Shares of Suntech (STP) are continuing to build on last week’s strength after the company increased guidance for this year and next. They now expect 2010 revenue of $2.78 – $2.83 billion which is ahead of the Street estimate of $2.7 billion. For 2011, Suntech expects to ship at least 2.2GW of solar products and generate revenues of $3.4 billion to $3.6 billion. The Street was estimating $3 billion. EPS is estimated to be $1.40 … Read the rest
Category Archives: Solar Energy
MEMC Electronics (WFR) Partnering With Flextronics (FLEX) On Solar Panel Production In Ontario
MEMC Electronic Materials (WFR) announced it will partner with Flextronics (FLEX) to produce solar panels at a Flextronics facility in Ontario beginning in a few months. The panels will be used my MEMC subsidiary SunEdison for projects in Ontario and the arrangement allows the company to capitalize on Ontario’s feed in tariff program which requires 60% of the materials to be produced locally. The production is expected to create around 100 jobs.
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Yingli Green Energy (YGE) Is Major Beneficiary Of Golden Sun Program
Yingli Green Energy (YGE) got a lift this morning on positive comments out of Wells Fargo and is also helped by news that it has been selected as a major solar module supplier for the Golden Sun Program which is the China governments plan to accelerate the use of solar energy in the country. They recently announced a plan to expand the Golden Sun portfolio to 1GW within two years. Last month 272MW in solar … Read the rest
Jefferies Says American Superconductor (AMSC) Best China Wind Play, Wells Fargo On Solar Stocks
Jefferies has a Buy rating and a $41 price target on American Superconductor (AMSC) and believes it’s the best wind play in China since its largest customer is Sinovel which is the #1 wind energy company in China.
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Wells Fargo is out this morning with several solar calls and is mostly bearish. They upgraded Yingli Green Energy (YGE) from Market Perform to Outperform citing low production … Read the rest
JA Solar (JASO) Secures 10GW Supply Of Polysilicon Wafers From GCL-Poly
JA Solar (JASO) won’t have a problem finding materials for solar panel production over the next five years. The company just signed a big 10GW supply deal with GCL-Poly for a five year period.
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“We are very pleased to strengthen our long-term strategic partnership with GCL-Poly, China’s largest polysilicon manufacturer and a global leader in solar wafer manufacturing,” said Mr. Jian Xie, Chief Operating Officer … Read the rest
Sunpower (SPWRA) To Build 3.4MW Solar Plant In Italy
SunPower (SPWRA) signed a contract to work with E.ON Climate and Renewables Italia Solar to design and build a 3.4MW solar power plant in Italy’s Lazio region using ground mounted systems with tracking technology. Construction on the plant will start this year and is expected to be completed in April 2011.
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“E.ON, a recognized global leader in the development of renewable energy, understands that SunPower technology … Read the rest
Sunpower (SPWRA) Building Solar Power Systems At Two Water Plants In San Diego
SunPower (SPWRA) announced yesterday that it’s building solar power systems at two California water plants in San Diego – the Fallbrook Public Utilities District and the San Juan Water District. The ground mounted solar systems using tracking technology are expected to be fully operational within a few months.
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“SunPower is very experienced in working with water agencies, and assisted us with obtaining the QECBs and making … Read the rest
Auriga Initiates ReneSola (SOL) With Buy, $20 Price Target; Reiterates Buy On Trina Solar (TSL)
Auriga posted a few more solar calls recently. This morning they initiated coverage of ReneSola (SOL) with a Buy rating and a $20 price target which is more than double the current level ($8.40). The believe sentiment is overly negative on this China solar leader. The firm notes that SOL benefits whether poly prices stay high (by focusing on wafering operations) or if module prices move lower (by sourcing more modules with its low cost … Read the rest
Auriga Reiterates Buy, $20 PT On Daqo New Energy (DQ): "Shares Unjustly Punished"
Auriga is out today reiterating the Buy rating and $20 price target on Daqo New Energy (DQ). The firm believes the company is on schedule to produce 850MT of polysilicon in Q4 which is the top end of guidance and sees poly prices holding firm at $75/kg. They see little downside risk to the shares at the this level and believes the stock has been unjustly punished since reporting earnings. After a slow start today, … Read the rest
China Sunergy (CSUN) & Pythagoras Solar Partner For Advancement Of Solar Windows
China Sunergy (CSUN) and Pythagoras Solar, an Israeli provider of building integrated photovoltaic (BIPV) products, announced the signing of an agreement to co-market and advance the development and scale manufacturing of BIPV products from 2010-2015 in China. Research firm NanoMarkets estimates that the BIPV market could increase more than 10-fold to $8 billion by 2015. Pythagoras is an interesting company which is leading the way in creating solar energy producing windows and this partnership hopes … Read the rest