Satcon Technology (SATC) is on a roll. A few weeks ago the company announced its largest order to date to a European company and today it’s topping that with a 38MW order for its solar PV inverters from one of China’s largest utility solar plant developers, GCL Solar. This is a follow on order following a previously announced 23MW order from GCL. The PowerGate Plus 500kW inverters will be installed at three solar plants
Satcon … Read the rest
Hoku Solar just announced that it has been selected by Diagnostic Laboratory Services to design, engineer and install a PV solar system. The 339-kilowatt, turnkey PV system will be installed in Diagnostic Laboratory Services’ new headquaters in the old Panasonic warehouse in Oahu, Hawaii. Hoku Solar will work on the project with Allied Builders System.
In a press release, Dustin Shindo, chairman and chief executive officer of Hoku Scientific, commented on the news:
“Hoku is … Read the rest
While Canadian Solar (CSIQ) posted record revenues this morning and excluding one time forex losses beat analyst estimates on the EPS side by a penny. Shares are up about 3% in premarket trading.
The company posted an EPS of .47/share on surging revenues of $287 million which is a record for the company and ahead of the estimate of $267 million. Sequentially, it’s the 3rd straight improvement for CSIQ and a huge improvement over the … Read the rest
A few analyst notes to pass along today courtesy of Street Insider. FBR Research maintains its underperform rating on Trina Solar (TSL) and Canaccord Adams maintains its Buy rating on Fuel Systems Solutions (FSYS).
Analyst comment on Trina:
“We are updating our estimates following TSL’s earnings report from late last week. Our quarterly estimates have changed to account for the demand full-in in Germany as well as the company’s guidance and commentary, although our … Read the rest
Yingli Green Energy (YGE) has signed a 10MW sales agreement with New Jersey based SunDurance to supply them with PV modules through the 3rd quarter of this year. The company’s have worked together before but this is the largest deal between the two as Yingli works to expand their business in the US.
Managing Director of Yingli Americas Robert Petrina commented: “Our growth strategy in the U.S. is focused heavily on the commercial and utility-scale … Read the rest
LDK Solar (LDK) just announced that it is acquiring Best Solar Co’s crystalline module manufacturing plant. Under the terms of the agreement, LDK will pay Best Solar $21.5 million for the plant. In a press release, Jack Lai, Executive Vice President, Chief Financial Officer, and Secretary of LDK commented on the acquisition:
This acquisition will significantly enhance LDK Solar’s position in the downstream PV market. LDK Solar has been fulfilling the majority of its solar … Read the rest
SunPower just announced that it has signed a supply agreement with Toshiba Corporation for 32 MW wort of high-efficiency solar panels. Under the agreement, SunPower will supply the solar panels to Toshiba this year, and Toshiba will use them to offer residential solar power in Japan.
In a press release, SunPower CEO Tom Werner commented on the agreement:
“We welcome the opportunity to partner with Toshiba, a preeminent business leader in Japan and throughout … Read the rest
First Solar (FSLR) and Cree Inc (CREE) are two stocks moving in opposite directions, but they have one thing in common – the Chairman of both companies, Michael Ahearn at FSLR and Chuck Swoboda at CREEl, have been dumping stock. According to Street Insider, Ahearn has sold off 43% of his holdings or nearly $150 million just days after the company reported earnings. A move like that doesn’t exactly exude confidence and the stock … Read the rest
China solar stocks have been crushed over the past month, but today are green on a day when the market is down significantly. This is the kind of relative strength that indicates that perhaps they have reached a turning point. I think it’s too soon to call a bottom in the China solar stocks, but this is a good start. The relative strength certainly isn’t without a catalyst .. Deutsche came out with a bullish … Read the rest
GT Solar International (SOLR) announced a $20 million order for its DSS450 solar ingot furnace about a week ago and the CEO commented then that the company was seeing a pickup in demand as China solar manufacturers look to increase capacity.. he wasn’t kidding! This morning the company has announced $200 million in new orders for its industry leading furnace, ancillary equipment and services. The new orders include a $137 million follow on order (which … Read the rest