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 … Read the rest
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 … Read the rest
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. … Read the rest
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 between Navistar (NAV) and Modec to develop commercial electric vehicles. The batteries for the Navistar EV will be manufactured in Michigan with the vehicles being assembled in Indiana for a launch sometime this year.
These commercial EV’s will be designed for frequent stops, have a … Read the rest
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 .20/share loss, they did beat on the revenue side posting $24.5 million (vs the estimate of $20.80 million. Those number are about inline with what the company has been posting over the past year, so the earnings results don’t say much. As with all development stage … Read the rest
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 Toyoto Prius sent its owner on anything but a Sunday afternoon joy ride.
James Sikes of San Diego said that his 2008 Toyota Prius hybrid accelerated to nearly 100MPH on its own. He said the mat wasn’t propping up the accelerator and that he tried to … Read the rest
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 to Street Insider for the analyst comments:
“We are increasing our 2010 estimates to reflect demand-driven capacity expansion and solid gross margin outlook. The Company announced a 300MW capacity expansion to address continuing order demand from channel partners. Accordingly, YGE expects to ship 950-1,000MW in … Read the rest
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 up and running by August 2010. Sunpower will install its solar panels as well as its SunPower® T20 Tracker, which follows the sun to increase energy production by 30% energy.
In a press release, Luca Bandini, general manager of SunPower Italia, commented on the agreement:… Read the rest
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 plant its manufacturing in SoCo. Pacific Gas & Electric will purchase 300MW of the 550MW expected output of the Desert Sunlight project with Southern California Edison purchasing the rest. Both power purchase agreements are still subject to approval by the California Public Utilities Commission, but … Read the rest
According to this press release, A-Power just announced that its wholly-owned subsidiary, EVATECH, has been awarded a $1.7 million contract by an unnamed a Chinese leading renewable energy company. Under the terms of the agreement, EVATECH will design, build and install one set of photovoltaic solar machines, which it is expected to ship on May 31, 2010. The Chinese company has already made a downpayment.
:::: >>> Click Here For Your FREE A-Power … Read the rest