Valero Energy is using wind energy to power a refinery in Texas. The $150 million clean energy project will use 33 wind turbines to provide up to half of the energy needed.
Cisco has a goal of eliminating 25% of greenhouse gas emissions over the next 4 years and wants to help clients do the same. Their Telepresence HD video conferencing system is selling well and a big step in this process.
Brigantine Advisors has initiated coverage on Suntech Power (STP) with a Hold rating. Hat tip to Street Insider for the following analyst comment:
“Suntech is the world’s second largest manufacturer of solar modules, with shipments rising 42% Y/Y in 2009 on a Megawatt basis. Solar module pricing fell sharply in 2009, down nearly 40% Y/Y, and we expect will fall about 30% Y/Y in 2010. The company relies on Germany for about 40% of its sales, and it is unclear what the impact of feed-in-tariff changes there will have on Suntech’s business. At 19x our 2010 EPS, we think the stock is fairly valued at these levels. Our 2010 estimates are generally in-line with the Street, with GAAP EPS of $0.75 on $2.10B in sales vs. consensus of $0.71/$2.07B, while for 2011 we are modestly higher at $1.06 on $2.47B in sales vs. consensus of $0.95/ $2.40B.”
::: >>> Click Here For Your FREE Suntech Analysis
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ReneSola (SOL) has reported earnings results this morning ahead of analyst estimates but the red ink continues to flow despite the best quarterly revenue number in over a year. They posted an adjusted loss of .03/share (estimates called for loss of .08/share) on revenues of $180 million (beating estimates of $169 million).
SOL CFO Charles Bai commented on the quarter: “During the fourth quarter of 2009, we continued to improve our manufacturing efficiency while expanding our market share worldwide. We worked through the remainder of our high-cost raw materials and expect first quarter 2010 polysilicon cost to be below US$60 per kilogram. We also reduced our average wafer processing cost significantly to approximately US$0.34 per watt. With anticipated further cost reductions in each segment of our business and continuing strong demand for our products and services, we expect to return to profitability in the first quarter of 2010.”
Looking ahead, the company is seeing robust demand to begin 2010 and expect total shipments in the range of 215 – 230MW and revenues in the range of $195 – 205 million (ahead of analyst expectations of $180 million) in the first quarter. While the company does expect wafer price declines of 10 -15% in the 2nd half of 2010 due to increasing competition and German tariff cuts, they maintain their full year 2010 shipment guidance of 900MW – 950MW and expect to be profitable.
Shares of SOL are down about 2% in premarket trading.
::: >>> Click Here For Your FREE Renesola Analysis
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SunPower just announced that it has been awarded a contract to provide SunPower T5 Solar Roof Tiles to generate up to 200 megawatts of solar energy. With this contract, SunPower will provide 80 percent of the energy needed for Southern California Edison’s solar PV installation program, in which the company plans to install, own and operate 250 megawatts of solar generating capacity over the next 5 years.
In a press release, Howard Wenger, president of SunPower’s utilities and power plant business group, commented on the project:
“The SCE program reflects the growing value of advanced solar panel technology as a reliable, cost-effective energy resource that can be installed quickly, anywhere and at any scale. SunPower applauds SCE’s commitment to rooftop solar development, which is unprecedented in the utility industry.”
:::: >>> Click Here For Your FREE Sunpower Analysis
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Trina Solar (TSL) has announced that its subsidiary, Changzhou Trina Solar, has added another US order. They signed a sales agreement with Essco Wholesale Electric, a Sonepar USA company which continues to push into the solar market. Trina will supply Essco with 25MW of solar PV modules this year with the option for 4MW more. That makes sales of 40MW this year in the US as they continue to push into the US market.
Trina Direct of North American Sales, Mark Wilkerson commented: “We are excited to announce this agreement with a well-established leading electrical wholesale distributor like Essco and Sonepar USA. We look forward to helping expand their solar PV capabilities and provide their existing customers and markets with our high-quality solar products. This partnership will help Trina Solar expand its presence and increase brand recognition in commercial and residential markets in the United States, an important growth market for the company.”
::: >>> Click Here For Your FREE Trina Soalr Analysis
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A123 Systems (AONE) is announcing some good news along with its earnings report today. They are going to be developing lithium ion battery systems for a joint venture project [...] Continue Reading…
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A123 Systems (AONE) reported mixed results after the bell today. While the company reported an EPS loss of .22/share which was slightly worse than Wall St expectations for a [...] Continue Reading…
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The PR nightmare continues unabated for Toyota (TM). As they continue to deny that electronics malfunctions are playing a role in the runaway acceleration issue comes news that another [...] Continue Reading…
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Ardour Capital is out this morning upgrading both Yingli Green Energy (YGE) and Comverge (COMV) following recent earnings reports. They upgraded Yingli (YGE) from Reduce to Buy. Hat tip [...] Continue Reading…
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SunPower just announced that it will work in partnership with K6 S.a.S to build 2 1-megawatt PV solar plants in Puglia, Italy. The solar plants are expected to be [...] Continue Reading…
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Helping to ease the sting of a JP Morgan (JPM) downgrade, First Solar (FSLR) has found a buyer for 300MW of solar energy that will be produced from a [...] Continue Reading…
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