First Solar (FSLR) has needed some good news and it some today on news it would partner with SoCo Edison on projects totaling 550MW. Several hours later it also announced a deal with the Los Angeles Dept Of Water & Power to build a solar project with a capacity of 55MW in Imperial County. Construction on this project is expected to begin next year and be completed in 2011, but still needs approval from the … Read the rest
All posts by Tate Dwinnell
American Superconductor (AMSC) Receives Wind Turbine Electrical Order From Hyundai
American Superconductor (AMSC) has received an initial order for 17 sets of electrical systems for wind turbines from Hyundai Heavy Industries. South Korea based HHI is the country’s largest shipbuilder and is looking to tap into the wind energy business by partnering with AMSC. The company has licenses for AMSC’s 1.65 and 2MW wind turbine designs and plans to use the electrical components purchased today for use in the 1.65MW doubly fed induction turbines.
Said … Read the rest
Quantum Fuel Systems Technologies Worldwide, Inc (QTWW) Announces Public Debut Of Fisker Karma
Quantum Fuel Systems Technologies’ affiliate Fisker just held the fist public driving demonstration for the Karma PHEV. The demonstration took placeduring the Rolex Monterey Historic Automobile Races at the Mazda Raceway Laguna Seca. The Karma can travel 50 miles on a full battery charge, and after that uses an efficient gasoline engine along with an onboard generator. During the test run, it hit 100 mph without using any gasoline at all. It uses Quantum Fuel … Read the rest
A-Power (APWR) Forms Joint Ventures With Jiangsu Miracle Logistics System Engineering Co., Ltd.
A-Power Energy just announced that it has formed 2 joint ventures with Jiangsu Miracle Logistics System Engineering Co., Ltd. The first joint venture, Shenyang Tianxiang Wind Equipments Manufacturing Co., Ltd, will manufacture wind turbine components like blades and hubs, at a new plant in Shenyang City. For this joint venture, A-Power is throwing in $1.5 million and Jiangsu Miracle will invest $1.4 million.
The second joint venture, Shenyang Tianrui Wind Equipments Sales Company Co., Ltd, … Read the rest
First Solar (FSLR) Signs Contract With Southern California Edison
First Solar just announced that it has signed a contract with Southern California Edison regarding the construction of 2 solar power projects in Riverside and San Bernardino counties. Together, the projects will generate 550 MW of solar energy. When complete, they will produce 1.2 billion kilowatt-hours of renewable electricity each year. As long as the projects are approved by the California Public Utilities Commission, construction is set to begin on the 250 megawatt Desert Sunlight … Read the rest
Wedbush Morgan Defends First Solar Too; "Negative Barrons Article Unwarranted"
Last night I posted about Jefferies analyst Paul Clegg defending First Solar (FSLR) following the negative piece on the company in Barrons. This morning, Wedbush Morgan is out defending the company as well, assuming coverage at an Outperform with a price target of $190.
Hat tip to StreetInsider.com for the following analyst comment:
“Negative article in Barron’s is unwarranted, in our opinion. Investor concerns over the rebate program in Germany are overdone. in our opinion. … Read the rest
Rentech (RTK) Signs Multi Year Deal For RenDiesel With 8 Airlines At LAX
Rentech (RTK) is on a roll. The stock is up another 25% in premarket trading after announcing this morning that they have signed a multi year deal with eight airlines to supply up to 1.5 gallons/year of renewable synthetic diesel (RenDiesel) for ground service equipment operations at the LA Airport (LAX) beginning in about two years
D. Hunt Ramsbottom, CEO of Rentech, said, “This commercial purchase contract among Rentech, ASIG and the airlines validates the … Read the rest
Solarfun (SOLF) Up Premarket After Beating Estimates; "Demand Appears To Be Improving"
Solarfun (SOLF) is trading up about 5% premarket after beating both on EPS and revenues. The company posted a non GAAP EPS of .08/share vs the analyst estimate of a .04/share loss. Revenues also came in better than expected (about $8 million higher) at $125 million. Those numbers are still way off from the year ago quarter but a significant improvement sequentially, indicating that the financial bottom may be in for Solarfun.
Highlights
– PV … Read the rest
Jefferies Analyst Defends First Solar (FSLR) Following Negative Barrons Article
Over the weekend, Barron’s wrote up a piece on First Solar (FSLR) highlighting the company’s negative free cash flow and goes so far as to say the revenue beat was a figment of bookkeeping for a project in Berlin in which the company recognized $84 in revenue. The author also questions the OptiSolar transaction and the way the company booked the value of a PG&E contract. All in all, it didn’t help the stock much … Read the rest
Comverge (COMV) To Sell Up To $100 Million In Stock, Shares Pressured
Shares of Comverge (COMV) will likely come under further selling pressure tomorrow morning on news the company has filed a shelf registration statement with the SEC which permits the company to offer and sell up to $100 million in securities. While the company has no immediate plans to offer shares, it gives them the flexibility to raise cash quickly should the need arise. Considering COMV took out support of the 50 day moving average today, … Read the rest