SunEdison, a subsidiary of MEMC Electronic Materials, just announced a new agreement with Weingarten Realty Investors to lease space on their unused rooftops for up to 10 MW worth of PV solar installations. Weingarten Realty will then purchase the energy produced by the systems at below-retail rates, or will allow their tenants to do so.
In a press release, Bill Goeke, Senior Vice President, Property Management of Weingarten Realty Investors, commented on the news:… Read the rest
MEMC Electronic Materials just announced that it will be acquiring Solaicx, a company that has developed a patented continuous crystal growth manufacturing technology. This technology enables solar companies to produce more efficient monocrystalline silicon wafers at a low cost.
Solaicx is privately held; MEMC Electronic Materials will pay its securityholders $66 million in cash plus additional cash to cover their costs for recent investments made prior to closing, which is expected to be about $10 … Read the rest
Credit Suisse demonstrates once again why analyst estimates and ratings are for the most part worthless. Rarely are analysts ahead of the curve and Credit Suisse is no exception. They are out this morning maintaining their Neutral and Outperform ratings, but cutting price targets well after these stocks have plummeted to new lows. I believe solar stocks are close to bottoming out, based on some minor capitulation moves seen yesterday. Many are ripping higher again … Read the rest
No doubt today’s action was ugly if you were on the long side of the trade and taking a look at the Up & Down Movers at the left tells the story. That’s a might lengthy list of green stocks down with heavy volume today, but there were bright spots provided in some solar stocks.
Despite a day when the overall market was down 4% with heavy volume, eight solar stocks finished in the green … Read the rest
Street Insider was out with a research note from iSuppli today forecasting big growth in solar leader Germany ahead of the feed-in-tariff reduction in July which will have companies scrambling to complete installations. That’s not too much of a surprise, but the firm also sees significant growth after the tariff reduction, particularly in rooftop solar systems.
They are forecasting 6.6GW of solar installations for 2010 in Germany which is a 70% increase over last year, … Read the rest
A couple analyst ratings notes in the solar space this morning.
Needham reiterated its Buy rating on Applied Materials (AMAT) and price target of $18 following its earnings report last night. “AMAT F2Q10 (Apr) results beat expectation and guidance was above consensus. We believe the report was largely inline with buy-side expectations. We are encouraged by the company’s decision to take further steps to scale back SunFab, but we are a bit disappointed by the … Read the rest
GT Solar (SOLR) returned to quarter over quarter growth after two sub par quarters in the last half of last year. The company posted strong results and beat Wall St estimates after the bell yesterday.
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The company reported an EPS of .23 vs the Wall St estimate of .19 on revenues of $194.7 million vs the Wall St estimate of $183 million. That’s quarter over quarter … Read the rest
Trina Solar (TSL) announced today that it is partnering with TUV Rheinland Group, Underwriters Laboratories and China General Certification to “ensure world class” quality standards. Rheinland and UL will perform tests within the company’s PV testing center in accordance with IEC 17025 while CGC will provide in house testing and certification for end users in China and abroad.
===> Click Here For Your FREE Trina Solar Analysis
“We are proud to announce that Trina … Read the rest
Deutsche Bank has met with Sunpower (SPWRA) management and according to Street Insider, is still comfortable with its Buy rating as the stock continues to slide to new all time lows. The firm maintains the $25 price target as well.
===> Click Here For Your FREE Sunpower Analysis
“We believe there is great (and unrealized) value in the company’s downstream business. We believe that companies with these business models are far better positioned; there … Read the rest
Evergreen Solar just announced that its ES-A series String Ribbon solar panels have been certified for coastal installations. To receive certification, the panels passed IEC 61701 salt mist corrosion testing for PV panels, meaning that they were exposed to a super-strong salt solution for 4 days without exhibiting signs of damage or corrosion. Evergreen will feature the products at the Genera Solar Show in Madrid, Spain from May 19th to the 21st.
====> Click Here … Read the rest