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Gold/Mining/Energy : Sustainable Energy Technologies (STG.V)
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From: No Mo Mo2/16/2011 12:17:33 PM
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Hmmm...signs of life today.

Sustainable Energy shares jump on tie-up with German co
11:23 am ET 02/16/2011 - Reuters

* Co to build 10,000 inverter units

* Says Ontario's microFIT program driving demand

* Shares rise 35 pct

Feb 16 (Reuters) - Shares of Sustainable Energy Technologies Ltd rose 35 percent after the Canadian solar energy company said it would supply power electronics circuits and build inverter units for a German firm.

Sustainable Energy will build 10,000 50-megawatt Sunergy II inverter units over the next year in Ontario for the Canadian unit of Germany's SRI.

Inverters are key components of power systems that turn the sun's rays into electricity as they convert the direct current output generated by the solar panels into the alternating current that the power grid runs on.

Demand for Sunergy II is growing due to Ontario's microFIT (feed-in tariff) program, which is aimed at encouraging homeowners, farmers, small businesses and institutions such as schools to own and develop small renewable projects.

Sustainable Energy shares, which have lost nearly a fifth of their value in the last three months, were up 2.5 Canadian cents at 15.5 Canadian cents Wednesday morning on the Toronto Venture Exchange. They earlier touched a high of 17.5 Canadian cents. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Anne Pallivathuckal)
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