Emcore just announced that they have a contract with Dutch Space to supply solar panels to power the Cygnus spacecraft. The spacecraft, which is being developed for NASA’s Commercial Resupply Service (CRS) project by Orbital Sciences Corp, should launch in 2011 and will be used to deliver cargo to the International Space Station.
The total value of Emcore’s contract with Dutch Space is over $15 million once all options are exercised. Emcore’s ZTJ solar cells … Read the rest
Suntech just announced that they will be building a PV module manufacturing plant in the vicinity of Phoenix, Arizona. Once complete, the plant will have a 30 MW capacity. The plant should start production in late 2010, and will help Suntech provide better service to its US customers. It will also make Suntech’s production process more environmentally friendly, as it will reduce the carbon dioxide emitted from shipping product overseas to the US.
In a … Read the rest
ReneSola (SOL) reported mixed Q3 results this morning posting a loss of $0.07 which was inline with analyst estimates on revenues of $140.9 million which was a bit better than Wall St estimates of $136.8 million.
The company says it’s seeing a strong rebound in demand and expects to work through its high priced inventory early next year which will get the company back in the black. CEO Xianshou Li also commented on recent acquisitions:… Read the rest
We have conflicting views on Yingli Green Energy (YGE) out of Janney Montgomery and HSBC. Janney is upgrading it from Neutral to Buy with and has a price target of $20.
Hat tip to StreetInsider.com for the following analyst comment:
“We are upgrade Yingli Green Energy to BUY, as the outlook for pricing and thus margins have improved. Yingli is a major price setter, and they are guiding to a more benign pricing environment in … Read the rest
Back in March, China’s Ministry of Finance launched a Solar Rooftop Program to increase energy efficiency and decrease cost. Soon thereafter, more than 100 applications were submitted and so far 91MW of solar projects have been approved to move forward. Suntech Power (STP) says it expects to develop about 20% of these projects. They have already developed 4MW and expects to develop the rest by the middle of next year
“Solar is an ideal … Read the rest
Yingli Green Energy (YGE) posted a mostly strong earnings report this morning, beating on the EPS side and posting record revenues, but missing Wall ST revenue estimates just a bit. Like most solar companies this quarter, the company posted results much better sequentially but flat compared to the year ago quarter. Granted, the year ago quarter was typically the best quarter for most solar companies, so starting next quarter the quarter over quarter growth should … Read the rest
Suntech just announced that it has begun construction on its 50 MW solar plant in Jiangsu, China. Suntech is working with Huadian New Energy Development Company to build the plant. The company will design the plant and install 37,000 of its own PV solar panels. Suntech will also own a minority stake in the plant once it is built.
The first, 10MW phase of the plant could be in operation later this year. … Read the rest
Piper Jaffray is downgrading GT Solar (SOLR) to Underweight and slashing the price target to $3 following the earnings report.
Hat tip to StreetInsider.com for the following comment:
“While we believe SOLR’s DSS furnace business is well positioned for a coming expansion cycle and possibly a replacement cycle as the company launches its 600KG furnace next year, we have major concerns on SOLR’s polysilicon equipment (CVD) backlog that bring us to downgrade the stock…We … Read the rest
JA Solar (JASO) smashed analyst estimates this morning and has posted the first quarterly profit in a year. The company reported an EPS of .10/share, .07/share better than Wall St estimates. Revenues also smashed estimates coming in at $193 million vs the Wall St estimate of $136 million. This is a big upside surprise out of JASO, but let’s put it in perspective a bit. The EPS number is still a 78% plunge from the … Read the rest
GT Solar (SOLR) reported mixed earnings results after the bell today with a miss on the EPS side (reporting .06/share vs estimates of .07/share) and a beat on the revenue side (reporting $104 million vs estimates of $101.8). EPS was off 68% from the year ago period, so certainly another solar company that is struggling to get growing again. The company isn’t expected to return to year over year growth until 2011.
The company has … Read the rest