Jamble Magazine Green Economy – Green News

July 9, 2018

Arise stock already benefiting from Ontario FIT

Category: Green News – Admin 8:39 pm

I was sent this information by GreenChipStocks, a green investment/advising website, and although I’m not really surprised with the information, I am unsettled that the future profits of a company that,

doesn’t have a groundbreaking solar product, nor is their price drastically different from any of their competitors.

are being made on a marked up publicly subsidized feed-in rate.  When Halliburton’s stock goes through the roof with the incurring of lucrative government contracts for infrastructure rebuilding projects people jump up and take notice.  When it happens in the renewable energy world no one really seems to care.

That chart comes from the last five days’ activity for Arise Technologies (TSX: APV), an Ontario-based solar outfit. Yet it only took one day for the stock to rocket 170% — from $0.165 all the way to $0.445.

What could make a stock climb that high in just a few short hours?

Forecasting a two-fold jump in first quarter-revenue might do it. Announcing first-quarter solar shipments will increase six-fold might have something to do with it, as well. What benefited Arise this quarter was their location — being based in Ontario. It’s as simple as that. Earlier this year, the Ontario government awarded contracts for 510 new clean energy projects as part of massive push for greener energy in the region. Last week, Ontario announced an additional 184 new clean energy contracts. In total, 694 new cleantech projects have been announced. And you can bet Arise — with company headquarters in Ontario — is on the receiving end of some of those contracts. Hence, the uptick in sales forecasts. According to Reuters, those 694 solar, wind, water, and biofuel projects will power 600,000 homes, generating more than 2,500 megawatts of electricity. They’ll also create 20,000 green jobs and bring $8.9 billion in private sector investment to Canada’s most populated province.

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