According to StreetInsider.com, Rodman & Renshaw is out this morning with an analyst note on Raser Technologies (RZ) and initiating coverage with a Market Perform/Speculative Risk rating. The highlights:
– company has compelling geothermal resources and relevant technology – will benefit from renewable energy mandates – unique modular deployment – capital intensive nature of the business which needs financing may weigh on the stock in the current environment – company still fine tuning its … Read the rest
Exelon and Sunpower just announced that they will work together to build the largest urban PV plant in the country in Chicago. The plant, which will be capable of generating 10MW of solar power, should be up and running by the end of this year. The plant will be located on a brownfield property, putting that property back into productive use.
The plans hinge on Exelon receiving money from the federal stimulus program for the … Read the rest
Bye Aerospace just signed a memorandum of understanding with Ascent Solar Technologies for the development of thin-film solar technologies that could be used in aviation. Bye Aerospace intends to start testing Ascent’s thin-film PV technologies in aircraft by the end of the year.
In a company press release, Dr. Joseph Armstrong, Chief Technical Officer of Ascent Solar, commented on the announcement, saying
“Applications such as those being developed by Bye Aerospace are able to utilize … Read the rest
OK, this is a great example of an earnings report that can be reported positive by one news outlet (the mainstream) and reported negative by me after one time gains are removed. You’ll find that most news outlets report the GAAP number which includes one time gains and losses, distorting the true organic growth or deterioration of a company.
Analysts had predicted that MEMC Electronics (WFR) would report its first quarterly loss since 2002 in … Read the rest
Update: Now it’s being dumped after hours.. down about 10%.
Sunpower (SPWRA) is out with earnings after the bell and missed badly reporting non GAAP EPS of just .05 share vs consensus estimates of .39. Revenues came in about 20% lower than the year ago quarter at $214 million which is considerably lower than estimates of $269.
The CEO commented that the quarter was the most challenging in its history, but despite the headwinds was … Read the rest
Piper Jaffray is also initiating coverage on American Superconductor (AMSC) today which has looked very bullish in recent weeks but getting a bit extended. It’s up again today. Piper is out with a Neutral rating and price target of $22.
Analyst notes:
– company well positioned to benefit from govt mandates to grow wind energy in China – customer concentration risk is significant with 67% of revenue from Sinovel in China – China economic stimulus … Read the rest
According to StreetInsider.com, Piper Jaffray is initiating coverage on Suntech Power (STP) today with a Neutral rating and a price target of $13. It calls the company’s current overcapacity, distressed balance sheet and lower utilization a reason to stay on the sidelines until a meaningful pull back in the stock. They believe unabsorbed overhead and lower margin will persist through 2010. On the bright side, they believe the company is a cost leader vs … Read the rest
When you think of renewable energy leadership at the state level, you typically think of California but Utah is making some announcements this morning indicating they want to join the party.
At Raser Technologies (RZ) Hatch geothermal plant in Thermo, Utah governor Jon Huntsman signed two renewable energy bills that will aim to upgrade the electrical grid and provide tax incentives to green projects.
Senate Bill 76 establishes a Renewable Energy Transmission Authority which will … Read the rest
SunPower (SPWRA) will begin supplying its high efficiency solar panels and Tracker technology beginning next year to FPL Group (FPL) it was announced today. It’s also being announced that the the company will locate a research and development center employing up to 50 employees in Florida if the state government continues to support the deployment of additional solar energy. This is follow on work to previous partnerships. No word on the size of this deal. … Read the rest
By considering a low-carbon fuel initiative, California has managed to anger ethanol producers and petroleum companies in one fell swoop. The California Air Resources Board is debating the implementation of new fuel standards that would require the state to reduce the carbon content of its fuels by 10 percent. The deadline for accomplishing this feat would be 2020.
Oil producers are upset at the proposed rules because they do not believe that there will be … Read the rest
Green Alternative Energy Stocks – Solar, Wind, LED Lighting,Smart Grid, Electric/Hybrid Cars, Wave Energy, Green Building, Biofuels & Geothermal