PR Newswire
December 12, 2007: 11:00 AM EST
Expert Focuses on Prospects for Companies Advancing Solar, Wind, and Other Clean Energy in Germany, Denmark and Norway
BETHESDA, Md., Dec. 12 /PRNewswire/ -- With rising oil prices, increasing regulatory/legislative constraints on carbon, and growing consumer demand for action, alternative energy companies are likely to experience strong growth in 2008. However, much of the benefit may flow to non-U.S. companies, according to Jens Peers, the Dublin-based portfolio manager of the Calvert Global Alternative Energy Fund (CGAEX). The Fund was launched on May 31, 2007 and is advised by Calvert Asset Management Company, Inc., investment advisor for Calvert, the first family and broadest array of socially and environmentally responsible mutual funds.
In highlighting the prospects of specific non-U.S. and U.S. companies, Jens Peers, head of ECO Investing at Dublin-based KBC Asset Management International Ltd. and lead portfolio manager of the Calvert Global Alternative Energy Fund, said: "Non-U.S. companies and markets will benefit from the improving prospects for alternative energy in 2008 because Europe, Asia and other regions are further along than the U.S in addressing climate change and oil dependency by embracing alternative energy technologies."
Bennett Freeman, Senior Vice President for Social Research and Policy, Calvert, said: "Calvert believes that companies--in all industries--must acknowledge and act now to address the climate change crisis. Global warming is at the forefront of Calvert's company analysis and environmental advocacy. With the Calvert Global Alternative Energy Fund, we are aligning our investment strategies and policy goals by offering our shareowners the opportunity to invest directly in climate change solutions. We are particularly proud that we have been able to do this with a truly global approach to focusing on the best solutions around the world."
Earlier this year, Calvert named KBC Asset Management International Ltd. as sub-advisor to the new fund. KBC's investment professionals have strong expertise in the fast growing, nascent alternative energy sector, a long history in socially responsible investing, and a strong reputation in multi-cap global investing. KBC, which launched one of the first global mutual funds with an alternative energy focus in 2000, has $28 billion in assets under management (Dublin office as of 11/30/07), and $6.5 billion in socially screened assets, and has $750 million in assets under management in the alternative energy sector.
ALTERNATIVE ENERGY INVESTING IN 2008
Vestas Wind Systems A/S (Nordic Exchange Copenhagen: VWS). Copenhagen-based Vestas is the world leader in delivering wind energy. Vestas already has installed over 33,500 wind turbines in 63 countries and on five continents - a rate of a new turbine every five hours. In fact, Vestas turbines generate more than 50 million megawatt hours (MWh) a year or enough power to supply millions of households. Vestas also has helped to design and deliver major improvements in wind turbine technology.
Q-Cells AG . Photovoltaic leader Q-Cells AG is located in Thalheim, Germany. In 2005, it became the world's second largest producer of solar cells with a 9 percent market share. A key to Q-Cells growth is a contracted and secured supply of silicon and silicon wafers. Q-Cells AG has already contracted for wafer and silicon supplies for a total capacity of 256 MWp in 2006. Q-Cells' core business is the development, production and sale of mono- and polycrystalline, silicon-based solar cells.
Renewable Energy Corporation ASA . Based in Hovik, Renewable Energy Corporation is a Norwegian solar energy company established in 1996. It is the world's largest producer of solar grade polysilicon, the world's largest producer of wafers for solar applications and a major producer of solar cells and modules. REC produces wafers in its ScanWafer subsidiary, cells in its ScanCell subsidiary, and modules in its ScanModule subsidiary. REC partnered with Q-Cells and Evergreen Solar in the EverQ company which converts polysilicon into modules. REC supplies polysilicon, Q-Cells provides manufacturing know how, and Evergreen provides a string ribbon manufacturing technology that uses much less silicon than traditional manufacturing technologies.
