gap, with wind measurement campaigns under implementation in Bangladesh, Ethiopia, Nepal, Malawi, Maldives, Pakistan, Papua New Guinea, and Zambia. All measurement data is published via https://energydata.info, a World Bank Group data sharing platform.

Courtesy The World Bank


On May 16, 2017, the state of California set a new record—that day, it generated 42% of its electricity from wind and solar, and peaked at 72% that afternoon. In addition to this wind power record, wind farms by themselves accounted for 18% of the state’s needs. But renewable energy’s popularity doesn’t just extend to California. According to the Global Wind Energy Council, the total generating capacity of wind farms around the world is now greater than all of the world’s nuclear power plants combined.

So what’s driving this growth? One answer is innovation. The “levelized cost of electricity” (LCOE)—a key number that measures electricity’s costs—has fallen 58% over the past six years. Additionally, the use of  wind turbine management software—like GE’s Predix—has let operators run their wind farms more efficiently, lowering maintenance costs and saving money. In fact, GE estimates that by deploying its Digital Wind Farm solutions and wind turbine software, the wind industry could save as much as $10 billion a year. One thing’s for sure: with 30,000 GE wind turbines deployed across the globe and capable of generating more than 57 GW of electricity, wind energy isn’t going anywhere.

Learn more about GE’s wind power software and Digital Wind Farms by contacting us today.

Read the full story at https://www.ge.com/reports/wind-blows-innovation-dropping-costs-drive-renewables-growth/

Courtesy GE Renewable Energy

ENERCON is developing two new types of converter for its 3 megawatt platform (EP3). E-126 EP3 and E-138 EP3 are designed for sites with moderate and low winds respectively, and are scheduled to go into production in late 2018 and late 2019. As well as promising much improved performance and efficiency, the two new converters will benefit from optimised processes for production, transport and logistics, and installation. ENERCON will be introducing the two converter types for the first time at the Brazil Windpower event in Rio de Janeiro (29 to 31 August).

The machines are ENERCON’s response to new challenges facing converter technology in the important 3 MW segment. “We are increasing overall performance significantly”, says Arno Hildebrand, Director of System Engineering at ENERCON’s research and development arm, WRD. The greater efficiency will come mainly from an increase in swept area and in nominal power. The E-126 EP3 will have a rotor diameter of 127 metres and a nominal power of 3.5 MW, and is being designed for sites with moderate wind conditions in Class IIA (IEC). The E-138 EP3 will also have a nominal power of 3.5 MW, but with a rotor diameter of 138 metres it is intended for use at low-wind sites in Class IIIA (IEC).

“At sites with moderate wind speeds of 8.0 m/s at hub height, the yield of the new E-126 EP3 will therefore be more than 13 percent higher than that of our existing E-115 model”, says Hildebrand. Annual energy yields of more than 14.5 million kilowatt hours (kWh) are forecast for a typical Wind Class IIA site with speeds of 8.0 m/s at a hub height of 135 metres. As for the E-138 EP3 – a completely new type of converter, and the first low-wind turbine to feature in ENERCON’s EP3 portfolio – the developers calculate that, at a typical low-wind site with average speeds of 7.0 m/s at a hub height of 131 metres, annual energy yields in excess of 13.2 million kWh can be achieved.

Not only that, but the two converter types will be consistently streamlined for efficiency. Every single process – from production to transport and logistics, installation and commissioning – will be optimised. The E-126 EP3 and E-138 EP3 will be available with a choice of hybrid or tubular steel towers with hub heights of between 81 and 160 metres. Installation of the E-126 EP3 prototype is scheduled for as early as the third quarter of 2018; it will enter series production later that year. ENERCON plans to erect the E-138 EP3 prototype in the fourth quarter of 2018, then introduce a few pre-series machines in 2019 before full production begins towards the end of 2019.

Courtesy ENERCON

Top Stories

Grid List

In Conversation with, Mr. Narayan Kumar, Development Director, Acciona Wind Power India


1.What is current installed capacity of your company and how has been your journey so far?

ACCIONA is one of the foremost Spanish business corporations with a global footprint. We are leaders in development and management of infrastructure, renewable energy, water and services.

