Stockpsychic.....I bought in in the low 14s.....Almost pulled the trigger a few times myself. Wrestling with myself to unload half my position because of the run but I haven't yet......getting a bit greedy I guess. Saw a huge order for GE last week for wind turbines etc., these guys are the ones that support GE with gear boxes for the turbines and the actual structures. I guess that is why I am still sticking around, want to see how much of those Billions that are being thrown around actually make it here. Today a Spanish Company said it will be pumping anopther $8 billion in the next 3 years into the US for more wind farms.Here is the story.
Spanish utility to invest $8 billion in U.S.
Iberdrola sees potential in U.S. market for wind power
By MarketWatch
Last update: 2:26 a.m. EDT May 19, 2008Print E-mail RSS Disable Live Quotes
Fixes the story to reflect that Iberdrola is publicly traded.
WASHINGTON (MarketWatch) -- Iberdrola said Sunday it plans to invest $8 billion in the U.S. over the next three years in renewable energy such as wind power, marking the Spanish utility's latest effort to increase its presence in the American market.
The company has been expanding aggressively in alternative energies and sees the U.S., with its huge appetite for power and big swaths of flat, windy terrain, as one of the most promising markets.
Iberdrola (ES:0144580Y1: news, chart, profile) is the world's largest developer of wind farms and it already owns wind farms in New York state, California and Oregon, with construction underway in several other states in the Plains and Great Lakes.
The company said it wants to obtain about a 15% share of the U.S. market for wind power by 2010. Although wind power contributes only a tiny portion of the electricity generated each year in the U.S., the percentage is growing as oil prices rise and companies search for cheaper and cleaner alternative sources of energy.
In some places, however, residents have objected to the presence of tall wind turbines, though experts say there are plenty of places where the turbines can be installed far from populous areas.
