MEMC Electronic Materials (WFR) announced earlier today that it has purchased the US subsidiary of Fotowatio Renewable which the CEO said provides them with an opportunity to grab a leading position in military solar installations as well as a nice compliment to its Sun Edison solar project subsidiary. MEMC will pay about $135 million for Fotowatio plus a potential deferred payment of up to around $100 million depending on Fotowatio performance targets.
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… Read the restNothing seems to be working to get the China solar stocks off the ground, not even the announcement of China’s first nationwide solar FIT program. Rumors have been swirling for a few days and it was announced that the government will provide developers payment of RMB 1.15 (.18 kw/hr) if approved by 1 July or completed by the end of the year and RMB 1/kWh if approved after July 1st.
Analysts are disagreeing about just
Shares of Energy Focus (EFOI) are soaring about 50% today (but off a low level of just .40/share) on news the company has been awarded a significant contract by the Navy for the continued development of LED lighting on Navy ships. Working with the Navy isn’t a new venture for EFOI, but the size of this contract is and represents about 65% of the revenues it generated in all of last year. Previous installments of … Read the rest
Details are few but GT Solar (SOLR) announced yesterday that it landed an order from a new customer in Asia for polysilicon production equipment totaling $55.1million. The order will be for GT Solar’s entire suite of polysilicon production equipment to be used in the production of TCS, SDR reactors, filament and product processing equipment and other poly equipment. No word on who the new customer is, but it’s likely a customer from China where … Read the rest
Trina Solar (TSL) was out lowering guidance yesterday and it’s no surprise. We’re still seeing warnings from solar companies still reeling a bit from the Italy and Germany subsidy changes. The company said that despite record shipment volumes they are expected to come in considerably lower than previously thought.
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– Shipment volume estimates go from 430MW – 450MW to 395MW – 397MW.
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Tesla Motors (TSLA) appears to be on track for a launch of its much anticipated Model S electric sedan for next year. The company has begun assembling beta versions of the vehicle, a few of which will make its way into Tesla showrooms later in the year.
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The success of Tesla will most likely be closely tied to the success of its Model S because they … Read the rest
Power-One (PWER) is reporting decent quarter over quarter growth both on the EPS and revenue side this morning, but the company missed analyst EPS estimates posting .21/share vs the analyst estimate of .22/share. They did beat on the revenue side posting $260 million vs the expectation for $254 million. All in all, not a bad quarter and it appears to be enough for traders to do some bargain shopping in shares of PWER this morning. … Read the rest
Maxwell Technologies (MXWL) is having a great day today with a more than 15% surge after the company beat analyst estimates, posting robust quarter over quarter growth in the process. The company reported an EPS of .06 on revenues of $38.5 million vs the analyst estimate for .01 in EPS on revenue of $37 million. The company continues to experience rapid growth and that continued with quarter over quarter EPS and revenue growth of … Read the rest
Ener1 (HEV) is announcing a lithium ion battery cells distribution deal with the leading high performance electric motorcycle manufacturer, Lightning SuperBike. They will also eventually supply cells for Lightning’s commuter bikes and scooters which will be developed over the next few years. Lightning is expected to come out with a street legal version of its record breaking high speed bike soon.
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"We’ve tested many different battery … Read the rest
If you look at the mainstream financial headlines of the Itron (ITRI) earnings report tonight you’ll be led to believe that the company beat both on the top and bottom line by a wide margin. Unfortunately, most mainstream news outlets don’t use the non GAAP number and back out one time gains and losses. So, yes headlines can be misleading in this industry. Let’s set the record straight. Itron (ITRI) posted a solid quarter no … Read the rest