According to Street Insider, Piper Jaffray’s solar analyst, Jesse Pichel, issued a research note saying that “there were no proposals from the industry or specific demands from the Environmental Ministry of Germany” related to the solar subsidies. Solar stocks didn’t recover at all on this research note and continue to drift to the lows of the day after it was reported by Reuters that Germany would cut solar subsidies by 16 – 17% in … Read the rest
All posts by Tate Dwinnell
Solar Stocks Hit As Germany To Cut Subsidies 17%, Possibly More In 2011
Solar stocks have been hit hard over the past hour as Reuters reported Germany would begin cutting subsidies by 16 – 17% in April. German cuts have long been expected, but some had called for a 10% reduction later in the year, so this is a bit more than what some expected. Not to mention solar stocks (the China names in particular) have been on a tear, so any negative news was bound to throw … Read the rest
Suntech’s (STP) Solar Panels Powering 2 Pavilions At Shanghai World Expo
Suntech just announced that they have hooked up solar power systems to provide energy for two pavilions at the Shanghai World Expo in China. The building-integrated solar systems on the pavilions provide a total power output of 3.12MW. Togther, the pavilions are expected to produce 2.8 million kilowatt hours of electricity, replacing 1,000 tons of coal consumption and 2,500 tons of carbon emissions annually.
In a press release, Dr. Zhengrong Shi, Chairman and CEO of … Read the rest
Canadian Solar (CSIQ) Announces 18MW Rooftop Solar Distribution Deal With West Holding Of Japan
Canadian Solar (CSIQ) has announced a partnership and distribution deal with West Holding of Japan to push further into a growing Japanese solar market. As part of the joint venture, CSIQ will transfer 14% of the shares of the Canadian Solar Japan subsidiary to West Holding. West Holding will be responsible for marketing and distribution of approximately 18MW in residential rooftop solar systems this year.
CSIQ CEO Shawn Qu said, “West Holding is a leading … Read the rest
First Solar (FSLR) Acquires Edison Mission Solar Project Pipeline
First Solar just announced that they have acquired some of Edison Mission Group’s planned solar power projects. According to Reuters, the projects, which are located in the Southwest and California, range from 20MW to 150MW, and are located on private land.The companies are keeping the financial details of the acquisition private, and utilities have not yet signed agreements to purchase the power that will be produced by the projects. This acquisition has been in the … Read the rest
Morgan Joseph Downgrades Cree Inc (CREE) On Valuation, But Raises Estimates
Cree Inc (CREE) is holding up quite well despite a downgrade this morning from Morgan Joseph. The stock has been on a torrid run this year, so it’s not unusual for a few valuation downgrades to be issued. The firm downgraded CREE from Buy to Hold but raised estimates for this year and next. Hat tip to Street Insider for the following analyst comments.
“On Tuesday after the close of trading, we expect Cree to … Read the rest
A123 Systems (AONE) Gets Multi Year Lithium Battery Supply Deal With Fisker
Now we know why EnerDel and Fisker broke off discussions about working together. Fisker wanted to work with A123 Systems (AONE). This morning the companies announced a multi year deal in which A123 will supply the lithium batteries for the Fisker Karma to be launched later this year. The relationship won’t end there. A123 will also invest as much as $23 million in Fisker and collaborate on the Fisker Nina, which is the all … Read the rest
Itron (ITRI) Subsidiary Actaris Wins India (Mumbai) Smart Meter Contract
This is great news for Itron (ITRI) today. Its subsidiary Actaris has won a joint contract with Arad Technologies of Israel to provide 150K water meters to the city of Mumbai which is half of an expected 300K order. The total project of installing 1.2 million water meters throughout Mumbai is expected to come at a cost of $128 million. Both companies expect to receive follow on orders for the project because of the complexities … Read the rest
Yingli Green (YGE) Energy Nets $4.5 Million Tax Credit
Yingli Green Energy is slated to receive a tax credit of $4.5 million for building a manufacturing facility in the US. The company plans to build a 100MW facility in the US, though it has not yet settled on a site. A location is expected to be announced in the next few weeks and the facility is expected to be up and running by the end of the year.
In a press release, Mr. … Read the rest
Ener1 (HEV) Plunges After Discussions With Fisker Break Down
Back in May we reported that Fisker was in talks with EnerDel to discuss the possibility of using their lithium batteries, but apparently those talks have now ended. The two companies signed a letter of intent for a potential long term deal that was contingent upon reliability and performance testing, so this is certainly a blow to EnerDel and the stock is down 17% on the news. The company will still be the supplier for … Read the rest