Google has announced a $100 million investment in the $2 billion Shepherds Flat wind farm project in Oregon. This follows an earlier investment of $168 million in a concentrated thermal solar project being built by BrightSource Energy in southern California and two other projects, one wind and one solar. Altogether, Google has invested more than $350 million in renewable power generation.

The Shepherds Flat project, the world’s largest wind farm at 845 megawatts, has signed a power purchase agreement with Southern California Edison, a division of Edison International (NYSE: EIX). The developer, Caithness Energy, will use a total of 338 2.5-megawatt turbines supplied by General Electric Co. (NYSE: GE).

Google’s investments are intended to provide a financial return to the internet search giant. The investments are not a feel-good gesture. A wind farm can generate electricity at a cost as low as $0.06/kWh. That same kilowatt-hour sold in southern California can fetch $0.15 or more. That’s a pretty nice return, and that return is what Google is after. At some point, Google may be able to buy power from one of the plants it has invested in, driving down the company’s cost of electricity, which is its second highest expense after staff.

The US Department of Energy has approved a $2.1 billion loan guarantee for Solar Trust of America LLC, which is building the world’s largest solar thermal plant in the southern California desert near the city of Blythe. The plant will eventually generate 1,000 megawatts and Solar Trust has already signed a power purchase agreement Southern California Edison.

The loan guarantee will help build the first two of four planned units at the Blythe project, and is the largest loan made by the DoE. The department has guaranteed more than $21 billion in loans to clean energy projects, and is trying to speed through more applications before the end of the current federal fiscal year, when federal budget cuts threaten to end the program.

Fuel Systems Solutions, Inc. (NASDAQ: FSYS) has completed its $6 million acquisition of NaturalDrive Partners LLC, which was announced earlier this month. Fuel Systems designs, makes, and sells components and systems for gas-powered vehicles. NaturalDrive worked with Fuel Systems on a gas-powered van based on General Motors Co. (NYSE: GM) vehicle, and the acquisition should help Fuel Systems take advantage of the growing interest in natural-gas powered vehicles. Fuel Systems stock is down about -2% today, at $27.41, near the low end of its 52-week range of $23.10-$42.65.

Another clean-tech fuel company, Rentech, Inc. (AMEX: RTK) has acquired a majority stake in ClearFuels Technology Inc., a company in which Rentech already owned a 25% stake. ClearFuels is developing biomass-to-energy projects that would convert sugar cane bagasse to biodiesel. The company also hopes to convert biomass, including cellulosic, feedstock into synthetic jet fuel.

Rentech and ClearFuels already jointly operated a bio-refinery project that received a $23 million federal grant to fund part of a demonstration-scale gasifier. The biofuels business has not been kind to companies trying to get to commercial scale. Many, like Amyris Inc. (NASDAQ: AMRS), Codexis Inc. (NASDAQ: CDXS), and FutureFuel Corp. (NASDAQ: FTFL) have had to diversify into cosmetics and other products to stay afloat.

Rentech shares are up about 0.5% at around noon today, to $1.16, within the 52-week range of $0.69-$1.48.

Finally, in a story related to yesterday’s look at solar equipment makers, Taiwan Semiconductor Manufacturing Co. has just purchased about $100 million worth of equipment from three suppliers, including Applied Materials Inc. (NASDAQ: AMAT) and Lam Research Corp. (NASDAQ: LRCX). Applied Materials took about half the total.

Paul Ausick

Westport Innovations Inc. (NASDAQ: WPRT) was first on the overbought list with 88 RSI and 39% from its 200 day moving average.

Clean Energy Fuels Corporation (NASDAQ: CLNE) was in the middle of the overbought list with a 77.5 RSI and 18% from its 200 day moving average.  Fuel Systems Solutions, Inc. (NASDAQ: FSYS) was also noted as one that won’t benefit that much from legislative gains in fuels.

