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China Sunergy (CSUN) Buys 2 Solar Module Manufacturers for $47 Million

Posted by Alison Kroulek | Post a Comment (0) | # |
09:40:56 am on March 18, 2010

China Sunergy just announced the purchase of 2 solar module manufacturers, CEEG (Shanghai) Solar Science & Technology Co., Ltd and CEEG (Nan Jing) New Energy Co., Ltd, for a total price of approximately $47 million. The company is funding the transaction on its own, and will pay for the acquisitions in a series of installments.

CEEG (Shanghai) Solar Science & Technology produces 150 MW per year and is increasing capacity to 300MW by the middle of the year. CEEG (NanJing) New Energy is currently at 70 MW but is expected to be at 170MW later this year.  Both companies were controlled by China Electric Equipment Group Co., Ltd, which in turn is controlled by China Sunergy’s chairman.

In a press release, Mr. Lu Tingxiu, Chairman of China Sunergy, commented on the decision to purchase the manufacturers:

“These acquisitions enhance China Sunergy’s position in the downstream photovoltaic market and advance our initiative of developing into a comprehensive solution provider and providing value-added services to customers…Being vertically integrated will help to stabilize and increase margins in a possibly volatile environment, while representing a transformation towards a solution provider. We are reshaping the company from a single dimension manufacturing-oriented business into a platform with two pillars: technological innovation and a closer distribution channel to end customers. This acquisition will also positively impact China Sunergy’s customer composition, as we can further focus on providing value-added services to system installers and integrators.”

===> Click Here For Your FREE China Sunergy Analysis

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Converted Organics (COIN) Announces Shipment To Liberty Acres Fertilizer Corporation

Posted by Alison Kroulek | Post a Comment (0) | # |
09:31:08 am on March 18, 2010

Converted Organics just announced that they have shipped their LC 1-1-1 liquid organic fertilizer to Liberty Acres Fertilizer Corporation, a major East Coast fertilizer distributor with centers in Florida, Georgia, South Carolina and North Carolina. The company expects to ship more of this product to Liberty Acres in the next few weeks.

In a press release, David A. Flannery, Vice President of Marketing for Converted Organics, commented on the news:

” Partnering with Liberty Acres to provide fruit and vegetable growers with our unique LC 1-1-1 liquid organic fertilizer opens the door for Converted Organics on the extremely important and vital East Coast agriculture market. By working with Converted Organics, Liberty Acres can, for the first time, offer organic and conventional growers in the east a new range of organic fertilizers that are environmentally-friendly and safe for annual crops such as tomatoes, peppers, melons and strawberries.”

===> Click Here For Your FREE Converted Organics Analysis

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Raser Tech (RZ) Beats Estimates As Company Starts To Generate Revenue

Posted by Tate Dwinnell | Post a Comment (0) | # |
08:22:45 am on March 18, 2010

Raser Technologies (RZ) is moving higher in premarket trading after reporting better than expected results last night.  The company reported a loss of .07/share which beat the estimate of -.11/share and is a big improvement over the year ago quarter when the company reported a loss of .17/share.  That’s in large part due to the company now selling power from its Thermo plant to Anaheim, CA which is giving revenues a boost.  The company reported nearly $1 million in revenues this quarter which is the 3rd straight quarter of improving revenues.  All in all, a nice quarter from a company that has really struggled in the past year.  With a new CEO on board and some revenues coming in from its Thermo plant, this may be a stock to watch in the coming weeks.

Raser Chairman Kraig Higginson commented:  “We continued to grow in the fourth quarter 2010 and signed key deals that will keep us moving in the right direction.  We expect that the partnership with Evergreen will allow Raser to begin capitalizing on the abundant geothermal resources the Company has acquired. We are also pleased to see the output at Thermo 1 continue to increase as we make improvements and modifications. We have progressed from raw land to an operating power plant in just over two years at our Thermo Resource. Although behind our initial aggressive timeline, it is still far ahead of anyone else in our sector, which certainly validates our premise of a modular, rapid deployment strategy. I am confident we now have the team in place to further refine the process and complete future deployments in a more streamlined manner.”

New CEO Nick Goodman indicated that the company is making final preparations to begin their next geothermal energy project at the Lightning Dock, New Mexico site and expects to begin drilling soon.  However, it’s still pending permits and financing so soon could mean many months.. we’ll see.

===> Click Here For Your FREE Raser Technologies Analysis

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Trina Solar (TSL) Down On Secondary Offering

Posted by Tate Dwinnell | Post a Comment (0) | # |
07:53:16 am on March 18, 2010

Trina Solar (TSL) is under pressure this morning after announcing last night that it intends to offer 7,900,000 ADS shares for sale with the option for underwriters to purchase an additional 1,185,000 shares.  Proceeds will be used to expand manufacturing capacity, R&D and general corporate purposes. 

Shares are down about 4% in premarket trading as the stock continues to trade below the 50 day moving average and showing technical deterioration.  It looks like it may need to retest the area around the 200 day moving average in the coming weeks.

===> Click Here For Your FREE Trina Solar Analysis

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STR Holdings (STRI) Smashes Estimates, Guides Higher

Posted by Tate Dwinnell | Post a Comment (0) | # |
07:22:14 pm on March 17, 2010

STR Holdings (STRI) impressed Wall St after the bell today smashing estimates and guiding higher.  The stock is up about 4% in after hours trading after the company reported [...] Continue Reading…

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Read more on Questar, STR Holdings, Inc. at Wikinvest



Akeena Solar (AKNS) To Handle Installation For Lowe’s

Posted by Alison Kroulek | Post a Comment (0) | # |
11:07:34 am on March 17, 2010

Akeena Solar just announced that it will begin offering solar installations services for Lowe’s customers. The company will offer these services via 21 Lowe’s stores in California. Akeena’s Andalay [...] Continue Reading…

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First Solar (FSLR) Becomes Part Of Desertec Initiative

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10:45:54 am on March 17, 2010

First Solar just announced that it is now an Associated Partner in the Desertec Industrial Initiative, which aims to demonstrate the potentila of photovoltaic (PV) solar technology to produce [...] Continue Reading…

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Suntech (STP) Solar Panels Chosen For 4.7 MW Solar Plant in Taiwan

Posted by Alison Kroulek | Post a Comment (0) | # |
10:33:27 am on March 17, 2010

Suntech just announced that its solar panels have been selected to power what will be the biggest solar power plant in Taiwan. The new plant , which will be [...] Continue Reading…

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Evergreen Solar’s (ESLR) 5MW Plant Now Online In Italy

Posted by Alison Kroulek | Post a Comment (0) | # |
12:31:15 pm on March 16, 2010

Evergreen Solar just announced that a new 5MW Italian solar plant is online using Evergreen Solar panels, the largest Evergreen installation thus far. The plant uses 24,600 Evergreen Solar [...] Continue Reading…

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Piper Jaffray Initiates Coverage On Green Plains Renewable Energy (GPRE): "Significant Earnings Growth Over Next 2 Years"

Posted by Tate Dwinnell | Post a Comment (0) | # |
08:10:57 am on March 16, 2010

Piper Jaffray has initiated coverage on Green Plains Renewable Energy (GPRE) this morning with an Overweight rating and a price target of $19. Hat tip to Street Insider for [...] Continue Reading…

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