First Solar (FSLR) announced earlier today that ACME of India will purchase 15MW in thin film solar modules for a solar plant in the state of Gujarat. First Solar sees India as a potentially large solar market. Delivery is expected in March 2011.
First Solar VP TK Kallenbach commented: “We see India as a land of immense opportunity and potential. We are pleased to collaborate with a leader like ACME to contribute to the … Read the rest
Piper Jaffray reiterated its bullish stance and hefty price target on First Solar (FSLR) this morning. The firm believes FSLR will guide higher for 2011 during an investor call on December 14th and that its North American project business will shield it from Euro exposure and declines in ASP. The firm estimates revenue of $3.9 billion and EPS guidance of $9.94 which is well ahead of consensus.
GT Solar (SOLR) continued its big surge off the bottom after announcing the first orders for its LED manufacturing equipment. Today, the stock got another boost when Wunderlich Securities said the company is way undervalued and would be an attractive buy out. The firm notes that SOLR has among the lowest PE ratios in the solar sector, just ahead of JA Solar (JASO). Ah, but the beauty of this company is that they are … Read the rest
Shares of New Energy Systems (NEWN), a China lithium battery play, got a nice pop today on news the company has raised guidance roughly 10% which they feel is still conservative. Here’s how it breaks down.
2010 revenue guidance raised from $88 million to $95 million
2010 adjusted net income raised from $15.6 million to $18 million
2010 adjusted EPS raised from $1.23 to $1.40.
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Clean Energy Fuels (CLNE) is looking to continue to build out its LNG fueling infrastructure in the US and the announcement of the Wyoming Northstar acquisition this morning will help. CLNE will pay $7.4 million at closing with the balance paid in yearly installments until 2015. I don’t see the total acquisition cost.
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“Having Northstar, the premier LNG station provider, in our group will … Read the rest
Shares of Suntech (STP) are continuing to build on last week’s strength after the company increased guidance for this year and next. They now expect 2010 revenue of $2.78 – $2.83 billion which is ahead of the Street estimate of $2.7 billion. For 2011, Suntech expects to ship at least 2.2GW of solar products and generate revenues of $3.4 billion to $3.6 billion. The Street was estimating $3 billion. EPS is estimated to be $1.40 … Read the rest
Cree Inc (CREE) has announced the XLamp CXA20 LED array designed to accelerate the LED lighting revolution, providing 60 watt A-lamp equivalent output but consuming just 11 watts.
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“Cree continues to bring the broadest family of lighting-class LEDs to market, ensuring that lighting applications have optimized LED light sources,” said Norbert Hiller, Cree vice president and general manager, LED Components. “For lighting manufacturers seeking Cree … Read the rest
EnerNOC (ENOC) announced it has entered into a definitive agreement to acquire Global Energy Partners, expanding its existing demand response portfolio. GEP is headquartered in California and employs 55 with customers that include PG&E, So Cal Edison, Bonneville Power and other utilities across the US. The acquisition is expected to close in early 2011 and be accretive to earnings the following year. Financials of the deal were not disclosed.
MEMC Electronic Materials (WFR) announced it will partner with Flextronics (FLEX) to produce solar panels at a Flextronics facility in Ontario beginning in a few months. The panels will be used my MEMC subsidiary SunEdison for projects in Ontario and the arrangement allows the company to capitalize on Ontario’s feed in tariff program which requires 60% of the materials to be produced locally. The production is expected to create around 100 jobs.
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Yingli Green Energy (YGE) got a lift this morning on positive comments out of Wells Fargo and is also helped by news that it has been selected as a major solar module supplier for the Golden Sun Program which is the China governments plan to accelerate the use of solar energy in the country. They recently announced a plan to expand the Golden Sun portfolio to 1GW within two years. Last month 272MW in solar … Read the rest