MEMC Electronic Materials just announced that its division SunEdison has been selected to build a 72 MW solar power plant in Rovigo, Italy. The project is expected to be the largest European solar power plant. It is expected to begin producing power in the second half of this year, and to be completely finished by the end of 2010. SunEdison is partnering with Banco Santander for financing and expects to line up other financial partners … Read the rest
Category Archives: Solar Energy
Brigantine Advisors Initiates Coverage Of Suntech Power (STP) With Hold: "Fairly Valued"
Brigantine Advisors has initiated coverage on Suntech Power (STP) with a Hold rating. Hat tip to Street Insider for the following analyst comment:
“Suntech is the world’s second largest manufacturer of solar modules, with shipments rising 42% Y/Y in 2009 on a Megawatt basis. Solar module pricing fell sharply in 2009, down nearly 40% Y/Y, and we expect will fall about 30% Y/Y in 2010. The company relies on Germany for about 40% of its … Read the rest
Renesola (SOL) Beats, Guides Higher But Still In The Red
ReneSola (SOL) has reported earnings results this morning ahead of analyst estimates but the red ink continues to flow despite the best quarterly revenue number in over a year. They posted an adjusted loss of .03/share (estimates called for loss of .08/share) on revenues of $180 million (beating estimates of $169 million).
SOL CFO Charles Bai commented on the quarter: “During the fourth quarter of 2009, we continued to improve our manufacturing efficiency while expanding … Read the rest
SunPower (SPWRA) Gets 200MW Order From Southern California Edison
SunPower just announced that it has been awarded a contract to provide SunPower T5 Solar Roof Tiles to generate up to 200 megawatts of solar energy. With this contract, SunPower will provide 80 percent of the energy needed for Southern California Edison’s solar PV installation program, in which the company plans to install, own and operate 250 megawatts of solar generating capacity over the next 5 years.
In a press release, Howard Wenger, president of … Read the rest
Trina Solar (TSL) Adds To US Revenue In Sales Agreement With Essco
Trina Solar (TSL) has announced that its subsidiary, Changzhou Trina Solar, has added another US order. They signed a sales agreement with Essco Wholesale Electric, a Sonepar USA company which continues to push into the solar market. Trina will supply Essco with 25MW of solar PV modules this year with the option for 4MW more. That makes sales of 40MW this year in the US as they continue to push into the US market. … Read the rest
Ardour Capital Upgrades Yingli (YGE) & Comverge (COMV)
Ardour Capital is out this morning upgrading both Yingli Green Energy (YGE) and Comverge (COMV) following recent earnings reports. They upgraded Yingli (YGE) from Reduce to Buy. Hat tip to Street Insider for the analyst comments:
“We are increasing our 2010 estimates to reflect demand-driven capacity expansion and solid gross margin outlook. The Company announced a 300MW capacity expansion to address continuing order demand from channel partners. Accordingly, YGE expects to ship 950-1,000MW in … Read the rest
SunPower (SPWRA) Working With K6 S.a.S To Build 2 Italian Solar Plants
SunPower just announced that it will work in partnership with K6 S.a.S to build 2 1-megawatt PV solar plants in Puglia, Italy. The solar plants are expected to be up and running by August 2010. Sunpower will install its solar panels as well as its SunPower® T20 Tracker, which follows the sun to increase energy production by 30% energy.
In a press release, Luca Bandini, general manager of SunPower Italia, commented on the agreement:… Read the rest
First Solar (FSLR) Sells Rest Of Desert Sunlight Solar Energy To PGE
Helping to ease the sting of a JP Morgan (JPM) downgrade, First Solar (FSLR) has found a buyer for 300MW of solar energy that will be produced from a plant its manufacturing in SoCo. Pacific Gas & Electric will purchase 300MW of the 550MW expected output of the Desert Sunlight project with Southern California Edison purchasing the rest. Both power purchase agreements are still subject to approval by the California Public Utilities Commission, but … Read the rest
A-Power (APWR) Subsidiary Awarded $1.7 Million Solar Contract
According to this press release, A-Power just announced that its wholly-owned subsidiary, EVATECH, has been awarded a $1.7 million contract by an unnamed a Chinese leading renewable energy company. Under the terms of the agreement, EVATECH will design, build and install one set of photovoltaic solar machines, which it is expected to ship on May 31, 2010. The Chinese company has already made a downpayment.
:::: >>> Click Here For Your FREE A-Power … Read the rest
JP Morgan Downgrades Solar Names (FSLR, ESLR, ENER), Sees Better Opportunity In LED, Wind Energy
JP Morgan is out with a bearish call on solars this morning downgrading First Solar (FSLR) and Energy Conversion Devices (ENER) to Underweight and initiating coverage on Evergreen Solar (ESLR) with a Neutral.
Notable calls has all the details on the call, but here are some highlights:
– JP Morgan reiterates the same old concerns of supply and margin headwinds
– they like LED and wind energy better right now
– German tariff reset will … Read the rest