Jesse Pichel, who was formerly at Piper Jaffray, is now at Jefferies and initiating coverage on many green stocks. Hat tip to Street Insider for the ratings.
Buy Rating:
JA Solar (JASO) – $8 price target
Yingli Green Energy (YGE) – $15 price target
Trina Solar (TSL) – $35 price target
Itron (ITRI) – $74 price target
EnerSys (ENS) – $28 price target
American Superconductor (AMSC) – $35 price target
EnerNOC (ENOC) – $38 price … Read the rest
General Electric (GE) along with some leading venture capital partners such as Kleiner Perkins, announced today a $200 million contest which seeks to accelerate the advancement of the smart grid and other green energy solutions. The “GE Ecomagination Challenge: Powering the Grid”, invites technologists, entrepreneurs and start ups to share their best ideas.
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Said GE CEO Jeff Immelt, "At GE we have invested broadly … Read the rest
MEMC Electronic Materials (WFR) SunEdison division announced its plans to produce racking equipment for its Canadian solar projects with Samco Solar, a division of Samco Machinery. The partnership will be a big benefit to Samco Machinery which has been hit hard in a tough economy. It will produce 15 – 18 permanent jobs for the company and many more temporary positions. The retooling of the Samco plant has begun and they are expected to begin … Read the rest
STR Holdings (STRI) is up and running at its newly expanded Malaysia plant to meet the growing demand for its solar encapsulant materials. The plant capacity was doubled from 1GW to 2GW and the company has announced they will add another 1GW of capacity next year which would bring the total global capacity to 7.35GW.
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“Increasing the production capacity at our Malaysia facility is an important … Read the rest
LDK Solar (LDK) is announcing some solar supply deals of its own this morning. The company will supply 50MW of solar modules to Spain’s Enel with 30MW deliverable this quarter and an option for an additional 20MW next quarter.
“We are very pleased to enter this sales agreement with Enel, a globally recognized power provider and dedicated leader in the production of PV systems,” stated Xiaofeng Peng, Chairman and CEO of LDK Solar. “As demonstrated … Read the rest
Yingli Green Energy (YGE) announced at the North American Intersolar conference today that it will provide 15MW of solar modules to Kaiser Permanente hospitals and office facilities across California. They will deliver around 65K modules over the next year to Swinerton Renewable Energy which is the designer and installer of the solar power systems. Recurrent Energy will own and operate the 16 power systems. No word on the financials of the deal.
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First Solar (FSLR) announced after the bell that it has completed the acquisition of NextLight Renewable Power providing First Solar with utility scale solar operations of 2.2GW under power purchase agreements. The company began moving into the utility scale business in 2007 with the acquisition of Turner Renewable Energy and later with the purchase of OptiSolar and Edison Mission Group.
The first project for NextLight as a First Solar company is the 290MW Caliente … Read the rest
JA Solar (JASO) cemented its partnership with Innovalight of California today, signing a 3 year supply agreement for silicon nanoparticle ink which is a key component in JA Solar’s new SECIUM high efficiency solar cells which are expected to move into volume production very soon. JASO has been able to achieve efficiency rates of 18.9% and the two companies are working together to push that to over 20%.
Citi has initiated coverage on a few more solar names, adding Trina Solar (TSL), Yingli Green Energy (YGE) and Suntech Power to its coverage. Hat tip to Street Insider for the analyst commentary.
TSL gets initiated with a Buy rating and price target of $30 which is about 50% higher from current levels. It’s down about 2% today and will face some resistance at the 200 day moving average. “We see solid execution, no need … Read the rest
The Nasdaq has sent Evergreen Solar (ESLR) a deficiency letter due to the stock trading under a buck for several weeks. The company has until the end of the year to get its stock price above $1 and then it must trade there for 10 business days. If that doesn’t happen it could get a final removal notice and be delisted by the Nasdaq, but the company can appeal. As I mentioned a few days … Read the rest