Plug Power (PLUG) got another pop in its stock over an hour ago after it was announced that Whole Foods Market (WFMI) will use 61 GenDrive fuel cell powered forklifts at a distribution plan in Landover, Maryland. The company expects that converting to GenDrive fuel cells will increase production efficiency while reducing emissions up to 80%.
Shares have been pulling back after the initial spike and remain down about 4% today. … Read the rest
It seems solar company Daystar (DSTI) can’t do anything right these days and the company remains in disarray. A couple weeks ago, the stock got a pop to around the buck level on news it would merge operations with EPOD solar. It appeared for a bit that the stock would get out of the cellar, but the rally stalled out and this morning any optimism was squashed with the announcement of the EPOD agreement … Read the rest
Solarfun just announced that it has signed a supply contract with Meridian Neue Energien GmbH. Under the contract, Solarfun will provide Meridian with 5MW of solar PV modules, which are expected to be connected to the grid by December of this year.
In a press release, Henry Bolz, Managing Director of Meridian Neue Energien, explained why his company chose Solarfun:
“European, and in particular German, companies active in the PV market insist on
extremely high … Read the rest
Ormat just announced that its Israeli subsidiary has started a new joint venture with Israeli energy company Sunday Energy. Under the agreement, the two companies will work together to develop, construct and operate 36MW of Israeli solar PV systems.
The project is expected to cost $195 million in capital, financed by 80% Non-Recourse project finance debt. However, once the solar systems are completed,a long-term purchase agreement with Israel Electric Corporation Ltd is already lined up, … Read the rest
According to this press release, Raser Technologies just entered into an agreement with 3 of its major lenders that will allow Raser to repay some of its loan obligations in the form of stock. The total principal and interest that Raser owes is 5.4 million. Under the terms of the agreement, Raser will sell the lenders 3,201,526 shares of common stock priced for $1.68 per share. Raser will also provide the lenders warrans to … Read the rest
There were a few upgrades and downgrades of green stocks today, particularly in the solar space that I wanted to run through tonight.
Macquarie made a few calls in the solar space worth mentioning:
Yingli Green Energy (YGE) was upgraded from Neutral to Outperform. Shares finished up more than 5% and bounced off the 50 day moving average.
Sunpower (SPWRA) was upgraded from Underperform to Neutral. Shares finished up nearly 7% today and are nearing … Read the rest
Valance Technology just announced a deal with private equity firm Seaside 88, according to this article in the Austin Statesman. Under the terms of the deal, Seaside will buy up to 16.9 million shares at a discount from Valence over the next year. Seaside 88 purchased 650,000 shares on Thursday. The deal gives Valence a much-needed cash infusion.
In the Statesman article, Valence co-founder and chairman Carl Berg, who has been largely meeting the cash … Read the rest
Raser Technologies (RZ) is getting a pop here on news that it has signed an additional extension with its financing partners for its Thermo plant which allows the parties time to finalize amendments to financing agreements. The previous deadline was today and this extension allows for another two weeks to amend financing agreements due to recent tax law changes under the American Recovery and Reinvestment Act of 2009.
The company issued the following statement: “Finalizing … Read the rest
China electric car manufacturer Kandi Technologies (KNDI) is announcing this morning that the US Dept of Treasury has approved its low speed, convertible electric vehicle for meeting the requirements of a Qualified Plug-In Electric Vehicles which gives purchasers of the vehicle a tax credit of $4,434. It should be noted that this is only valid for this year, but the company is confident the certification will be extended to next year.
Said the CEO, “While … Read the rest
Pacific Gas and Electric Company just announced that it will be adding 290MW of solar energy through contract with Agua Caliente, a subsidiary of NextLight Renewable Energy, LLC. P G & E has been steadily adding solar power from independent developers as of late-this brings the total up to 830 MW.
The Agua Caliente project, to be located in Yuma County, Arizona, will provide electricity for more than 100,000 households in Northern and Central California, … Read the rest