Cree just announced that they have been selected to supply Walmart with LED light bulbs to be installed in new stores and in 650 existing stores that are being renovated. As part of the renovations in these stores, Cree LRP-38 LEDs are being installed in the produce and electronic sections to replace the existing ceramic metal halide lights.
In a press release, Neal Hunter, Cree LED Lighting president, commented on the news:
“Cree TrueWhite … Read the rest
Suntech just announced the closure of a 115 MW deal with EnXco, a unit of EDF Energies Nouvelles. The solar modules will be delivered next year 2010), and the partnership may be expanded in the future.
EnXco is expected to use the modules in installations in the US and Canada. In a press release SunTech’s chief strategic officer Steven Chan explained that “continuously leading solar innovations and delivering the most cost effective solutions are key … Read the rest
Comverge just announced that it has been chosen to provide load control devices and software for Puget Sound Energy’s smart-grid enabled demand response pilot program. The program is located in Bainbridge, Washington and will last 2 years. Residential consumers participating in the program will have ZigBee-enabled programmable 2-way communicating SuperStat PRO(TM) thermostats, Comverge ZigBee-enabled Digital Control Units (DCU) and Internet-enabled Comverge ZigBee Gateways installed in their homes, and will be able to voluntarily manage their … Read the rest
Ocean Power Technologies (OPTT) has been running its Underwater Substation Pod through trials in Spain as part of a contract with Iberdrola Marinas de Cantabria and the company announced early this morning that it’s been a success. The underwater pod was developed to facilitate the collection, networking and transforming of power and data generated by its wave energy generating PowerBuoy systems in order to transmit it to an onshore electrical grid. Testing of the … Read the rest
Yesterday, both Kaufman Bros and FBR Capital issued negative reports on First Solar (FSLR), but the stock didn’t budge as it held above the $120 level. That kind of resilience typically sets up at least some short term strength which is why I have initiated a swing trade around the $123 level. My stop point is just below the $120 level.
Here are the analyst comments from yesterday… (hat tip to StreetInsider.com for the analyst … Read the rest
Xcel’s plans to convert their Bay Front power plant to biomass have received the seal of approval from the Public Service Commission of Wisconsin. The plant, which will be powered by wood biomass from nearby tree harvests, will be the largest biomass-fueled power plant in the Midwest. The power plant should be converted completely to biomass by 2012.
In a company press release, Mike Swenson, the president and CEO of Northern States Power Company-Wisconsin, … Read the rest
Raser just announced that they have come to yet another extension agreement with the financing partners for their Thermo No. 1 Plant. The extension gives Raser until November 30th to redo its financing agreements so that they conform to changes in tax law caused by the stimulus. Once the agreements have been restructured, Raser will apply for a Section 1603 renewable energy tax credit grant. Raser will use the proceeds to pay off some of … Read the rest
Deutsche Bank is initiating coverage on Ener1 Inc. (HEV) this morning with a Buy rating and price target of $11.
Hat tip to StreetInsider.com for the following analyst comment:
“Ener1’s technology is highly regarded, it has a strong management team, and we expect it to have similar capacity to its primary US competitors (i.e., JCI, A123, LG Chem) through mid-decade. Most importantly, the company has contracts that should generate an annual run-rate of $150+ million … Read the rest
The coverage is beginning to come out on A123 Systems (AONE) and the first round is generally positive with some bullish comments coming out of Deutsche Bank.
Bank of America initiates with a Hold rating and $17 price target.
Morgan Stanley has initiated coverage an Equalweight which I assume is similar to a Hold rating.
Deutsche Bank initiates coverage with a Hold rating and price target of $17.
Hat tip to StreetInsider.com for the following … Read the rest
Rubicon Technology (RBCN) reported results this morning that weren’t all that impressive. With Cree Inc (CREE) continuing to do extremely well in the LED space, I expected a bit better results. The company reported a loss of .10/share which matched analyst estimates on revenues of $5.7 million which was a bit above what Wall St expected. The CEO commented on the strength in the LED market , but it doesn’t appear they’re capitalizing just yet.… Read the rest