According to StreetInsider.com, Deutsche Bank upgraded Canadian Solar (CSIQ) from HOLD to BUY with a $45 price target due to valuation after the recent sell off.
“We are upgrading CSIQ to Buy (from Hold) following a substantial retracement in the stock, an improved operational outlook (i.e. GM reset to mid-teens, traction in UMG-Si based e-modules, no data to de-rail the UMG-Si argument over the near-term, capital raise and capacity expansion through 2010), and a … Read the rest
United States has become the world’s largest generator of wind energy.
“Our wind energy capacity is growing faster than anyplace else,”
said Randall Swisher, the executive director of the American Wind Energy Association, the national trade organization for the wind energy industry. “So it’s no longer really alternative energy. This is very mainstream.”
During the first half of 2008, the United States generated more wind energy electricity than Germany for the first time, despite … Read the rest
GT Solar (SOLR) may be great at getting solar manufacturers up and running but in terms of IPO timing it fails miserably. The stock debuted today and did price in the middle of the expected range at $16, raising $500 million, but did so at a time when solar stocks have been getting crushed. The stock closed down more than 10% to $14.45.… Read the rest
First Solar (FSLR), the thin film module maker came out with news this morning that it’s building a 10MW solar plant in Nevada for Sempra Energy with construction already under way and expected to be completed by the end of the year. Sempra will own and operate it upon completion.
As the rest of the solar plays get hit today, FSLR is trading up nearly 3% (the only solar stock up today) and continues to … Read the rest
AeroVironment (AVAV) was downgraded to Hold this morning by BB&T and the stock is selling off a bit on the news but holding at key short term support around 30 (the 20 day moving average). … Read the rest
MEMC Electronic (WFR) is having a rough morning. The stock is down around 20% and now more than 50% off its Dec 2007 high after reporting disappointing earnings results. The company reported EPS of .92/share which missed estimates of 1.00 and also missed on revenues by reporting 531 million (analysts expected 558). The CEO tried to put a positive spin on it:
“MEMC grew sales by 6% sequentially, expanded gross and operating margins by 150 … Read the rest
The Financial Times reported today that the board of the Inter-American Development Bank is set to approve a 15 year loan of $250M to three new ethanol plants. Despite the growing environmental concerns about biofuels this will be the biggest development ever by a multilateral intuition. The new ethanol project will cost over $1bn and will be built by Santa Elisa Vale Do Rosario, a Brazilian company, and US private equity groups.
"Steady rises in … Read the rest
A look at Sun Microsystems (JAVA) eco-technologies being invented at Sun Microsystems, such as energy-efficient data centers, and the company’s OpenWork program, which allows employees to work from anywhere at anytime. … Read the rest
The Canadian government has agreed to give Suncor Energy’s (SU) St. Clair Ethanol Plant a $25 million investment to double its current production according to sustainablebusiness.com. The plant should be completed by the end of 2009 and has received equity investment from farmers totaling $12.5 million.
This will be the fourth biofuel plant funded under Canada’s ecoABC initiative. "The Government of Canada is investing a total of $2.2 billion over nine years toward … Read the rest
ZDNet looks at how PG&E is working to deliver clean energy to its customers. Innovations include a unique solar installation at the company’s headquarters, a hybrid-electric service truck, and emerging renewables from biogas to wave energy.… Read the rest