The purchase of a minority stake in Asia Silicon. The company paid $8.1 million to one of Suntech’s existing shareholders to buy a stake in the company. Suntech already has a supply agreement with Asia Silicon to buy up to $1.5 billion worth of high-grade polysilicon from Asia Silicon over the next years.
Zhengrong Shi, Suntech’s chairman and CEO, commented on the deal:
… Read the rest“We are very pleased to cement our relationship with Asia Silicon. Asia
Suntech Power (STP) reported a large loss of .27/share last quarter which matched estimates but beat revenue expectations with $414 million in revenue, a small bump up from the year ago quarter.
“We believe that we are now in a position to service all avenues of solar demand globally, including residential roof-top, commercial roof-top, ground mounted and utility scale. In particular, our continued investment in the U.S.should position us for strong growth in that key … Read the rest
SunPower just announced the completion of Australia’s largest rooftop solar installation. The installation consists of 350 KW worth of solar panels mounted on the roof of the Crowne Plaza Hotel rooftop in Alice Springs.
Bob Blakiston, SunPower Australia’s managing director, commented on the accomplishment:
… Read the rest"We are proud that Invest North chose SunPower’s high-efficiency solar panels to help power its flagship hotel in Australia. This installation is a testament to the growing adoption of solar energy
Trina Solar announced today that its 4th quarter revenues should exceed the company’s forecasts of $190 million to $210 million. The company will also reduce its short-term debt to $249 million, a decrease of $41 million dollars.
So, that’s the good news. The bad news is that the company expects weak margins for the 4th quarter. Reuters has the details:
… Read the restTrina said in a statement it would take a charge of between $16 million to
Now that Congress has approved the economic stimulus package (aka the American Recovery & Reinvestment Act) with Obama expected to sign it into law on Tuesday I thought I’d give a run down of what’s in this bill related to green energy initiatives.
Overall, nearly 10% of the entire bill provides funding and tax credits for green energy related projects.
* $11 billion in spending and loan guarantees to build a “smart grid” to move … Read the rest
PPL Energy PLus, a division of PPL Corp (PPL) announced it has signed an agreement with Sunpower (SPWRA) to purchaxe New Jersey Solar Renewable Energy Certificates (SRECs) over the next next 10 years.
SRECs are certificates representing the energy benefits generated from solar energy and are issued each time one MW hour of electricity is generated. They can then be sold or traded. PPL will purchase SunPower SRECs which provide them with the funds needed … Read the rest
Yesterday JA Solar (JASO) announced a supply deal with BP Solar International in which JASO will supply BP with an initial 175MW of monocrystalline and polycrystalline solar cells this year and could reach as much as 360MW over the course of the yaer. … Read the rest
StreetInsider.com reports that MEMC Electronic Materials has amended its supply agreement from July 25, 2006 with Suntech Power. Under the agreement, MEMC Electronic Materials agreed to sell silicon wafers to Suntech for a period of 10 years. The change to the agreement does not alter the aggregate revenues for sales at all. Rather, MEMC has agreed to a volume increase for this year’s sales and a price reduction. … Read the rest
JA Solar (JASO) is down nearly 10% in after hours trading after cutting estimates for 2009. The company said that due to macro economic conditions and tight credit markets, revenues are expected to be softer than expected and in the range of $830 – $952, vs the consensus estimates of $1.12 billion.… Read the rest
Are the tides turning for the solar industry? After months of doom and gloom forecasts, downgrades and price target cuts some upgrades and positive notes are beginning to slowly trickle in from analysts. Ah oh, time to sell!
Barron’s reported today that Merrill Lynch came out with a report today saying that improving second derivative trends suggest the industry is headed for a cyclical bottom. They went on to say that while demand won’t recover … Read the rest