Trina Solar (TSL) is under pressure this morning after announcing last night that it intends to offer 7,900,000 ADS shares for sale with the option for underwriters to purchase an additional 1,185,000 shares. Proceeds will be used to expand manufacturing capacity, R&D and general corporate purposes.
Shares are down about 4% in premarket trading as the stock continues to trade below the 50 day moving average and showing technical deterioration. It looks like it may … Read the rest
STR Holdings (STRI) impressed Wall St after the bell today smashing estimates and guiding higher. The stock is up about 4% in after hours trading after the company reported an EPS of .42/share which is nearly double the analyst estimates. Revenues also came in higher than estimates at $80 million vs the analyst estimate of $69 million. While that’s only a 6% improvement in revenues over the year ago quarter, it’s a huge EPS bump … Read the rest
Akeena Solar just announced that it will begin offering solar installations services for Lowe’s customers. The company will offer these services via 21 Lowe’s stores in California. Akeena’s Andalay AC solar panels are already available in these Lowe’s stores through Lowe’s Energy Centers.
In a press release, Barry Cinnamon , CEO of Akeena Solar,commented on the news:
” Akeena Solar has always focused on making solar power easy — and therefore more accessible for customers. … Read the rest
First Solar just announced that it is now an Associated Partner in the Desertec Industrial Initiative, which aims to demonstrate the potentila of photovoltaic (PV) solar technology to produce power in desert areas by using a combination of PV solar and wind energy to supply a significant percentage of electricity for the Middle East, Northern Africa and Europe by 2050.. First Solar will contribute by providing expertise and preparing the ground for reference projects and … Read the rest
Suntech just announced that its solar panels have been selected to power what will be the biggest solar power plant in Taiwan. The new plant , which will be owned and operated by Taiwan Power Company, will be installed in Young’an,
Kaohsiung, Taiwan. Liao Wen Sing, Vice President of Fortune Electric Co, which is developing the project, says that Suntech panels were selected on the basis of superior performance and reliability.
Suntech will begin delivery … Read the rest
Evergreen Solar just announced that a new 5MW Italian solar plant is online using Evergreen Solar panels, the largest Evergreen installation thus far. The plant uses 24,600 Evergreen Solar ES-A series String Ribbon solar panels to produce sufficient electricity for about 2,400 homes.
In a press release, Scott Gish, Evergreen Solar’s vice president of sales and marketing, commented on the news:
“This is a milestone project for Evergreen Solar as we continue to expand our … Read the rest
According to Street Insider, Piper Jaffray has responded to a negative Barron’s article over the weekend saying that the article is another sign that the negative sentiment on solar stocks has been priced in already and that the sector is poised to rebound with better visibility in the second half of the year. They went on to say that the German feed-in tariff cuts should stimulate growth and reiterated their Overweight ratings on Yingli … Read the rest
In a weekend piece over at Barron’s, Eric Savitz sees a rough road ahead for the solar industry as capacity continues to outpace demand for years to come. He highlights the fact that while demand has picked up ahead of the German solar subsidy cuts in a few months, capacity still outpaces demand and the situation will only worsen as the German subsidy cuts take place, putting some solar laggards out of business.
Its … Read the rest
First Solar (FSLR) has found a buyer for its Cimarron I Solar Project out in Northern Mexico and they didn’t have to look far. It has announced this morning that Southern Company (SO) and Turner Renewable has purchased the 30MW solar plant which is expected to supply power to around 9000 homes beginning sometime this year. Turner Renewable was previously owned by Ted Turner and was purchased by First Solar in late 2007. Southern Company … Read the rest
China Sunergy (CSUN) is once again showing why its a 2nd rate China solar company after reporting its second straight quarterly loss, reported an adjusted loss of .08/share which was inline with analyst estimates. Revenues came in a bit higher than expected at $97.6 million. The revenue growth was there with a 126% surge over the year ago quarter and a 20% sequential improvement, but the company just can’t generate any consistency with its … Read the rest