First Solar, Inc. (FSLR, $136.31, $11,626mln Market Cap, Buy, $173.00 Price Target)
Auriga is out this morning maintaining its Buy rating and upping the price target on First Solar (FSLR) to $173 (27% above current levels). The firm sees significantly less exposure to the Euro next year and higher production levels so is increasing 2011 EPS of $8.64.
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More details of the report..
– sees … Read the rest
Sunpower (SPWRA) has finished construction on a 1MW solar system for the Yolo Country Justice Campus in California. The system will be owned by the Justice Center which financed the project through clean energy subsidized bonds financed by Bank of America as well as a 15 year loan from the Cali Energy Commission. The project is using the Sunpower Tracker system which tracks the sun’s movement for greater efficiency.
Solarfun Power (SOLF) has been awarded two Italian contracts totaling 12MW it was announced this morning. One contract for 6MW of solar modules was signed with GranSolarGhella while the other of the same size was signed with Tozzi Renewable Energy. All modules are expected to be delivered in the second half of this year.
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Dr. Peter Xie, President of Solarfun, commented, “We are pleased to have expanded … Read the rest
Barclays is upgrading two green stocks this morning – both A123 Systems (AONE) and MEMC Electronic Materials (WFR) get upgrades to Overweight from Equal Weight and price targets raised from $12 to $14 and $14 to $16 respectively.
Shares of AONE are trading up about 3% in pre-market trading after successfully clearing important resistance of the 50 day moving average on Friday. Shares of WFR are also trading up about 3% and continue to look … Read the rest
Yingli Green Energy just announced that it will be collaborating with Innovalight, a company that sells highly efficient solar products based on silicon ink. The goal of the collaboration is to help Yingli boost the efficiency of its own solar cells.
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In a press release, Dr. Dengyuan Song, Chief Technology Officer of Yingli Green Energy, commented on the collaboration:
“We are glad to sign this … Read the rest
Canadian Solar just announced that it has opened a new sales office in Italy. The new office, which will be located in Rome, will be overseen by Canadian Solar’s Country Manager for Italy, Marco Pietro.
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In a Pietro explained why the company felt it was important to open the new location:
“Italy is one of the world’s top alternative energy markets, with impressive demand growth and … Read the rest
Gleacher & Co. reiterated its Buy ratings on Sunpower (SPWRA) and MEMC Electronic Materials (WFR) today. Hat tip to Street Insider for the analyst comments. The firm has a price target of $19 on WFR which is about 75% above current levels and a $21 price target on Sunpower (SPWRA) which is about 50% above current levels.
On WFR: “WFR is scheduled to report its 2Q10 results on Thursday, July 29, 2010, after the market … Read the rest
Just a few days ago Solarfun Power (SOLF) announced a credit facility worth RMB 6 billion from the Nanjing branch of the Bank of Shanghai. This morning they announced another big credit facility, this time worth RMB7 billion from Bank of China. It has a term of 10 years with specific draw downs subject to review.
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Gareth Kung, Chief Financial Officer of Solarfun, commented, “Our longstanding … Read the rest
SunPower and Solar Ventures just announced that they have signed a new contract to partner on the design and construction of 3 new solar power plants to be located in Italy’s Piedmont region. The plants will have a combined capacity of 11.1 MW. The project is expected to be finished by the end of the year.
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In a press release, Mario Riello, EMEA Sales Director … Read the rest
DayStar Technologies (DSTI) announced this morning it’s having trouble accessing capital to build and operate a facility in Newark, California so looking to manufacture its thin film CIGS solar modules offshore and have begun discussions with several potential partners. The company is not ruling out an acquisition of Daystar.
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DayStar CEO, Magnus Ryde, commented, “We are encouraged by the high caliber of the potential partners … Read the rest