This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Green Energy CEO Q&A: Broadwind Energy

In 2010, when the U.S. wind industry bottomed out, China finally surpassed the U.S. as the world's largest wind power market. If there's been a slight turnaround in the U.S., it's off the trough. Why should any investor believe the U.S. wind market will recover? Is China the only market where the use of wind energy is growing, and are you targeting that opportunity?

There is a place for wind power in the U.S., and most people agree, but we don't have the policies in place. We need energy policy in this country, and that's not just for wind. That's one role the government needs to play. Setting long-term energy policy is the number one challenge right now for the renewable space.

As far China, our focus right now is to diversify our customer base to the industrial sector, not outside of North America. We are growing our industrial base as mining companies and oil and gas companies are growing globally. As they grow internationally we are supplying them and growing right along with them.

For a company that was just a year ago a pure-play wind company focused on the green energy opportunity, won't it upset some "green" investors that you are banking our future on business from mining and oil and gas companies?

I think first and foremost we are an energy company. We do have some industrial customers and we are going to offer products and solutions to industries that demand products. Precision gearing is in demand in oil and gas and we will take advantage of that opportunity. I think investors would like to see more diversification in Broadwind. We can't be too reliant on government policy to drive the wind energy industry.

There's a lot of focus on offshore wind opportunity, even if the terrestrial wind market has slowed. Is this a major opportunity for the U.S. wind market to grow?

There's a lot of talk about offshore, but other than Cape Wind, I don't see lots of projects moving through the permitting process, and that could take a long time. Projects on shore remain fairly challenged by competition with fossil fuels and offshore wind could be two to three times the cost of terrestrial wind projects.

Is the low price of natural gas the biggest challenge wind energy faces?

That is one of the biggest challenges the industry faces. But look at the recent article in The New York Times over the weekend, questioning if people understand the cost of natural gas extraction, and how much gas is actually locked up in the shale play. That debate will continue, but fairly low natural gas prices will be challenging.

-- Written by Eric Rosenbaum from New York.


>To contact the writer of this article, click here: Eric Rosenbaum.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BWEN $3.38 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs