Orders for gas turbines are still being issued by Capstone Turbine Corporation (CPST). Since the beginning of the year, CPST shares have risen by 180 percent. The business maintains a positive outlook, as in the context of green energy growth, small turbines are increasingly used.
The company manufactures small turbines with a capacity of tens of kilowatts that can, if necessary, be combined into a more efficient power plant. In small-scale production facilities, such installations can be used as well as a means of providing uninterrupted power for autonomous solar panel and wind turbine-based generation systems.
Capstone won a range of new contracts in December. Thus, it became clear last week that company’s exclusive distributor in Australia, the Optimal Group has signed a 10-year contract for the maintenance of a 1 MW power plant for Santos Limited, one of the region’s largest producers of oil and gas. Since January 2020, the Capstone turbine has been working and has replaced the old diesel generator. It is combined with solar panels in the generation system and the complete plant as a whole cuts carbon emissions by half.
Overall, in Australia, Optimal has 13 MW of Capstone turbines in operation and several contracts under production.
In early December, Capstone also obtained an order to install two C1000 megawatt turbines at the Yaguara Oil field in Colombia through distributor Supernova Energy Services. The consumer was one of South America’s biggest oil firms, Ecopetrol, which is listed in the Fortune Global 500 list. This is not the first order for Capstone products, which for long-term investors is a positive indicator.
Last week, the sole Capstone distributor for the Rocky Mountains and Western Canada, Horizon Power Systems also renewed a ten-year extended Factory Protection Plan (FPP) service contract for 1.6 MW of Capstone microturbines.
Capstone Turbine Corporation (CPST) stock rose 10.13 percent on Monday to close the session at $8.59.