Evergreen Solar (ESLR) continues to post steep losses and hasn’t come close to a profit in nearly two years now. After the bell today, the company posted nearly $100 million in losses, but more than half of that was related to a big write off related to the investment in Sovello. Still, it equates to a .20/share loss after the write down is taken out.
Adding insult to injury, the company ended the four quarter … Read the rest
According to the Boston Business Journal, Evergreen Solar just announced that its German joint venture with Q Cell, Sovello, may be forced to declare insolvency after a European commission’s decision to revoke a $16.2 million grant the company was given in 2008. The grant was given to Sovello as a “small and medium enterprise,” and the commission found that Sovello concealed the true extent of its relationship with Q Cell to qualify.
Sovello is … Read the rest
Key Equipment Finance just announced that it will be partnering with SunPower (SPWRA) to provide financing for up to $50 million worth of SunPower commercial-scale solar systems. The program will allow qualified commercial customer to secure capital leases and loans and government entities to secure municipal leases to finance the construction of SunPower solar systems from 50 KW to 1 MW in size.
The programs will make it easier for customers to apply for credit … Read the rest
MEMC Electronics (WFR) was punished yesterday after missing Wall St estimates and appears to be on its way to test all time lows around $10, but the stock may get some relief buying today following two upgrades from Gabelli and Credit Suisse.
Credit Suisse upgraded WFR from Neutral to Outperform and raised the price target from $17 to $19 (nearly a double from today’s prices).
According to Notable Calls, Credit Suisse sees semi prices … Read the rest
Two LED lighting plays that were on fire last year appear to be in the beginning stages of rolling over after torrid runs and downgrades from Merriman Curhan today didn’t help.
Hat tip to Street Insider for the analyst comments which are nearly identical.
CREE was downgraded from Buy to Neutral “We are concerned that extraordinarily strong MOCVD tool bookings from 2H09 to 1H10 could lead to near term over capacity that could in turn … Read the rest
There’s reason to celebrate if you’re an employee of Power One (PWER) and certainly if you’ve been a shareholder since September. The company reported its first quarterly profit in company history after the bell today. The anticipation of this day has certainly been building in this stock as it vaulted from about 1.20 in September, hitting a peak at nearly 5 bucks just three months later. It’s since given some of that back and trades … Read the rest
Trina Solar (TSL) landed a 40MW deal to supply solar modules to ITEC of Germany last week and today its landed another 40MW German order, this time from AE Photonics to be delivered this year. Half will be delivered in the first half of the year with agreed pricing in the first quarter. Very similar to the ITEC deal.
The news didn’t help the stock at all today, as China stocks were hammered again along … Read the rest
By Sam Hopkins of GreenChipStocks.com
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I’m in Washington, D.C. today for the American Council on Renewable Energy’s RETECH Expo, where I’m mining the showcases and speakers for new stock picks. Not every technology or company here will be a home-run investment. To tell the truth, many of them won’t even make it ten years without being bought out or folding…
Others will make headlines and drive market returns, … Read the rest
Energy Conversion Devices’ subsidiary United Solar Ovonic just announced that it will be providing 25 MW of UNI-SOLAR® brand photovoltaic laminates to be used in Enel Green Power’s planned installations for CIS-Interporto di Nola in Italy.
The laminates will be installed on the rooftops of several buildings, and once they come online, they will produce 33 million kWh of power per year. That’s enough to power about 13,000 households, reducing annual CO2 emissions by … Read the rest
Comverge just announced that it has expanded its existing contract with Pepco Holdings, Inc. Under the new contract, Comverge will provide full support to more Pepco Holdings territories. Comverge will provide marketing, installation and call center services for its Apollo Demand Response Management System and will install more than 40,000 home energy management devices. Comverge will also provide its Dual Mode Digital Control Units and SuperStat PRO™ programmable thermostats.
In a press release, Comverge Interim … Read the rest