QUICK NEWS, February 7: BIGGEST U.S. WIND BUILDER BOOMING; $440 MIL FROM U.S. BANCORP TO NEW ENERGY; BIG BUCKS IN BUILDINGS’ ENERGY

BIGGEST U.S. WIND BUILDER BOOMING
NextEra Fourth-Quarter Profit More Than Doubles on Wind Power Output
Benjamin Haas, January 27, 2012 (Bloomberg News)

"NextEra Energy Inc. (NEE), the largest generator of wind and solar power in North America, said fourth- quarter profit more than doubled as its wind turbines produced more electricity.

"Net income rose to $667 million, or $1.59 a share, from $263 million, or 63 cents, a year earlier…Excluding gains from contracts used to lock in commodity prices, per-share profit was 2 cents more than the average of 14 analysts’ estimates..."

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"Sales rose 13 percent to $3.86 billion. Profit more than quadrupled at its wind and solar unit, rising to $402 million from $73 million, the company said. NextEra’s wind farms generated 580,000 more megawatt-hours in the quarter from the same period a year earlier…The company plans to spend as much as $2.3 billion this year and $1.5 billion in 2013 and 2014 on solar development…

"NextEra plans to finish building all its existing wind projects by the end of 2012, before a federal tax credit worth 2.2 cents a kilowatt-hour expires…"


$440 MIL FROM U.S. BANCORP TO NEW ENERGY
US Bancorp to Invest $440 Million in Renewable Energy This Year
February 3, 2012 (SustainableBusiness)

"US Bancorp, the fifth-largest commercial bank in the US says it will invest 30% more in renewable energy projects this year, about $440 million.

"The bank has financed $680 million in solar and wind projects since 2008, and roughly half of that was in 2011…As the renewable energy projects become more profitable, investors are considering them as candidates for asset-backed securities…"

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"Last May, the bank made its largest financing commitment to SunRun to support the purchase of $200 million in residential solar systems. SunRun owns the system and homeowners pay a monthly electricity fee for the solar energy…

"In 2010, Residential solar provider Sungevity formed a partnership with US Bancorp to create a $24 million tax equity fund to finance 10-year solar leases for Sungevity customers in California."


BIG BUCKS IN BUILDINGS’ ENERGY
Revenues for U.S. Energy Service Companies to Reach $13 Billion by 2020
February 2, 2012 (Pike Research)

"While the energy service company (ESCO) industry has been active for approximately 30 years…newer service offerings, such as demand response and energy management software, enabled by intelligent metering and control systems that afford customers greater flexibility and control over their energy usage, are opening new opportunities…[According to] Pike Research, the ESCO market for energy efficiency project installations and services in the United States exceeded $5.1 billion in 2011.

"Driven by public policies that encourage a greater emphasis on energy efficiency to reduce costs and improve operations, this market is expected to continue to grow faster than the domestic economy and reach at least $13 billion in sales by 2020. Under a more aggressive scenario, the ESCO market could reach $16 billion by 2020…"

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"The ESCO market predominantly takes the form of direct contracting between providers of energy efficiency services and equipment and government agencies, public institutions, and commercial customers – typically via performance-based contracts…[T]he federal sector’s appetite for this energy service performance contract model is growing, helping give rise to a market structure dominated by a group of very large companies that specialize in these contracts…

"…At the same time, project sizes are increasing as clients look for more comprehensive technologies and designs to address their energy consumption. Of particular significance for ESCOs is President Obama’s 2009 executive order, which mandates that all federal agencies must achieve a 30% reduction in energy use by 2015…"