American Superconductor (AMSC) & Hyundai Heavy Industries announced today that they have expanded their existing joint venture relationship to include the collaboration on a 5MW wind turbine for use in offshore wind farms. Once HHI begins production near the end of next year, they will purchase the necessary electrical components from AMSC.
AMSC already licenses wind turbine designs to HHI for the 1.65MW and 2MW systems. The 1.65MW systems are currently in volume production and … Read the rest
Evergreen Solar just announced the release of a new product line featuring its BOOST (TM) technology for improved efficiency. The new ES-D and ES-E series will feature this technology, which uses microwires instead of bus-bars to create a more attractive panel that produces more electricity.
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In a press release, Scott Gish, Evergreen Solar’s Vice President, Sales and Marketing, commented on the news:
“ The new … Read the rest
Trina Solar (TSL) is popping this morning after it was announced it landed a solar supply deal with one of the largest US utilities, Southern California Edison, and has already begun shipping PV modules. Trina will ship 45MW in solar modules over the course of the next year to be used by SoCo Edison on commercial rooftops. SoCo Edison was authorized by the Cali Public Utilities Commission to cover up to 65 million sq feet … Read the rest
Good news and bad news for First Solar (FSLR) today. While the company announced its intent to double capacity at the Frankfurt, Germany plant, the stock is getting hit on the Citi and Hapoalim price cuts. The Citi price cut which I posted about earlier isn’t extraordinary, but the Hapoalim price cut to $65 is an eye opener.
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Hapoalim Securities believes that First Solar may eventually … Read the rest
Sunpower (SPWRA) announced this morning that it is building a 9.1MW solar power plant in Alange, Badajoz, Spain for the Naturener Group. It’s one of the largest to be built in Spain this year and the 5th that Sunpower has designed and constructed for Naturener. Naturener is using Sunpower’s tracker technology which follows the sun and provides up to 25% more energy than fixed systems. The cheaper, lower efficiency Serengeti solar panels are being used … Read the rest
GT Solar just announced a new $70 million contract with a large Asian polysilicon manufacturer. Under the terms of the agreement, GT will provide the manufacturer with new CVD equipment and other services related to the production on polysilicon.
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In a press release, Tom Gutierrez, president and chief executive officer of GT Solar, commented on the news:
"We are pleased to announce this new order for … Read the rest
Citi is out this morning maintaining its Hold rating on First Solar (FSLR), but lowered the price target from $135 to $125. Hat tip to Street Insider for the analyst comment.
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“We have long argued that EPS here will not start to meaningfully grow again until 2012, following three years of stagnating EPS (2009-2011). While we still rate the stock Hold, we continue to feel our … Read the rest
A123 Systems (AONE) announced last night an additional lithium battery supply deal with Navistar for the Navistar-Modec EV joint venture. It adds to the original lithium battery supply agreement announced in March.
A123 Systems will be manufacturing batteries for Navistar’s eStar electric vehicle which is a commercial use vehicle designed for frequent stops. A number of them have already been shipped to Fed Ex. No word on the financials of either deal, but it is … Read the rest
Schneider Power, which is a subsidiary of Quantum Fuel Systems (QTWW), announced it has signed a 20 year power purchase agreement with the Ontario Power Authority for wind energy produced by a new wind farm it’s developing in northern Ontario, Canada. The 10MW Trout Creek Wind Project is expected to be up and running within two years and create more than 40 jobs during the construction phase. It’s one of the first agreements to be … Read the rest
Needham & Company has come out with updates on their ratings of several solar stocks. Hat tip to Street Insider for the analyst comments:
Initiated coverage on First Solar (FSLR) with an Underperform and $92 price target.
“As the world’s largest producer of solar panels with the best cost structure, First Solar is benefiting from strong near-term demand and a growing pipeline of utility scale solar projects. However, we are concerned that margins will deteriorate … Read the rest