Clean Energy Fuels (CLNE) and Hertz (HTZ) announced an agreement yesterday to partner on a CNG fueling station on property adjacent to LAX airport. The fueling station will be open 24/7 and provide public access (taxis and hotel transportation) as well as support the expanding CNG fleet of Hertz airport shuttle buses. Construction is expected to begin this spring and open about six months later. Hertz believes it can transition its entire LAX transit bus … Read the rest
All posts by Tate Dwinnell
SunEdison/MEMC (WFR) & Xcel Energy (XEL) Break Ground On 54MW In New Mexico Solar Projects
SunEdison, a subsidiary of MEMC Electronic Materials (WFR), and Xcel Energy (XEL) have broken ground on 54MW in solar projects in New Mexico. The project will cover five separate sites in two counties and are expected to be completed by the end of next year. SunEdison will build, finance and maintain the projects while Xcel Energy will ultimately purchase the electricity under a 20 year power services agreement. The projects help the state reach its … Read the rest
Rubicon Technology (RBCN) Opens Sapphire Wafer Production For LEDs In Malaysia
Rubicon Technology (RBCN) has opened its first manufacturing facility outside of the US. The manufacturer of sapphire substrates for the LED industry has opened a facility in Malaysia to better cater to the Asian LED and consumer electronics market. Research firm iSuppli believes the global LED market will double in the next three years driven by increased LED adoption in the general lighting market. Much of the LED growth up to this point has been … Read the rest
Royal Philips (PHG) First To Mass Produce 150mm LED Wafers
Philips Lumileds, the LED division of Royal Philips (PHG) has announced it’s the first company to mass produce the larger 150mm wafers used for LEDs. The larger wafers allow for 4x the number of LEDs as the old 3 inch wafers and is a key advancement to accelerating the production of LEDs for the lighting revolution. The increased output and greater efficiency will help drive down costs, acceleration adoption.
More Analyst Reaction To First Solar (FSLR) Guidance, Generally Neutral/Slightly Bullish
UBS maintains its Buy rating and increases the price target from $150 to $160. The firm increases its 2011 and 2012 EPS estimates from $8.80 and $9.50 to $9.15 and $10.00.
Needham & Company upgraded from Underperform to Hold but indicated the valuation remains rich and investors should focus on solar stocks with lower multiples such as JA Solar (JASO) or LDK Solar (LDK).
JP Morgan raised the price target from $105 to $115.
Jefferies … Read the rest
Auriga Maintains Buy On First Solar (FSLR), Lowers PT A Bit
Auriga is out with some notes on First Solar (FSLR) following the company’s guidance last night. The firm notes that the company issued guidance that beat consensus estimates and the whisper numbers which should be viewed positively by the Street. Auriga continues to see FSLR as a long term investment rather than a trading vehicle and maintains its Buy rating. The price target however declines just a bit from $175 to $167 as industry … Read the rest
Trina Solar (TSL) Expects Strong 2011, Sees Shipments Doubling In US Market
Trina Solar (TSL) is out this morning indicating that 2011 will be another good year for the company. CFO Terry Wang told reporters at a Reuters conference that he expects any slowdown in Europe next year to be neutralized by a pick up in US orders. In fact, the company not only doesn’t see a slowdown next year, but expects gross profits and net profits to accelerate and an increase in their global market share … Read the rest
NRG Energy (NRG) To Purchase First Solar’s (FSLR) 290MW Agua Caliente Solar Project
More good news for First Solar (FSLR) tonight. In addition to posting strong guidance for next year, the company is announcing that NRG Energy (NRG) will purchase its 290MW Agua Caliente project in Yuma, Arizona. The project when completed in 2014 is expected to be the largest operating solar farm in the world and provide clean electricity to nearly 225,00 homes. It should be noted though while all permits have been received and early construction … Read the rest
First Solar (FSLR) Posts Strong 2011 Guidance, Shares Up
The great divide between the bearish analysts who see a difficult 2011 for solar and the CEOs of these solar companies who see another good year in 2011 continues. This afternoon it was First Solar’s (FSLR) turn to bang the bullish drum and issue strong guidance for 2011. The company sees 2011 EPS in the range of $8.75 – $9.50/share which is ahead of the analysts consensus estimate of $8.60/share on revenues of $3.7 … Read the rest
A-Power Energy (APWR) Retracts GE Statement, Is Confident In Partnership
A-Power Energy (APWR) is retracting a statement it made during its last earnings conference call regarding their joint venture with General Electric (GE) and the wind turbine gearbox being designed by GE for APWR. During the call the CEO said they were in talks to buy GE China’s interest in their joint venture that makes wind turbine gearboxes, and would terminate a related supply deal with the U.S. firm. Now the company is retracting the … Read the rest