ACCIONA's has been in India for close to a decade, with primary presence in renewable energy. ACCIONA was the first Spanish company to install and operate a wind farm in India. We have operating wind farms with a capacity of around 175 MW.

2.What is your current order book position and what are the projects that you are currently bidding for?

Acciona India is an Independent Power Producer. Unlike Original Equipment Manufacturers (OEMs), we don’t maintain an order book. We are focused on development of both solar and wind energy investments in India.  Currently we are evaluating opportunities at both the national level as well as in different states to participate in auctions for both PV and wind space.

3.What is the impact of Reverse bidding on the wind energy sector?

Wind energy sector in India is at cross roads because of introduction of reverse bidding since February 2017. It would have been ideal if the industry had been provided with a 12-15 month period for transition from feed-in-tariffs to competitive based reverse bidding. Now that the reverse bidding has been introduced, this has created a sense of uncertainty in the industry and is bound to affect capacity addition for 15-18 months. We need to evaluate the sustainability of tariffs of around INR 3.40 – Rs 3.50 / kWh.

It’s interesting to see how future bids will play out since we are reading reports about one of the winning bidders from the Feb 2017 auction already backing out from its commitments. We have also witnessed the same trend in the PV space as well. There is perhaps the need for the industry to think through their bid strategy and evaluate pricing on rational, sustainable, long-term basis.

4.What are your growth plans for the next couple of years?

Acciona India has aggressive plans to increase our footprint in both wind and PV. It would be difficult to share specific numbers at this time. We are evaluating several greenfield as well as brownfield growth opportunities. We are long-term investors and are guided by the sustainability of returns. 

5.Would you like to add anything else about wind sector?

When India’s first ever auction of wind projects worth 1 GW capacity early this year threw up record low tariffs, none of realised that it would become a flashpoint for the resentment of power distribution companies (discoms) against generators in the days ahead. But that is exactly what we are seeing today.

Discoms have stopped signing power purchase agreements (PPAs) with wind power generators, leaving a big question mark hanging over the future of 3 GW of assets underconstruction. If the logjam is not broken soon, the government’s renewable power capacity addition could get off track, compromising effortsto rein in emissions and fight climate change.

Discoms believe that they were paying very high tariffs to IPPs and are reneging on their signed commitments. Discoms’ refusal to sign PPAs has forced the Centre to intervene and asked for signed commitments to be honoured. Such blatant change of tack has serious repercussions on the country’s renewable energy programme as well as India’s perception with global investors. The Ministry of New and Renewable Energy (MNRE) has already cautioned discoms that if PPAs are not signed, there would be no further wind capacity addition either in 2017-18or 2018-19.

Even if wind auctionsrestart at this stage as is widely envisaged, the projects would be commissioned only over the next 15 to 18 months.In such a case there would be no wind capacity addition in 2017-18 and a major part of 2018-19. This would mean that most atates would not be able to meet their non-solar RPO obligations.

This would also throw a spanner in the plans of OEMs who have made large investments in capacity as well as inventory. They will go through a difficult phase on this account, though this is expected to be temporary.

Re-Powering – A growthopportunity

Repowering is something which needs to be absolutely encouraged. Vintage turbines occupy some of the best wind sites across India. Policies or guidelines may require changes as we have not made a big headway into repowering.

Again it’s perhaps premature to comment as there are issues like existing substation capacity, current PPAs, disposal of old turbines and current owners of land who are reluctant to give up their land etc.

Power being a concurrent subject; it’s possible to have a state repowering policy. The bottom line is, repowering can bring in about a capacity addition on an estimate of 1 GW every year for the next 2-3 years. This can possibly increase if grid connectivity and substation capacity can be augmented.

The World Bank and the Technical University of Denmark today launched new Global Wind Atlas, a free web-based tool to help policymakers and investors identify promising areas for wind power generation, virtually anywhere in the world.

The Global Wind Atlas is expected to help governments save millions of dollars by avoiding the need for early-stage, national-level wind mapping. It will also provide commercial developers with an easily accessible platform to compare resource potential between areas in one region or across countries.