Rare Earth Required for Wind Turbines
FAN Wind-power stocks may be in focus on report that China may allocate 30% of alternative energy spend on wind power (10.32 +0.13)
Last night Bloomberg ran an article discussing reports that China may allocate 30% of alternative energy spend on wind power. We'd note that BWEN is up +19.7% today (with no other news out), while APWR and AMSC are each up ~0.9%. WPCS, which was recently selected by Meskwaki Nation for wind energy project, is up +1.2%. The wind ETF (FAN) is +1.0%. APWR ran up 14% yesterday on rumors of a Chinese contract, and today announced the delivery of one prototype 2.05MW wind turbine generator set at its factory in Shenyang, Liaoning Province, China. Finally, we'd also note that China Ming Yang Wind Power Group (ticker MY), is a Chinese wind power company that will IPO this week, potentially drawing further interest to the sector.