LDK Solar (LDK) is reporting terrible earnings results after the bell today, but it shouldn’t come as too much of a surprise because the company warned of a large write down a few weeks ago. They reported a large EPS loss of -2.03/share (which includes the $175 million write down) vs the analyst expectations of a .91/share loss. No signs of recovery on the revenue side either with a 50% drop over the year ago … Read the rest
Category Archives: Solar Energy
ReneSola (SOL) Reports Narrower Loss, But Misses Revenue Estimates
ReneSola (SOL) reported a narrower than expected Q2 loss of $0.03, beating estimates by .03/share but came up short on the revenue side, posting $82.6 million vs. the consensus of $90.23 million (and more than a 50% plunge over the year ago quarter). On the bright side, it appears the company is doing a good job of cutting costs and increasing efficiencies.
“The second quarter of 2009 marked an historic quarter in ReneSola’s evolution as … Read the rest
A-Power Energy (APWR) Adds Thin Film Solar To The Mix With EvaTech Purchase
A-Power Energy (APWR) is becoming quite the one stop shop for green energy solutions in China. The company is now involved in wind turbines, biofuels, LNG and with today’s announcement of its MOU to purchase EvaTech, thin film solar. The all cash transaction of $50 million will be funded by government subsidies (about 40 – 45%) and loans. APWR expects to sign a definitive purchase agreement with EVATECH by next month and the close … Read the rest
JA Solar (JASO) Shows Some Improvement, But Profits Still Far Off
Another tough quarter for JA Solar (JASO) but it was a bit better than last quarter as the company saw a pick up in revenues. Unfortunately, profits are still nowhere in sight. The company missed Wall St estimates by a wide margin reporting a loss (excluding the one time charge for stock compensation) of .13/share vs the estimate of a .06/loss, despite beating on the revenue side with $88 million. Clearly, this is still a … Read the rest
Suntech (STP) To Supply Solar System For Sham’s Tower In Abu Dhabi
Suntech just announced that they have been chosen to supply solar panels to the Sham’s Tower on Yas Marina Circuit in Abu Dhabi. Under the agreement with Aldar Properties PJSC, Suntech will provide 1,120 panels to be used to create a 292 KW solar system on the roof of the building. The solar system will be installed by an Abu Dhabi-based company called Enviromena. It is expected to generate 450 MW of electricity each year, … Read the rest
Energy Conversion Devices (ENER) Signs Supply Agreement With Mercury Solar Systems
Energy Conversion Devices now has a a multi-year direct supply agreement with Mercury Solar Systems. Under the agreement, Energy Conversion Devices will sell its UNI-SOLAR PV laminates to Mercury, and provide them with technical support for future PV installations. Mercury believes it will purchase 15 MW of the laminates from Energy Conversion Devices.
In a press release, executives from both companies commented on the deal:
Mark Morelli, ECD’s President and CEO, said, “This agreement expands … Read the rest
Cantor Fitzgerald Initiates Real Goods Solar (RSOL) At Buy: "Poised To Take Market Share"
Cantor Fitzgerald is out with a Buy rating on Real Goods Solar (RSOL) this morning and a price target of $5.
Hat tip to StreetInsider.com for the following analyst comment:
The firm commented, Real Goods is one of the largest independent solar installers in California, the largest market in the US. We believe that an attractive mix of strong financial incentives and falling panel prices will lead to stronger adoption of solar PV power systems … Read the rest
Suntech To Construct 100 MW Power Station In Lianyungang
Suntech just announced that it will build a 100MW solar power plant in Lianyungang, China. In pursuit of this goal, the company has entered into an agreement with Lianyungang Economic and Technological Development Zone. The project is divided up into phases. The first phase will be building a 20 MW installation using a CNY 500 million investment. The project is expected to start by the end of this year, and will be performed with the … Read the rest
Canadian Solar (CSIQ) Partnering With One Of China’s Largest Utilities
Canadian Solar (CSIQ) is announcing an important strategic alliance this morning with one of the largest utilities in China. CSIQ and a subsidiary of state owned China Guodian (Guodian Power), one of the country’s 5 largest utilities, will design, invest, build, operate and maintain solar power plants around Gansu, Ningxia and Inner Mongolia to start and develop new markets in the future. The first two projects will break ground in Ningxia with an initial phase … Read the rest
Solarfun (SOLF) Announces Higher Efficiency Square Solar Cells
Solarfun (SOLF) is announcing today the introduction of SF2, a line of full square monocrystalline cells and modules. The full square shape takes advantage of more surface area, resulting in higher output and up to 5% greater efficiency.