The best of breed solar companies continue to post strong results, but major headwinds will most likely come in the first half of this year. GT Solar (SOLR) posted outstanding results after the bell today, beating analyst EPS estimates by .06 with an EPS of .30/share. That compares with a .03 loss in the year ago quarter. Revenues soared over the year ago quarter as well coming in at 205.2 million vs just 14.7 million … Read the rest
Category Archives: Solar Energy
Akeena Solar (AKNS) To Develop AC Solar Panels
Akeena Solar (AKNS) and Enphase Energy have announced a partnership to develop and market the Andalay solar panel systems using ordinary AC house current output instead of high voltage DC output which are expected to cost less to install and provide higher performance than DC panels. Under the agreement, AKNS will purchase a minimum of 5000 microinverters in 2009 & 2010 which will be built into Akeena’s award winning Andalay solar panels.
AKNS estimates that … Read the rest
Constellation Energy (CEG) Completes McCormick Spice Mill Installation
Constellation Energy just completed a 1 MW solar power installation at the McCormick Spice Mill in Hunt Valley, Maryland. The plant will contribute enough energy to offset 30% of McCormick’s energy costs at that location. Here’s a description of the installation from PV-Tech.org:
… Read the restThe plant is comprised of 2,100 Solar World 175-watt crystalline solar panels and 92,000 square feet of lightweight, flexible thin-film photovoltaic material.
Constellation Energy’s Projects & Services Group carried out the
LDK Solar (LDK) Investors Receive Class Certification In Lawsuit
The class action suit against LDK Solar took another step forward last week when Judge William Alsup approved a class consisting of anyone who purchased LDK shares. According to Law360, the lawsuit alleges that "LDK Solar Co. Ltd. and its executives committed a massive securities fraud by inflating the value of the company’s inventory of raw materials and understating the costs of producing solar wafers, which are used in devices that convert sunlight into electricity." … Read the rest
Trina Solar (TSL) And GA Solar Sign Sales Contract
Trina Solar just announced a new sales agreement with GA Solar. Under the terms of the one-year contract, Trina Solar will provide 20 to 36 MW of PV modules to GA Solar throughout 2009. The modules will be sold at the prices specified in the agreement.
Mr. Arturo Herrero, Trina Solar’s Sales and Marketing VP, commented on the deal:
… Read the rest"We are excited to have entered into this sales agreement which affirms our successful long-term supply
SunPower (SPRWA, SPWRB) Beats Estimates, Shares Surge After Hours
Just two days ago, analysts from FBR, Thomas Weisel and Pacific Crest slashed estimates on SunPower (SPWRB, SPWRA) earnings for 2009 as they reiterated concerns of credit issues and slowing demand yet again. It’s the same song and dance that has played out for several months now. Those headwinds may play out in 09 but for now SunPower is proving itself to be relatively immune to those concerns. Today after the bell, the company reported … Read the rest
Suntech (STP) Signs Supply Deal With Standard Solar
Suntech Power Holdings Co., Ltd has signed a 1 year, 5 MW supply deal with Standard Solar, Inc. Under the agreement, Suntech will supply 5 MW of solar panels to Standard Solar this year. The companies have not disclosed the amount of money involved, nor what product Standard Solar will use these solar panels for.
Scott Wiater, Standard Solar’s VP of Procurement, commented on the deal:
… Read the rest"Partnering with Suntech, a top-tier manufacturer offering a broad
Hoku Scientific (HOKU) Reports Horrendous Quarter
Hoku Scientific (HOKU) is out with results after the bell today and they aren’t pretty. The company reported a non GAAP EPS loss of .03/share, a wider loss than the year ago quarter in which the company lost .01/share. Revenues were equally as awful, coming in at $767K.. good for a nearly 50% drop from the year ago period. Their outlook for next year doesn’t get any better with a projection of only $5 million … Read the rest
Analysts Slash Estimates On Sunpower (SPWRA, SPWRB) Ahead of Earnings
Sunpower (SPWRA, SPWRB) will report earnings on Thursday after the bell and analysts are rushing in to slash estimates ahead of the earning announcement. According to Barron’s, Friedman Billings Ramsay, Thomas Weisel Partners and Pacific Crest all issued warnings this morning.
– Mehdi Hosseini of FBR reiterated his Market Perform rating but cut his 09 EPS estimate to $2.06 from $3.02 due to slow demand in Italy and the US.
– Jeff Osborne of … Read the rest
ReneSola (SOL) Gets $117 Million Loan From China Construction Bank
ReneSola (SOL) announced it’s signed a 5 year loan agreement with China Construction Bank to fund the construction of ReneSola’s polysilicon production facility in Meishan, Sichuan.
“We are pleased to announce that we’ve secured additional financing for our Sichuan polysilicon manufacturing facility,” said Charles Bai, ReneSola’s chief financial officer. “The agreement, combined with previously acquired financing, provides ReneSola with approximately 90% of the capital necessary to fund the project to completion. Our ability to secure … Read the rest