China Ming Yang Wind Power (MY) has announced they have signed a memorandum of understanding to cooperate on a series of proposed wind energy projects with the provincial government of Hebei, a province in Northern China. The initial agreement provides designated land from the local government for Ming Yang to develop and there are likely financial incentives for opening up supply chains for wind power equipment and wind/solar hybrid storage solutions.
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Jefferies has a Buy rating and a $41 price target on American Superconductor (AMSC) and believes it’s the best wind play in China since its largest customer is Sinovel which is the #1 wind energy company in China.
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Wells Fargo is out this morning with several solar calls and is mostly bearish. They upgraded Yingli Green Energy (YGE) from Market Perform to Outperform citing low production … Read the rest
JA Solar (JASO) won’t have a problem finding materials for solar panel production over the next five years. The company just signed a big 10GW supply deal with GCL-Poly for a five year period.
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“We are very pleased to strengthen our long-term strategic partnership with GCL-Poly, China’s largest polysilicon manufacturer and a global leader in solar wafer manufacturing,” said Mr. Jian Xie, Chief Operating Officer … Read the rest
SunPower (SPWRA) signed a contract to work with E.ON Climate and Renewables Italia Solar to design and build a 3.4MW solar power plant in Italy’s Lazio region using ground mounted systems with tracking technology. Construction on the plant will start this year and is expected to be completed in April 2011.
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“E.ON, a recognized global leader in the development of renewable energy, understands that SunPower technology … Read the rest
Shares of Enernoc (ENOC) popped about 10% yesterday on news that it will participate in the UK Power Networks Low Carbon London project which is a three year “smart city” initiative. ENOC will be providing its DemandSMART systems to commercial and industrial users around the city of London. The project will also incorporate the use of electric cars, heat pumps and smart meters.
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“Demand response is … Read the rest
SunPower (SPWRA) announced yesterday that it’s building solar power systems at two California water plants in San Diego – the Fallbrook Public Utilities District and the San Juan Water District. The ground mounted solar systems using tracking technology are expected to be fully operational within a few months.
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“SunPower is very experienced in working with water agencies, and assisted us with obtaining the QECBs and making … Read the rest
Auriga posted a few more solar calls recently. This morning they initiated coverage of ReneSola (SOL) with a Buy rating and a $20 price target which is more than double the current level ($8.40). The believe sentiment is overly negative on this China solar leader. The firm notes that SOL benefits whether poly prices stay high (by focusing on wafering operations) or if module prices move lower (by sourcing more modules with its low cost … Read the rest
Auriga is out today reiterating the Buy rating and $20 price target on Daqo New Energy (DQ). The firm believes the company is on schedule to produce 850MT of polysilicon in Q4 which is the top end of guidance and sees poly prices holding firm at $75/kg. They see little downside risk to the shares at the this level and believes the stock has been unjustly punished since reporting earnings. After a slow start today, … Read the rest
Less than six months ago GT Solar (SOLR) made a key purchase of Crystal Systems that has allowed them to move from strictly offering solar manufacturing equipment to LED manufacturing equipment as well. It’s already paying off. The company has announced that it received its first orders totaling $84 million for its sapphire crystalization systems used for LED production.
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“GT Solar is pleased that both Jiangsu … Read the rest
Kandi Technologies (KNDI) is reporting that following the grand opening of Jinhua City’s first battery charging and replacement farm, consumer sales of its all electric car have begun and the company immediately sold out of the first 20 that were available. The all electric Model KD5010 is aimed at city driving with a compact size and price tag of just under $6K. It aims to be a key component in the electric car revolution in … Read the rest