Needham & Company has initiated coverage on Comverge (COMV) with a Buy rating and $14 price target. Shares of COMV could use a boost. They remain in a down trend and there is resistance all the way up to the 11.15 level of the 200 day moving average. Hat tip to Street Insider for the following analyst comment:
“Overall, we view Comverge’s strong presence in US residential demand response (along with its building presence in … Read the rest
Ah, here we go again with more subsidy cut rumors. This time it’s Spain. While rumors have been swirling for months that Spain would cut subsidies, Bloomberg reported today that an industry lobbyist believes that Spain will make substantial solar subsidy cuts to both existing solar installations and new installations following a meeting Spain’s Deputy Industry Minister Pedro Marin. I agree that cutting subsidies on future solar installations is healthy and an important part of … Read the rest
Fly On The Wall reported this morning that the German government will meet today in an attempt to agree on a unified plan for the reduction of the German FIT according to Collins Stewart. The lower house passed legislation in May calling for a 16% reduction to the roof-top FIT and a 15% cut to the FIT for ground based systems. Collins Stewart doesn’t expect any changes to come out of today’s meeting.… Read the rest
Spain’s top energy company and one of the world’s largest utility companies, Iberdrola, has selected Itron’s (ITRI) smart meter technology for the first phase of its smart meter rollout. Itron will provide the development and integration of the smart meters and the data management software to go with it. The initial deployment calls for 100K meters in the city of Castellon, Spain to be completed by the end of this year with the potential for … Read the rest
Orion Energy Systems (OESX) announced that on June 1 it was issued two new patents for its efficient exterior lighting technology, which reduces energy consumption by up to 50% when compared to current lighting found in 96% of parking lots (according to a study done for the DOE). It should be noted that this is not LED technology. Orion’s systems improve upon traditional fluorescent lighting and incorporate intelligent wireless control systems as well as solar … Read the rest
SunEdison, a subsidiary of MEMC Electronic Materials, just announced that it has purchased 2 solar PV projects from TransAlta. The projects are located in Ontario, and SunEdison will finance, build, own, operate, monitor and maintain them once they are completed.
The first site will be a 10-MW project under the Renewable Energy Standard Offer Program. The second will be part of Ontario’s Feed-in-Tariff (FIT) program. The Ontario Power Authority will purchase power from both projects.… Read the rest
The CBOE IPO is the hot IPO on everyone’s radar today, but in a couple weeks all eyes will be on the Tesla Motors IPO. The much hyped electric car maker with big name investors such as the Google founders, the Abu Dhabi government, Daimler and even the US government behind it, hopes to raise another $178 million through the IPO. Toyota Motors (TM) will inject another $50 million in the stock upon a successful … Read the rest
Ormat Technologies (ORA) today announced that its subsidiary, Puna Geothermal Venture completed the drilling and the mechanical cleaning of the production wells at the Puna Geothermal Power Plant located on the Big Island, Hawaii. The plant is now back at full production.
Shares of ORA are up nearly 2% today and sure look compelling down here. Over the last several weeks, the Israeli parent company Ormat Industries, has been buying up shares left and right.… Read the rest
Several analyst rating notes to make you aware of today. Hat tip to Street Insider for the analyst notes.
Needham & Company has initiated coverage on AONE, HEV and VLNC.
Initiated coverage on A123 Systems (AONE) with a Hold rating and $10 price target. “Although we believe that A123 Systems has the potential to be a successful company in the long term, there are several near-term risks that could negatively affect AONE shares. The intellectual … Read the rest
Auriga is out this morning with some notes on the solar industry after attending Intersolar in Munich, Germany. The firm believes industry fundamentals remain strong with robust European demand being driven by attractive rates of return on solar projects. They believe that as long as project returns are attractive, and both debt and equity financing remains available, demand for PV projects will continue to surprise versus the bearish outlook.
Here are more notes from the … Read the rest