LDK Solar (LDK) just got a 10 year contract with Photovoltech to supply multicrystalline solar wafers to Belgium based Photovoltech. LDK will begin supplying the wafers in 2009 with a total of 400MW over the 10 years
“We are very pleased to enter into this long-term agreement with Photovoltech,” stated Xiaofeng Peng, Chairman and CEO. “This most recent supply contract further displays the strong demand for our wafers and also enables us to continue expanding … Read the rest
FPL just received approval from the Florida Public Service Commission to begin construction on 3 solar energy centers that will put Florida on the map as the largest supplier of utility generated solar power in the nation.
"Today’s decision by the PSC represents a major step forward in making Florida a leader in solar power generation. At a time of record-setting fossil fuel prices and concern over global climate change, solar power helps to meet … Read the rest
Solarfun (SOLF), the Chinese manufacturer of PV cells, has just announced the passing of its COO Hanfei Wang, who played a key role in the company’s growth strategy. Chairman Yonghua Lu, stated, "We are deeply saddened by Hanfei’s sudden and unexpected death. He was a leader in every respect – professional, passionate and driven to achieve excellence for Solarfun and his colleagues."… Read the rest
Evergreen Solar (ESLR) announced the largest contract in it’s history an hour ago. It’s a long term contract of $1.2B with German based IBC Solar and extends through 2013 which brings the total contractual backlog to $3 billion with 5 different customers.
“We are very pleased to begin this significant long term relationship with IBC SOLAR, the largest PV distributor in the world”, said Richard M. Feldt, Evergreen Solar’s chairman, president and chief executive officer. … Read the rest
Trina Solar (TSL) & Enerpoint have agreed to add a new sales agreement which has TSL supplying Enerpoint with 5MW of photovolatic solar modules in 08 and another 22MW in 09.
Arturo Herrero, vice president of sales and marketing at Trina Solar, said: "Trina Solar is pleased to have entered into this renewed sales agreement with Enerpoint to reinforce this important partnership in Italy. Enerpoint’s wide distribution network, together with Trina Solar’s high quality modules … Read the rest
According to StreetInsider.com, Canadian Solar (CSIQ) are upping their revenue estimates for the 2nd quarter with an expected range of 210 -214 million, up from the previous forecasted range of 185 – 190. The company also reiterated its full year 2009 forecast and expects to deliver 500-550MW of solar modules.… Read the rest
Zacks analyst Jon Kolb discussed a few solar names in an interview released this morning.
On ReneSola (SOL):
"Through its short history, ReneSola regularly adapted to changing market dynamics. The company is aggressively ramping up its polysilicon and solar wafer production capacities.
Going forward, increased captive generation of polysilicon will improve its cost structure and enable wafer capacity expansions. Globally, rising solar wafer sales, along with escalating crude and long-term supply agreements, should collectively generate … Read the rest
According to StreetInsider.com, Caris & Co have initiated coverage of a few solar names:
* Initiated coverage of First Solar (FSLR) with a buy and $350 price target
* Initiated coverage of MEMC Electronic (WFR) with Above Avg and $100 target
* Initiated coverage of SunPower (SPWR) with an Above Average and price target of $80
* Initiated coverage of Evergreen Solar (ESLR) with Above Average and price target of $11… Read the rest
MEMC Electronic (WFR) announced a $3 billion supply deal with Tawain’s Tainergy Tech over a 10 year period and has the right to buy 10% of Tainergy. Tempering the good news a bit was the reduction of a deal with Conergy which has been cut from a 10 year $7-8 billion deal to about $4 billion. All in all, a wash today for MEMC Electronic… Read the rest
Sunpower (SPWR) has announced a major deal to build out the largest photovoltaic power plant in the US (25MW) with FPL and will build a second plant at the Kennedy Space Center as well. These are scheduled for completion around 2009/2010.… Read the rest