Wow, Wow, Wow -- If This Story Doesn't Speak Volumes About Future of Wind -- Not a Bakken Story

A Chinese company, Sinovel Wind, contracts with American Superconductor Corp for electrical components for wind turbines. It turns out that Sinovel Wind is AMSC's biggest customer.

Today it is being reported that Sinovel Wind will not accept deliveries of contracted components from AMSC. Sinovel Wind says it needs to reduce its inventory before it can accept its contracted shipments.

[AMSC stock plummeted today, down 45% after the market closed / extended trading hours. AMSC was trading at $25 yesterday; this evening it is down to $14.]

The last paragraph of the story should have been the lede:

China's wind market, which has been a stable source of growth for AMSC for the last few years, is slowing down and is expected to be flat in 2011.

OK, so that's one story. Wind energy is dead in China.

Wind Farm Canceled in North Dakota

That brings me to the second story, which has already been posted. This story made headlines this week:

Xcel will cancel its 150-MW wind farm in southeastern North Dakota following a single e-mail from the US Fish and Wildlife Department.

GE Is Rapidly Diversifying Into Oil and Natural Gas

That brings me to the third story, which has been reported in several posts over the past few months:

GE, a major supplier of wind turbines, is rapidly diversifying into fossil fuel.

Even as the price of oil is hitting new records, countries and companies are moving away from wind.