EMCORE Corporation announced that it has set up the first EMCORE concentrator photovoltaic system (CPV). The CPV system was set up in China with the help of XinAo Group. It is already installed and operational. Here is a little bit more information about the system, as well as future system installations in the Chinese market:
The deployed 50 kilowatt (kW) CPV system is power-driven by state-of-the-art, high-efficiency compound semiconductor-based multi-junction solar cells, operating with 500x
China Sunergy reported its 3rd quarter results today. Compared to the third quarter of last year, the company has grown significantly. This year, revenues for the 3rd quarter are up 142.9% compared to the third quarter of last year, increasing to $119 million. This was also a 6.6% increase compared to the 2nd quarter of 2008.
Non-GAAP net income also increased compared to the 3rd quarter of last year, rising from a loss of … Read the rest
Altair Nanotechnologies announced on Friday that its new grid-scale battery storage system has been accepted for participation in the PJM Regional Transmission Organization control area, which serves approximately 51 million people. The 1 megawatt, 250 kilowatt-hour storage system was developed under a joint agreement with AES Energy Storage LLC. This marks the first time ever that a Lithium-Titanate battery has achieved commercial acceptance to "to provide grid regulation services in one of the largest … Read the rest
Canadian Solar, Inc reported its 3rd quarter results today. The company has grown quite a bit since the third quarter of last year. Last year, the company reported net revenues of $97.4 million in the third quarter. Th9is year, that figure has jumped to $252 million. GAAP net income in the third quarter of last year was $.5 million, or .02/diluted share. This year, it’s $10.5 million or $.36 per diluted share. Non-GAAP earnings … Read the rest
Suntech Power reported its 3rd quarter results this morning. Although the company’s results do show continued growth, they were well below what analysts had expected to see. For example, Suntech reported revenues of $594.4 million. Although this was an increase of 53.7% from last year, it was still below analysts predictions of $571.7 million. Earnings came in at .35/share, excluding one-time items. Analysts had expected to see earnings of $.42/share.
Hoku Scientific (HOKU) has announced this evening that they have secured a supply deal with BHS Acquisitions, a leading chemical supplier for supplies needed to produce solar grade polysilicon. BHS will supply Hoku with guaranteed amounts of HCI for eight years beginning in 2009 and is expected to be enough to support the continued operation of Hoku’s trichlorosilane plant, enabling the production of 4000 metric tons of polysilicon per year. … Read the rest
Trina Solar (TSL) is down nearly 10% in premarket trading after beating estimates for both EPS and revenues for the quarter but guiding below for Q4 and full year 08. The company reported an EPS of 1.17, good for a 318% increase over the year ago quarter and topping estimates by .07 on revenues of 290.7 million (beating estimates by about a million).
However, it’s always about guidance and it wasn’t good. The company cut … Read the rest
In some good news, LDK Solar reported its 3rd quarter results today. The company’s third quarter earnings jumped due to higher demand and increased sales. For example, revenue jumped a whopping 241% to $541.8 million, beating the company’s own predictions. Net income increased from $41.6 million, or 37 cents per American Depositary share, one year ago to $88.4 million or 77 cents per ADS, beating Wall Street analysts’ expectations of 71 cents per share. … Read the rest
It’s getting late but wanted to run down the upgrades/downgrades of today as well as a few notes..
Lazard Capital Markets analyst Sanjay Shrestha said this week that although macroeconomic factors continue to depress alternative energy stocks, the future looks bright. “We believe Barack Obama’s election is a long-term positive for the alternative energy group,” Shrestha said. “Until the financial markets show signs of stability, the economy will likely continue to overshadow other policy agenda … Read the rest
Shares of ReneSola (SOL) are off nearly 15% in premarket trading after the company reported an EPS for the 3rd quarter of .46/share, which topped estimates of .36/share but the company sees FY08 revs of $640 to 670 vs estimates of $698. In addition, the COO resigned effective Nov 1 to pursue other interests.
“Looking ahead, we are confident the current challenges in the industry are temporary and that the mid- to long-term prospects remain … Read the rest
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