What is interesting is that BofA said it was increasing its Wind sector to equal-weight but continues to avoid the turbine makers.  After what we saw with American Superconductor Corporation (NASDAQ: AMSC) this week (AMSC-Sinovel pact noted as huge concern) it is hard to wonder how wind was positive at all.

SmartGrid stocks were lowered to equal-weight with a 13% decline in the first quarter.  Companies like Cree Inc. (NASDAQ: CREE), Itron, Inc. (NASDAQ: ITRI), and even EnerNOC, Inc. (NASDAQ: ENOC) were all noted as seeing most of the damage being done but with no quick snapback for most.  LED and meter-demand is called “lumpy, but rising through time.”

Storage is actually looked at somewhat favorably.  A123 Systems, Inc. (NASDAQ: AONE) and Ener1, Inc. (NASDAQ: HEV) are both being called oversold and it was noted as surprising that  higher oil prices have not helped.

BofA is one of many firms which have mixed views on CleanTech ahead.  The moves in March from Japan have likely contributed to even more of the confusion on top of the recent gains in oil due to Middle East turmoil and supply disruptions.

JON C. OGG

Alexander & Baldwin (NASDAQ: ALEX) Raised to Market Perform at Wells Fargo.
Baidu Inc. (NASDAQ: BIDU) Cut to Neutral at Mizuho (overseas).
CenterPoint Energy Inc. (NYSE: CNP) Reiterated Buy with $20 target at Argus.
DCP Midstream Partners, LP (NYSE: DPM) Started as Outperform and $45 target at Credit Suisse.
Fuel Systems Solutions, Inc. (NASDAQ: FSYS) Reiterated Underperform at BofA/ML.
Goldman Sachs Group Inc. (NYSE: GS) lowered estimates but maintained $190 price target by Credit Suisse.
Las Vegas Sands Corp. (NYSE: LVS) Raised to Buy at Stifel Nicolaus.
Morgan Stanley (NYSE: MS) Added to Focus List at Credit Suisse.
Mosaic Co. (NYSE: MOS) Cut to Sector Perform at Scotia.
Red Hat Inc. (NYSE: RHT) Reiterated Buy and target raised to $57 at BofA/ML.
Sempra Energy (NYSE: SRE) Reiterated Buy with $61 target at Argus.
StanCorp Financial (NYSE: SFG) Cut to Underperform as Bear of the Day at Zacks.
STR Holdings, Inc. (NASDAQ: STRI) Cut to Sell at Auriga.
Tractor Supply Company (NASDAQ: TSCO) Reiterated Buy and raised target to $65 at BofA/ML.
Urban Outfitters Inc. (NASDAQ: URBN) Maintained Buy with $40 target at BofA/ML.
Whole Foods Market, Inc. (NASDAQ: WFMI) Reiterated Outperform as Bull of the Day at Zacks. 

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more. 

JON C. OGG

DryShips Inc. (NASDAQ: DRYS) is up 6% premarket to $6.34 on heavy volume, relative to a 52-week range of $3.28-$6.95. The stock was raised to outperform at Credit Suisse.

Fuel Systems Solutions Inc. (NASDAQ: FSYS) is down 5.6% to $29.90 after announcing the offering of 2 million shares of public stock. FSYS is trading within a range of $24.50-$51.94.

Netflix Inc. (NASDAQ: NFLX) is up 4% premarket to $198, relative to a 52-week range of $48.52-$29.24. The company was picked to join the S&P 500.

Pacific Biosciences of California (NASDAQ: PACB) is up nearly 14% to $14.80, relative to a 52-week range of $11.25-$17.47. The company recently decoded the cholera pathogen.

