California regulators have given the go-ahead for a deal that will allow P G & E to buy power from the 48 MW solar power project that First Solar and Sempra Energy are building together near Boulder City, Nevada. Now that everything has been approved, construction should start next month and the facility should be completed late next year. It will be an add-on to a 10 MW plant previously built by First Solar and … Read the rest
Category Archives: Solar Energy
LDK Solar (LDK) Faces Cash Crisis, Future In Question
LDK Solar (LDK) needs quite a bit of cash in a hurry to stay alive and the CEO stated in an SEC filing, “If we do not successfully execute our liquidity plan, we face the risk of not being able to continue as a going concern.” The company has sold a $50 – $80 stake in its polysilicon business through convertible preference shares to VMS Investment Group and will raise another $150 million through a … Read the rest
Analysts React To First Solar (FSLR) Guidance: Most Cautious, But Hold Ratings
The StreetInsider.com has a great run down of analyst reactions to First Solar’s (FSLR) guidance last night. The company guided higher and announced significant expansion plans over the next two years. The following is reprinted with permission.
Piper Jaffray: “While strong 2010 top-line guidance and newly announced capacity expansion are positives, a substantially higher mix of lower margin systems business is expected to prevent both margin and EPS expansion in 2010. FSLR remains the … Read the rest
First Solar (FSLR) Guides 2010 Revenues Above Street, Capacity To Expand 50%
After the bell today First Solar (FSLR) issued guidance for next year with revenues expected to come in between $2.7 – $2.9 billion and EPS between $6.05 – $6.85/share. The Street was expecting $2.4 billion in revenues and a $6.55/share EPS, so about in line on the EPS side but more optimistic on the revenue side. The company plans to invest $365 million in two production plants in Malaysia (again, so much for green energy … Read the rest
ReneSola (SOL) Surging 10% PreMarket On Morgan Stanley Upgrade
Shares of ReneSola (SOL) will finally surge above resistance of the 200 day moving average this morning after Morgan Stanley came out and upgraded the stock from Equalweight to Overweight and tripled the price target from $2.30 to $6.60.… Read the rest
LDK Solar (LDK) Gets 20MW Solar Plant Deal With Uni Land Of Italy
LDK Solar (LDK) has landed a 20MW solar plant deal with Uni Land of Italy. LDK will develop the plants in 2010 and 2011 and engineer, procure and construct the plants as well as supply the solar modules. Uni Land will finance the operation. It’s also being announced that Uni Land has purchased a 1MW plant from LDK for $7.3 million.
Said LDK CEO Xiofeng Peng, “We are continually expanding LDK Solar’s presence in the … Read the rest
First Solar (FSLR) Becomes 1st Solar Company To Hit 1GW Production Benchmark In A Year
First Solar just announced that it has become the first solar PV company to increase its production over to 1 GW of PV modules in a single year. That means that this year, First Solar produced and shipped enough solar modules to provide power to 145,000 homes.
In a company press release announcing the achievement, First Solar’s president Bruce Sohn explained why hitting 1 GW production is important:
“This proof that the solar industry can … Read the rest
Piper Jaffray Reiterates Overweight Rating On JA Solar (JASO), Raises PT
Last night JA Solar (JASO) raised guidance and announced a share repurchase program. Piper Jaffray is responding this morning by reiterating their Overweight rating and raising the price target from $6 – $7.
Hat tip to StreetInsider.com for the following analyst comment:
“JASO provided new guidance after the close on December 14 for 4Q09 shipment to be more than 210MW, vs. prior guidance of 170-200MW and our estimate of 185MW, on current customer orders … Read the rest
Yingli Green Energy (YGE) Announces Largest Contract In History – 130MW With IBC Solar
Yingli Green Energy (YGE) has announced the largest contract in its history as it signed a 130MW solar supply deal with IBC Solar of Germany and will ship the modules throughout 2010.
CEO Liansheng Miao commented, “This cooperation with IBC SOLAR, one of the world’s largest suppliers of ready-to-use PV systems and all of the individual components for producing solar electricity, will further enhance our representation in major solar markets worldwide. In addition, this agreement … Read the rest
2010 Alternative Energy Forecast
By Jeff Siegel of GreenChipStocks.com
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In the 1973 movie Papillon (adapted from the 1969 French novel by Henri Charriere), there’s a scene where Papillon is considering jumping off a cliff to escape the island on which he is being imprisoned. His friend Dega says, “It seems so desperate. You think it will work?”
And Papillon replies, “Does it matter?”
Papillon had two options: Stay on the island and … Read the rest