On the U.S. side of the alternative energy equation, Peers highlighted:
Nova Biosource Fuels, Inc. . Houston-based Nova Biosource Fuels, Inc., formerly Nova Oil, Inc., is an energy company that refines and markets biodiesel. The company owns a biodiesel refinery in Butte, Montana, which has a production capacity of 80,000 gallons of biodiesel per year. Nova is now focused on the operation of its 10 million gallon per year biodiesel refinery in Clinton, Iowa and on the construction and operation of three biodiesel refineries with production capacity of between 180 to 220 million gallons of biodiesel fuel on an annual basis. Nova's business strategy for the next three years includes building up to seven biodiesel refineries with production capacities ranging from 20 to 100 million gallons each per year. All of Nova's refineries will use its proprietary, patented process technology, which enables the use of a broader range of lower cost feedstocks.
SunPower Corporation . Based in San Jose, CA, SunPower designs, manufactures and delivers high-performance solar electric systems worldwide for residential, commercial and utility-scale power plant customers. SunPower high-efficiency solar cells and solar panels generate up to 50 percent more power than conventional solar technologies. SunPower has offices in North America, Europe and Asia. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. . Recently, SunPower announced that it had signed a five-year agreement with Jiawei SolarChina Co. Ltd. to secure a supply of monocrystalline silicon ingots and silicon wafers. SunPower said it will purchase sufficient silicon in ingot and wafer forms to satisfy production requirements and will provide Jiawei with polysilicon during the life of the agreement. Jiawei is affiliated with SunEnergy, SunPower's solar panel assembly partner.
As of November 30, 2007, these companies were held in the following Calvert socially-screened funds: Calvert Global Alternative Energy Fund held Vestas Wind Systems (5.2% of fund assets), Q-Cells AG (3.7%), Renewable Energy Corporation (4.3%), Nova Biosource Fuels (0.4%), and SunPower Corporation (5.2%); and Calvert Large Cap Growth Fund held SunPower Corporation (0.8%).
ABOUT THE FUND
Calvert launched the Calvert Global Alternative Energy Fund to meet growing investor demand for alternative energy both as a global investment opportunity and as an essential response to the climate change crisis. The Fund invests in a broad universe of U.S. and non-U.S. stocks, seeking out companies that are alternative energy market leaders as well as those building a significant presence in the sector.
Over the long term, Calvert believes that alternative energy technologies will become an increasingly significant solution to the global energy and climate change challenges. The firm believes it will take multiple strategies to address climate change and therefore advocates a broad range of solutions, such as greater energy efficiency and aggressive development of renewable energy sources.
Calvert Global Alternative Energy Fund is subject to risks because the stocks that comprise the energy sector may decline in value, and prices of energy (including traditional sources such as oil, gas or electricity) or alternative energy may decline. The stock markets in which the Fund invests may also experience periods of volatility and instability. In addition, shares of the companies involved in the energy industry have been more volatile than shares of companies operating in other, more established industries. Consequently, the Fund may tend to be more volatile than other mutual funds. Lastly, foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations.
ABOUT CALVERT
Calvert is one of the nation's largest socially responsible mutual fund firms with approximately $16 billion in assets under management. Calvert offers 41 funds that allow individual and institutional investors to pursue a broad range of investment objectives within a single fund family. Calvert launched the Calvert Social Index (R), a benchmark for measuring the performance of large, U.S.-based socially responsible companies. For more information, visit http://www.Calvert.com on the Web.
ABOUT KBC ASSET MANAGEMENT INTERNATIONAL LTD.
KBC Asset Management International Ltd. employs a three-step investment process in selecting stocks for the fund. Through this highly disciplined approach to stock selection, KBC creates a universe of stocks, then establishes fund sub-sector target allocations, and finally creates the portfolio though stock analysis, weighting, and application of risk controls. The creation of the universe involves tapping numerous sources, including the firm's Environmental Advisory Committee, consisting of a diverse range of European experts on alternative energy and general energy issues.
For more information on any Calvert fund, please contact your financial advisor or call Calvert at (800) 368-2748 for a free prospectus. An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The prospectus contains this and other information. Read it carefully before you invest or send money.
Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member FINRA, a subsidiary of Calvert Group Ltd.
No comments:
Post a Comment