Ormat Technologies (ORA) is announcing this morning that one of its subsidiaries has secured a 20-year power purchase agreement with Nevada Power Company to purchase 30MW from the McGinness Hills Geothermal project, which is currently under construction and expected to come online in about two years.
Once the McGinness project is completed and running at full speed, Ormat will provide roughly 135MW of geothermal power to Nevada Power, which will get the utility into compliance … Read the rest
Shares of Yingli Green Energy (YGE) are holding steady this morning despite the Sell rating by Hapoalim Securities.
The analyst comment below courtesy of StreetInsider.com
“After updating our model to include: (1) higher ASPs (inline w/ YGE’s guidance),(2) higher shipments (above YGE’s guidance), & (3) lower poly-Si sourcing costs (which implies YGE works thru the majority of its excess poly-Si inventory), we are still below the Street for C3Q09; given our analysis suggests consensus is … Read the rest
Comverge (COMV) has reported earnings results this morning and they’re so so in my opinion. The company did beat on both EPS and revenues by reporting a .44/share loss (est .43/loss) on revenues of $33.2 million (est $32.8 million). That’s another increase in revenues over the year ago quarter, but the company isn’t making much headway on EPS.
The CEO didn’t comment on the revenue growth not translating into better EPS numbers, but he did … Read the rest
There wasn’t going to be too much of a surprise in the Energy Conversion Devices (ENER) earnings report. The company has been struggling for a few quarters and that was going to continue. The company posted a record loss of .34/share on revenues of just $42.9 million. The revenue number missed analyst estimates of $56.4 million by a wide margin and represents a more than 60% plunge over the year ago quarter.
No word yet … Read the rest
Canaccord Adams is also maintaining its Buy rating on Fuel Systems Solutions (FSYS) and raising the price target from $40 to $48 following yesterday’s earnings
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Hat tip to StreetInsider.com for the following analyst comment:
“Incrementally positive. Delayed OEM (DOEM) momentum continues unabated (vehicle throughput +25% Q/Q), more than offsetting expected weakness in Industrial. The strength translated into higher guidance for the second consecutive quarter…The leverage in the model is clearly impressive, as DOEM volumes … Read the rest
Canaccord Adams reiterated its Buy rating on EnerNOC (ENOC) and raised the price target to $40 following its earnings report.
Hat tip to StreetInsider.com for the following analyst comment:
“EnerNOC’s management team delivered on its promise of significant leverage in the business model, driving Q3 revenues to $100M+, generating 50% GMs, 25% OMs (~$13M in cash from ops) and $1.12 in GAAP EPS. As expected, capacity contracts in PJM region carried the upside, … Read the rest
Applied Materials (AMAT) has acquired privately held Advent Solar today in an effort to decrease manufacturing costs of solar panels. Advent Solar’s technology helps to streamline the assembly operation which Applied Materials says will help the company produce solar panels at below $1/watt within the next three years. No word on the financials of the deal. … Read the rest
Ocean Power Technologies (OPTT) has just released big news yet again and the stock is soaring another 30%. The company has a received a $66.5 million grant from the Australian government to build a 19MW wave energy project off the coast of Victoria. Over 30 applications were submitted to the government and just four were approved, including the OPTT project. It’s the only wave energy project approved so big news for Ocean Power. They will … Read the rest
The first solar IPO in about a year began trading this morning below the expected range of $11 – 13/share around $10/share. Certainly not a hugely successful IPO, but holding in there at a time when solar stocks are generally struggling.
STR Holdings (STRI) makes components called solar power module encapsulants that protect the circuits in the solar panel. The company is profitable and counts some big players as customers (First Solar, Sunpower, BP Solar). … Read the rest
First Solar just announced that it has purchased a planned 115 MW solar energy project, the Carrizo Energy Solar Farm, from Ausra. According to the New York Times, First Solar doesn’t plan to build the project, but instead will use the land to change the layout of its nearby Topaz project, making it more wildlife friendly and increasing the chances that it will be approved.
The financial terms of the deal were not disclosed, but … Read the rest