Environment News
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Clean energy stocks are approaching a floor after European austerity measures and cheap U.S. natural- gas pushed wind and solar companies lower, Impax Asset Management Ltd. said.
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ReneSola Ltd. has begun producing its own steel wire for slicing solar wafers and expects to handle 8,400 metric tons a year of output by the end of 2011, the Chinese company said today in a statement. The company expects significant savings compared with buying the wire from outside suppliers, it said. ReneSola also said it has developed a new generation of G6 casting furnaces with a capacity of 650 kilograms and annual output of 8 megawatts, compared with about 6 megawatts for its curent ovens.
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First Solar Inc., the world’s biggest maker of thin-film solar modules, said second-quarter profit fell more than analysts expected as panel prices slumped. The shares sank 5.3 percent in after-hours trading.
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Suzlon Energy Ltd., Asia’s third- biggest wind-turbine maker, fell the most in almost six months in Mumbai trading after receiving a $490,000 fine for pollution violations at its plant in Minnesota.
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