ABB Ltd. (NYSE: ABB) Started as Buy at ING.
Advanced Energy Industries, Inc. (NASDAQ: AEIS) Started as Buy at Merriman Curhan Ford.
Crocs, Inc. (NASDAQ: CROX) Reiterated Overweight but target raised to $13 from $9 at Piper Jaffray.
Fuel Systems Solutions, Inc. (NASDAQ: FSYS) Cut to Hold at Canaccord.
Mercadolibre, Inc. (NASDAQ: MELI) Raised to Positive at Susquehanna.
MetroPCS Communications Inc. (NYSE: PCS) Reiterated Buy and Target raised to $11 from $9 at Auriga; Raised to Strong Buy at S&P.
PMI Group Inc. (NYSE: PMI) Raised to Outperform at KBW.
Radian Group Inc. (NYSE: RDN) Raised to Outperform at KBW.
Randgold Resources Ltd. (NASDAQ: GOLD) Cut to Market Weight at Thomas Weisel.
Sequenom Inc. (NASDAQ: SQNM) Reiterated HOLD and $4 target at Auriga.
Universal Health Services (NYSE: UHS) Raised to Outperform at Wells Fargo.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

• ADTRAN (ADTN) Started as Buy at Auriga.
• Alliance Data (ADS) Cut to Neutral at JPMorgan.
• Boeing (BA) Cut to Underperform at Oppenheimer.
• China Life Insurance Co. Ltd. (LFC) Cut to Neutral at Goldman Sachs.
• Deutsche Bank (DB) Raised to Hold from Sell at Citigroup.
• EMC Corp. (EMC) Raised to Overweight at Barclays.
• Freeport-McMoRan Copper & Gold Inc. (FCX) Raised to Outperform at FBR.
• Fuel Systems Solutions (FSYS) Raised to Buy at Janney Montgomery Scott.
• MEMC (WFR) Cut to Underweight at JPMorgan.
• Riverbed Technology (RVBD) Started as Market Perform at FBR.

Jon C. Ogg
June 24, 2009

Energy Conversion Devices, Inc. (NASDAQ: ENER) is touted as the"Low-Cost Commercial Roof Application Targeting Inflection Point InManufacturing Ramp"

• a differentiated play on solar growth… we believe it will continue toenjoy margin improvement and strong revenue growth ahead of solar peers.

First Solar, Inc. (NASDAQ: FSLR) has also seen a brutal year, butAmTech calls it "Cost-Leader with Pricing Cushion, Large EconomicMarkets, and Potential Capacity Expansion"

• the premier PV company given its cost leadership, strategicpositioning, and history of execution… large addressable marketwithout subsidy, we view FSLR as a core solar holding poised for top-and bottom-line growth ahead of solar peers 

Fuel Systems Solutions, Inc. (NASDAQ: FSYS) is "Leadership Position, Strong Fundamentals, Beat and Raise Earnings Outlook"

• Its leading position in systems for gaseous fuel engines (natural gas and propane) is augmented by several competitive advantages and a supportive macro backdrop…revenue guidance once again appears conservative, which supports ourbeat and raise earnings outlook.

Again, these comments are out of American Technology Research and are only partial quotes from in-depth research reports.  You can also see the summaries of the calls we broke out into TECHNOLOGY STOCKS and in INFRASTRUCTURE & DEFENSE.

Jon C. Ogg
October 13, 2008

• Complete Production Services (NYSE: CPX) Raised To Overweight By JP Morgan; shares indicated up 0.5% on thin volume.
• Fuel Systems Solutions (NASDAQ: FSYS) Cut to Neutral from Buy at Broadpoint (alternative fuel for transportation and power generation); shares down 3.5% on downgrade.
• Key Energy Services (NYSE: KEG) Raised ot Outperform at RBC Capital; shares up over 3% so far.
• Pioneer Natural Resources (NYSE: PXD) Raised to Outperform at BMO Capital; shares up 1.8%.
• Statoil Hydro (NYSE: STO) Started as Overweight at Morgan Stanley; Cramer just panned this one as "running out of oil" last night on CNBC’s MAD MONEY; shares up 1.3%.

Jon C. Ogg
June 24, 2008