Fuel Systems Solutions, Inc. announced today that it will be acquiring Distribuidora Shopping S.A. through its Italian subsidiary MTM S.r.L.. Distribuidora Shipping makes the Tomasetto Achille brand components for compressed natural gas vehicles. The deal, which should be completed in January, is for $22 million, "subject to adjustment for any closing indebtedness." Also, under the agreements shareholders will receive $10.0 million of Fuel Systems common stock.
Matthew Beale, Fuel Systems Solutions’ president, commented on the … Read the rest
Suntech Power announced that it has been selected to provide solar power for the World Expo 2010 in Shanghai. According to the bid, Suntech will "supply, design and install building integrated photovoltaic systems with a total capacity of 3MW on the China and Theme Pavilions." Suntech’s solar power installation should be completed by September of next year, and will be China’s largest BIPV solar power system. … Read the rest
AeroVironment (AVAV) is announcing today that Balqon Corp (OTC:BLQN) has purchased its PosiCharge fast charge system for its fleet of heavy duty electric trucks used at the Port of Los Angeles for moving ship containers. The PosiCharge fast charge system developed for heavy duty electric yard tractors can charge up to 4 heavy duty Balqon trucks at a time, which allows the port to increase the use of electric vehicles ultimately reducing emissions. The PosiCharge … Read the rest
Constellation Energy has accepted EDF’s offer to buy almost 50% of their nuclear business for $4.5 billion. They are withdrawing from their planned merger with MidAmerican Energy Holdings, which was going to buy the entire company for $4.7 billion. Constellation and Mid-American jointly terminated the merger agreement so that Constellation could go for the higher price offered by EDF.
MidAmerican’s Gregory Abel commented on the events:
Trina Solar is launching a new brand of Upgraded Metallurgical Grade ("UMG") silicon-based solar modules and products. The brand will be called MeSolar, and is an attempt to address consumer demand for solar products that offer both reliability and cost savings.
Arturo Herrero, Trina Solar’s Vice President of Sales & Marketing, explained the new brand strategy:
The product line is part of Trina Solar’s strategy to expand its product portfolio in order to address customers’
Many of the downgrades and earnings misses in the solar names over the past several months have come in part due to the strengthening dollar as much of the sales for these companies are denominated in Euros. Barron’s is reporting that Barclay’s Capital analyst Vishal Shah says First Solar (FSLR), SunPower (SPWRA/SPWRB) and the Chinese solar companies stand to benefit the most. A continued weakening of the dollar along with an Obama presidency certainly could … Read the rest
It was a very good day for solar stocks, particularly for First Solar (FSLR) which surged above its 50 day moving average for the first time in 4 months and continues to look like it put in a bottom down there around 100. I said on October 31st, that if you can get it anywhere close to 100, it’s one heck of a buy.. now I think if you can get it close to … Read the rest
AES Geo Power, a Bulgarian company owned by AES Corporation, signed an agreement to finance a 52-turbine, 270 million Euro wind farm in Bulgaria. Out of the total cost, 198 million euro will be financed by a group of banks including European Bank for Reconstruction and Development, the World Bank’s International Financial Corporation and Italian bank UniCredit SpA (UNCFF).
Construction of the wind farm is expected to be completed in the latter half of … Read the rest
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