Suntech Power (STP) is undoubtedly on a roll with agreements in place for large solar projects. Just one one month ago the company announced agreements with several local Chinese governments to produce 1.8GW of solar power which are contingent upon permits and other red tape. This morning, the company is announcing an agreement with China Huadian to develop 500MW of utility scale and commercial roof top solar projects in the Jiangsu and Shanghai provinces over … Read the rest
All posts by Tate Dwinnell
Fuel Systems Solutions (FSYS) Diversifies With Purchase of Teleflex Power Systems Unit
Yesterday, Fuel Systems Solutions (FSYS) got a bit more diversified with the purchase of the Power Systems unit of Teleflex for $14.5 million which includes industrial and transportation alternative fuel components and systems and auxiliary power systems. The deal is expected to close this quarter and begin contributing to earnings next year.
The Power Systems segment is comprised of 3 business units:
Idle Reduction & Power Management manufactures products to increase efficiency and reduce carbon … Read the rest
FBR Capital Markets: Today’s Solar Stocks Rally "Driven By Innacurate Assessment Of China Subsidy News"
Hat tip to StreetInsider.com for the following comments out of FBR Capital Markets which basically said the run up in solar stocks today on the China solar subsidy news is an overreaction.
FBR said the “Golden Sun Program” will not save solar stocks entering earnings season and that the translated version of the press release issued by CMF suggests that the central government in China decided to support financially any electricity generated by solar PV … Read the rest
Wedbush Morgan: Challenges Remain In Solar Market Heading Into Earnings; FSLR Should Retain Cost Leadership
Wedbush Morgan was out with an article in Barrons yesterday highlighting the challenges that remain in the solar market as solar earnings kick off next week. They believe that 2nd half estimates may be too optimistic and earnings will show the negative impact of rapidly declining average selling prices, inventory write downs and cancellations/delays of customer orders. While they generally agree that the drop in average selling prices may spur demand to a degree, the … Read the rest
China Offers New Subsidies For Solar Power (STP, YGE, TSL)
The Chinese government just announced it will offer significant new subsidies to solar power manufacturers. According to Reuters, the government will cover 50 percent of investments for solar power projects and necessary power transmission and distribution projects. There are some qualifications for companies to receive the subsidy: The projects must generate at least 300 KW at peak power, must be maintained for 20 years and must be completed in a year. PV systems installed in … Read the rest
NRG Shareholders (NRG) To Vote On Exelon’s (EXC) Hostile Takeover Bid Today
The takeover drama between Exelon Corp and NRG Energy may finally come to a close today, as shareholders from NRG gather to vote on whether to not to elect Exelon’s chosen directors to NRG’s Board.
If the directors are not elected, Exelon will walk, and eventuality that is looking increasingly likely according to Reuters.
Right now, Exelon is offering 0.545 Exelon shares per NRG share. NRG has said it believes the offer is too low, … Read the rest
American Superconductor Corporation (AMSC) Nets $12 Million In DOE Funding
American Superconductor Corporation just announced that it has received $12 million in funding from the US Department of Energy. The funding comes from the American Recovery and Reinvestment Act and will fund smart-grid related projects. Here’s a breakdown:
$4.8 million to wrap up development of a three-phase 138 kilovolt (kV) fault current limiter (FCL) using the company’s 344 superconductors and low-inductance coil technology developed by Siemens.
$7.6 million to help complete phase II of AMSC’s … Read the rest
Cree, Inc (CREE) Lights Up LEED-Certified McDonalds
Cree just announced that its LED lights have been used to illuminate North Carolina’s first LEED-certified McDonald’s franchise. The store, which was rebuilt to achieve LEED gold certification, expects to have the certification confirmed by October.
CREE’s LED lights make up 97% of the lighting system in the building, which uses a whopping 78% less energy that conventional lighting. The building is also designed with skylights to allow natural light to enter the store, and … Read the rest
Renesola (SOL) Signs Letters Of Intent For 505MW In Government Contracts
Yesterday, Renesola (SOL) got a bit of a pop higher on news it has signed letters of intent for 505MW in government solar contracts. The first is a potential deal with the Yancheng city government for a 500MW on grid solar project consisting of mainly ground mounted systems and 10MW of rooftop installations to be built over the course of six years. The second deal is a 5MW rooftop solar project with the Panzhihua … Read the rest
Green Plains Renewable Energy (GPRE) Starts Production at New Nebraska Plant Acquisition
Green Plains Renewable Energy has begun grinding corn to turn in to ethanol at its new plant in Ord, Nebraska. The plant, which Green Plains Renewable Energy acquired earlier this month, should be producing its fist batch of ethanol tomorrow, July 16th.
In a company press release, Green Plains CEO Todd Becker commented on the milestone:
The startup of the Ord plant within eight days of completing the purchase is a testament to our … Read the rest