First published in Quoted Cleantech, September 2010. Copyright Cleantech Investor Ltd. 2010
Stockmarkets had another jittery month during August, which as usual had a disproportionate effect on cleantech stocks as investors retreated to perceived safer assets.
After July saw double-digit gains for five of the cleantech indices that we track, all eight indices fell back during August. However, the Ardour Solar Energy Index held on to most of its gains from the previous month, falling just 0.8% after having increased almost 16% in July.
Firms such as LDK Solar, a China-based manufacturer of solar modules that is quoted on the New York Stock Exchange, and GT Solar, a NASDAQ-listed solar silicon manufacturer, have posted strong quarterly figures over the summer.
Although the WilderHill New Energy Global Innovation Index (down 5.85%) also managed to retain almost half the gains it made in July, the other six indices all saw falls in August that wiped out gains made during the previous month.
Clearly, these are still nervous times for cleantech investors. But news from companies like Germany’s Centrotherm Photovoltaics, which says that its customers are continuing to make substantial increases to their investments in solar manufacturing plants and equipment (see page 3), suggest good times ahead in the solar sector at least.
Cleantech Indices | Value end Dec-09 | Jul-10 | Aug-10 | % change August (month) | % change ytd. |
Ardour Global Alternative Energy Index (AGIGL) | 1934,96 | 1635,92 | 1483,76 | -9,30% | -23,32% |
Ardour Solar Energy Index (SOLRX) | 2229,6 | 1589,43 | 1576,23 | -0,83% | -29,30% |
Deutsche Bourse ÖkoDAX | 314,23 | 266,12 | 238,23 | -10,48% | -24,19% |
FTSE ET50 Index | 164,4 | 146,08 | 132,82 | -9,08% | -19,21% |
Renewable Energy Industrial Index (RENIXX) | 749,25 | 604,89 | 569,54 | -5,84% | -23,99% |
Nasdaq Clean Edge Green Energy Index (CELS) | 211,7 | 195,74 | 178,03 | -9,05% | -15,90% |
WilderHill New Energy Global Innovation Index (NEX) | 248,68 | 200,01 | 188,3 | -5,85% | -24,28% |
WilderHill Clean Energy Index (ECO) | 111,35 | 92,82 | 86,52 | -6,79% | -22,30% |
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