big win, page-12

Here's what Climate Spectator said today:

"Rising sun

Renewable energy company CBD Energy has announced a swing to the black, with a $2.36 million half year profit before tax, up from a $3.49 million loss this time last year. The diversified renewable energy group also reported significant growth in revenue, up 67 per cent from $45 million to $75 million, in its half year results announcement Tuesday. CBD said margins had been affected by a lack of working capital, which had meant selling RECs at "sub optimal prices," and a temporary spike in the price of PV panels caused by increased demand from Europe. The company said it expected margins to improve during the the second half of 2011.

Currently, rooftop solar is the main driver of CBD's earnings, but the company also announced Tuesday that it has secured two contracts ? heads of agreement have been signed ? for a combined 40MW of solar farms to be built in Italy. CBD puts the total project value at around $A185 million, with construction set to begin May 2011. The solar PV installations include one 20MW facility, one 10MW facility and ten 1MW facilities.

Locally, the company will begin the second half of the year with a backlog of 3,000 solar rooftop orders, which are expected to result in $22.5 million in revenue and $7.5 million in gross profit. In addition to the backlog, CBD expects to see continued growth in sales and to reduce its demand on capital by vending its wind operations into the wind joint venture and moving more of its back office functions overseas to its China office."

http://www.climatespectator.com.au/commentary/green-deals-yvos-carbon-view