SunPower just announced that it has signed an agreement to acquire SunRay Renewable Energy from its shareholders. SunRay is a leading European solar power plant developer with a project pipeline of more than 1,200 megawatts (MW) in different stages of development.
In a press release, Howard Wenger, president of SunPower’s utilities and power plants business group, commented on the purchase:
“SunRay has a proven track record of developing bankable solar power plants in a complex … Read the rest
ReneSola (SOL) is announcing a big solar order this morning. Details are limited, but the company has received a 600MW OEM deal to supply solar modules over the next 3 years to a major global solar company. Shipments will be spread evenly at 200MW per year.
CEO Li Xianshou commented: “Our first major solar module OEM contract reflects the exceptional value inherent in our cost-competitive solar wafer and solar module OEM manufacturing platform. Our customers … Read the rest
The China solar stocks could use some good news after being pummeled in the past month and JA Solar (JASO) is providing it with its earnings results this morning. The company recorded record shipments in the quarter, improved margins, beat the Wall St estimates and raised guidance. All in all, a well executed quarter from JASO indicating the company is not only a survivor but a company that could be a leader. They really … Read the rest
JA Solar (JASO) will report ahead of the bell tomorrow morning and Piper Jaffray has a preview (courtesy of Street Insider) of earnings which could provide some insight into how well the other China solar companies will do this quarter.
Jesse Pichel of Piper Jaffray recommends traders own JASO shares ahead of earnings. It’s a little late now! They highlight the positives..
– JA Solar has low Euro exposure compared with its Chinese peers. … Read the rest
Canadian Solar just announced that it has successfully installed the first 250 kW photovoltaic (PV) rooftop system in Ontario. The system consists of 1,326 Canadian solar panels on approximately 74,668 square feet, and was installed on the rooftop of a building owned by Towcon Holdings. Aecon was the installation partner.
In a press release, Dr. Shawn Qu, Chairman and CEO, Canadian Solar Inc.,commented:
“Canadian Solar has been providing solar solutions to customers in over … Read the rest
Square solar cells are all the rage these days. Somebody thought of a brilliant plan .. how about we make our solar cells square for more surface area? Brilliant!!! Solarfun (SOLF) announced their square cells which lead to 5% more efficiency last summer and this morning Trina Solar (TSL) has announced that they too have developed a square monocrystalline cell that achieves up to 18.8% efficiency in a lab setting.
“We are excited to … Read the rest
Suntech Power Holdings just announced that it is trying to triple its US sales this year, from 15 percent of the US market to 20 percent. The company also expects to expand its network of dealers in the US.Although some industry analysts are concerned that subsidy cuts in Germany could cut demand for solar panels, Suntech is optimistic htat lower polysilicon prices and increased demand from the US will balance it out.
In an interview … Read the rest
Energy Conversion Devices (ENER) posted another big loss this morning as the red ink continues to flow. Taking out one time costs for the integration of Solar Integrated Tech, restructuring and inventory write offs, the company still reported a big loss of $25.6 million or a loss of $.56/share which is an increase from last quarter’s loss of .34. Wall St expected a loss of .43/share. On the bright side, the company did show sequential … Read the rest
Evergreen Solar (ESLR) continues to post steep losses and hasn’t come close to a profit in nearly two years now. After the bell today, the company posted nearly $100 million in losses, but more than half of that was related to a big write off related to the investment in Sovello. Still, it equates to a .20/share loss after the write down is taken out.
Adding insult to injury, the company ended the four quarter … Read the rest
According to the Boston Business Journal, Evergreen Solar just announced that its German joint venture with Q Cell, Sovello, may be forced to declare insolvency after a European commission’s decision to revoke a $16.2 million grant the company was given in 2008. The grant was given to Sovello as a “small and medium enterprise,” and the commission found that Sovello concealed the true extent of its relationship with Q Cell to qualify.
Sovello is … Read the rest