According to StreetInsider.com, Piper Jaffray analyst Jesse Pichel has commented on the solar stocks that are related to the Lehman bankruptcy, saying that Sunpower (SPWR), JA Solar (JASO) and Evergreen Solar (ESLR) are negatively affected with respect to prior convertible bond transactions and stock lending agreements. The firm said it would be prudent to assume the worst.
On JASO: “We estimate JASO would realize ~4% dilution on stock and incur a non-cash write off … Read the rest
Clean Energy Fuels, the natural gas refueling company owned by T. Boone Pickens, announced yesterday that it has made an agreement with official Seattle trash-collection company CleanScapes. Under the terms of the 10-year agreement, Clean Energy Fuels will build and operate a natural gas refueling station to service CleanScape’s vehicles. Like contractors in cities across the country, CleanScapes wants to upgrade its fleet to use vehicles that produce fewer emissions. The company plans to buy … Read the rest
Greenhunter Energy has completed an initial assessment of the damage Hurricane Ike caused to its Renewable Fuels Campus in Houston, Texas. Greenhunter’s Renewable Fuels Campus is home to their 105-MMGY biodiesel refinery, the largest in the country. Ike knocked out power and caused extensive flooding in the Houston area, and the campus sustained the following damage:
Quantum Fuel Systems Technologies Worldwide Inc announced a deal between Asola, the company’s German partner, and Q&Tech/Yongsan Inc, a South Korean manufacturing company. Under the agreement, Asola and Q&Tech will enter into a joint venture to build a manufacturing plant in South Korea. Q&Tech will then produce and distribute Asola’s German-designed solar components.
South Korea is a fast-growing solar market, and this deal allows Asola to market its parts there. The plant will conform to … Read the rest
Shares of both Evergreen Solar and JA Solar have experienced significant loss in value over the past couple of days due to their dealings with now-bankrupt investment banking giant Lehman Brothers. In June, Evergreen Solar lent Lehman Brothers 30,856,538 shares for hedging transactions, and buyers are afraid that Evergreen won’t get the money back for those shares. Prices dropped by $1.70/share yesterday, down to $4.60.
Michael El-Hillow, Chief Financial Officer, released the following statement… Read the rest
Otter Tail Corporation announced today that is offering 5,000,000 shares of common stock to the public in order to finance the expansion of existing wind farms and the construction of a new wind farm. The proceeds from the offering will provide the company with funds for the construction of the Ashtabula Wind Center in North Dakota and the expansion of existing facilities in Oklahoma and North Dakota.
The company also updated its expected earnings per … Read the rest
This fall, Californians will vote on two ballot measures related to alternative energy generation, Proposition 7 and Proposition 10. Although measures encouraging alternative energy generation would seem to be a no-brainer in California, these measures have received a lot of opposition from smaller alternative energy companies and environmental groups.
Proposition 7 would require utility companies to generate half of their power from renewable sources by 2025. On the face of it, that seems like a … Read the rest
Toyota Motor Corp has teamed up with European energy company EDF Energy to begin testing plug-in hybrids on UK public roads. EDF will assist with the tests by building charging ports where drivers can plug in their cars and top off their batteries. Toyota has run several other tests of plug-in hybrids in other countries. Although most tests have involved vehicles using nickel-metal hydride batteries, they are also trying to develop hybrid cars that use … Read the rest
Trina Solar announced that it has signed a 2-year sales agreement with Invictus NV, a Belgian company. Under the agreement, Trina Solar, a prominent manufacturer of solar photovoltaics, will supply Invictus with 20 MW in 2009 and 30 MW in 2010, with an additional 10 MW option for each of those years.
Arturo Herrero, Trina Solar’s Vice President of Sales and Marketing, commented on the deal, saying:
… Read the rest"We look forward to continue working with Invictus,
LDK Solar announced that is has signed an 11-year service agreement with Q-Cells AG, a German company. Under the agreement, LDK will process Q-cells upgraded metallurgical grade solar grade silicon and turn it in to multicrystalline solar wafers. LDK will make wafers out of a minimum of 20,000 metric tons of Q-Cells’ silicon from 2008-2018, and will have the option to process an additional 21,000 tons.
Xiaofeng Peng, LDK Solar’s Chairman and CEO, commented on … Read the rest