SunPower announced that it has been chosen by Dow Jones & Company to install a new high-efficiency, 4.1 megawatt solar power system at the Dow Jones’ New Jersey headquarters.
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SunPower will use its SunPower T5 Solar Roof Tile to create a 3.6 installation above the parking lot and a 522-kilowatt rooftop installation.
In a press release, Tom Leyden, managing director at SunPower, commented on the … Read the rest
ArcLight Capital Partners, LLC just announced that it has sold 450 MW worth of solar development projects to NRG Energy via its portfolio company , US Solar Ventures Holdings, LLC.
In a press release, Bob Mooney and Bob Looper, 2 principals at US Solar, commented on the sale:
“The sale to NRG, an established leader in the independent power sector, will facilitate the commercial advancement of these projects,” according to Bob Mooney, principal at US … Read the rest
Citi is out this morning maintaining its Hold rating on First Solar (FSLR) and raised the price target from $125 to $140.
“FSLR remains mired in a multi-year flattening of EPS from 2009-2011 with significant growth not likely until 2012. On the downside, if $6 is worst-case, this supports our view that stock price of $100 or slightly lower is where we’d expect to get more bullish. On the upside, if Street starts to look … Read the rest
Needham & Company has initiated coverage on Comverge (COMV) with a Buy rating and $14 price target. Shares of COMV could use a boost. They remain in a down trend and there is resistance all the way up to the 11.15 level of the 200 day moving average. Hat tip to Street Insider for the following analyst comment:
“Overall, we view Comverge’s strong presence in US residential demand response (along with its building presence in … Read the rest
Ah, here we go again with more subsidy cut rumors. This time it’s Spain. While rumors have been swirling for months that Spain would cut subsidies, Bloomberg reported today that an industry lobbyist believes that Spain will make substantial solar subsidy cuts to both existing solar installations and new installations following a meeting Spain’s Deputy Industry Minister Pedro Marin. I agree that cutting subsidies on future solar installations is healthy and an important part of … Read the rest
Fly On The Wall reported this morning that the German government will meet today in an attempt to agree on a unified plan for the reduction of the German FIT according to Collins Stewart. The lower house passed legislation in May calling for a 16% reduction to the roof-top FIT and a 15% cut to the FIT for ground based systems. Collins Stewart doesn’t expect any changes to come out of today’s meeting.… Read the rest
SunEdison, a subsidiary of MEMC Electronic Materials, just announced that it has purchased 2 solar PV projects from TransAlta. The projects are located in Ontario, and SunEdison will finance, build, own, operate, monitor and maintain them once they are completed.
The first site will be a 10-MW project under the Renewable Energy Standard Offer Program. The second will be part of Ontario’s Feed-in-Tariff (FIT) program. The Ontario Power Authority will purchase power from both projects.… Read the rest
Several analyst rating notes to make you aware of today. Hat tip to Street Insider for the analyst notes.
Needham & Company has initiated coverage on AONE, HEV and VLNC.
Initiated coverage on A123 Systems (AONE) with a Hold rating and $10 price target. “Although we believe that A123 Systems has the potential to be a successful company in the long term, there are several near-term risks that could negatively affect AONE shares. The intellectual … Read the rest
Auriga is out this morning with some notes on the solar industry after attending Intersolar in Munich, Germany. The firm believes industry fundamentals remain strong with robust European demand being driven by attractive rates of return on solar projects. They believe that as long as project returns are attractive, and both debt and equity financing remains available, demand for PV projects will continue to surprise versus the bearish outlook.
Here are more notes from the … Read the rest
Goldman Sachs slashed its price target on A123 Systems (AONE) this morning from $15 to $9, but kept the Neutral rating following a meeting with management. The firm raised 2010-2012 revenue estimates, but forecasts larger EBITA losses. The firm raised 2010 revenue estimates form $139M to $141M, 2011 from $262M to $276M and 201 from $416M to $431M. EBITA loss estimates rise from ($76M) to ($98M) for 2010, ($44M) to ($67M) for 2011 and $13M … Read the rest