The solar stocks are getting a nice pop today after LDK Solar (LDK) raised both its revenue and shipments outlooks for Q4 and next year. The company says growth is being driven by lower prices, government incentives and renewable energy requirements across the world, particularly in Asia, the US and Europe.
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The company now expects Q4 revenues of $870 – $910 million vs the previous estimate … Read the rest
SunPower (SPWRA) is announcing this morning it’s signed power purchase agreements with Southern California Edison for a total of 711MW of solar power in California. The three contracts include power agreements for plants in Los Banos and Rosamond and would generate enough energy for nearly half a million homes. Sunpower will use its Oasis modular solar block technology to get the plants up quickly and optimize the use of land. The plants are expected to … Read the rest
First Solar (FSLR) has announced it acquired RayTracker which makes solar tracking technology and PV balance-of-systems to improve efficiency by tracking the location of the sun. I assume this technology is similar to the ground mounted tracking technology that Sunpower uses, but would like to hear from the experts in this area! RayTracker’s team will integrate with First Solar along with their customers.
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“We expect … Read the rest
China Sunergy (CSUN) has secured a 7 MW solar module supply contract with CEEG (Nanjing) Solar Energy Research Institute, for the Nanjing South Railway Station solar roof project. It’s the world’s largest stand-alone building integrated photovoltaic (“BIPV”) project for one structure and will be one of the most energy efficient public buildings in China. The company announced a big 120MW Italian solar supply deal just a couple weeks ago.
Daqo New Energy (DQ) will have another good day today. Yesterday, the company was initiated at Buy over at Roth capital with a $15 price target and this morning the company is raising Q4 guidance and announcing expansion plans. They are raising their Q4 shipment guidance from 825 – 850MT to 930 – 950MT and revenue guidance from $65 – $69 million to $75 – $76 million. The company also announced plans to build its … Read the rest
The big 2GW Ordos solar project in China is finally making some progress after quite a few delays. This morning First Solar (FSLR) and China Guangdong Nuclear Solar Energy Development signed a memorandum of understanding (MOU) to collaborate on the development of Phase 1 of the project. Under the agreement, the two companies will work together to develop the initial 30MW demonstration projects, but CGN will be the primary EPC provider while FSLR will provide … Read the rest
Evergreen Solar (ESLR) first indicated back in June that it was pursuing a reverse stock split in hopes of keeping from a delisting by the Nasdaq. After a big surge in October the stock was able to get back above the buck level but has since returned to the abyss. The company remains on life support and while there are some positive developments such as the beginning of their China manufacturing operations, the company has … Read the rest
Zacks Investment Research has JA Solar (JASO) rated as a Strong Buy based on growth and valuation. Combine that with the fact that it has pulled all the way back to its 200 day moving average and it adds up to a very compelling solar play at current levels.
Zacks points out that JASO is now trading with a PEG ratio of just .4 (any number below 1 is very good), a forward PE of … Read the rest
Even as many of the solar industry experts are calling for a difficult year next year, the top solar companies continue to announce expansion plans. Trina Solar (TSL) is another one. The company recently announced that it will invest $800 million over the next three years in the Changzhou Trina PV Park to expand manufacturing and R&D.
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“We are pleased to announce the continuing … Read the rest
Two two green stocks are moving this morning on notable analyst calls.
Goldman Sachs initiated coverage on ReneSola (SOL) with a Buy and $11 price target which is about 30% higher from current levels. The firm likes the solid balance sheet and the valuation after a big correction. I’ve said that SOL and JASO have offered compelling entry points off their 200 day moving averages and still feel that way. Shares of SOL are up … Read the rest