Suntech just announced that it has entered into agreements with several Chinese provincial and city governments for solar projects.
The agreements are as follows: 300 MW for the Shaanxi provincial government, 500 MW for the Shizuishan city government in Ningxia province, 500 MW for Qinghai provincial government, and 500 MW for Panzhihua city government in Sichuan province, for a grand total of 1.8GW. The agreements are contingent on several conditions. Suntech will need to get … Read the rest
General Electric just announced that have signed a deal with the Department of Defense worth $2 million to transform a Marine base into a smart microgrid system. Under the contract, GE will set up a smart microgrid system for the Twenty Nine Palms Marine Base in the Mojave Desert. The smart microgrid system will improve energy efficiency at the base using a GE microgrid controller that utilizes advanced algorithms and decision engines to ensure that … Read the rest
This morning Citigroup is upgrading MEMC Electronics (WFR) from Hold to Buy, added to its Top Picks and raised the price target to $24 (a 50% premium over the current price).
Hat tip to Notable Calls for the following notes (read full article for more detail)
– Starting to reap meaningful cost reduction in poly operations
– plunging poly prices already built into the stock and it will recover long before poly prices … Read the rest
A-Power Energy is best known for their wind turbine biz but quietly have been pursuing and winning work to build biofuel facilities which we reported here several weeks ago. This morning they are announcing a potentially huge partnership deal with Macau Natural Gas, to construct an offshore liquid natural gas (LNG) complex to import, store and re-gasify LNG to help power the casino mecca Macau. A-Power’s industry alliance Shenyang Power Group, which it owns … Read the rest
The US government announced today that they’ll soon begin accepting applications for around $3 billion in government funds to spur development in renewable energy across the country. Previously, companies could file for a tax credit to cover a portion of development costs, but this provides an immediate infusion of cash to help meet the government’s goal of doubling renewable energy production over the next 3 years.
“This partnership between Treasury and Energy will enable both … Read the rest
Quantum Fuel Systems (QTWW) announced yesterday it has signed a $10.2 million contract for the last phase of development of its Q-Drive plug-in hybrid powertrains for Fisker Automotive, readying it for larger scale production next year. Quantum has developed an advanced version of the Q-Drive system to maximize performance of both the Fisker Karma and Sunset plug-in hybrids, enabling a 50 mile “all electric” drive and outstanding fuel efficiency in hybrid mode. In this phase … Read the rest
According to this report on TradingMarkets.com, Canadian Solar just announced that it will sell solar cells manufactured at its Chinese plant in Japan starting in the fall of this year. The company has set a goal for itself to sell 12,000kw of solar cells each year in the Japanese market. They plan to achieve this goal through supply contracts with Japanese sales companies like Green Tec. Green Tec will offer Canadian Solar’s solar panels … Read the rest
Ascent Solar just announced that its Copper, Indium, Gallium, Selenide (CIGS) monolithically integrated solar panel modules have achieved greater than 10% conversion efficiency. Ascent’s standard, 29 square centimeter modules were independently tested at the US Department of Energy’s National Renewable Energy Laboratory (NREL), where they achieved conversion efficiencies as high as 10.4%.
In a press release, leaders from both Ascent and NREL offered commentary on the achievement:
Dr. Prem Nath, Sr. Vice President of … Read the rest
It’s being announced this morning that electric car manufacturer ZAP (OTC:ZAAP) will offer extended ranges and more vehicle power by incorporating Advanced Battery Tech’s (ABAT) large-format polymer lithium-ion battery technology. The company expects to use the technology in its popular line of Zappy3 electric scooters initially, then incorporate into other vehicles later. The battery may play an important role in ZAP’s extended range pickup, the shuttle van and the Alias roadster, offering better performance … Read the rest
According to StreetInsider.com, both Trina Solar (TSL) and Yingli Green Energy (YGE) are being downgraded today by Hapoalim Securities
YGE gets a downgrade from from Buy to Hold and a lower price target at $8 due to oversupply, inflated inflated valuations, high expectations priced in and limited US/China demand this year. Considering all the financing and stimulus packages coming out of China, I’m surprised they would be cautious on China demand. I think the … Read the rest