Notable Calls is out with a post this morning saying that Oppenheimer is raising their price target on Canadian Solar (CSIQ) following the Intersolar trade show. While cautious on solar overall, they believe CSIQ is positioned well with a low cost structure, allowing the company to price aggressively and take market share. The firm is raising the price target from $14 to $19. They’re also increasing 2009/2010 revenue and EPS estimates to $476/.28 and $655/1.05 … Read the rest
Category Archives: Solar Energy
Veeco (VECO) Purchases Daystar (DSTI) Assets To Enter CIGS Solar Market
It was announced today that Veeco (VECO) will attempt its own push into the copper, indium, gallium, selenium (CIGS) thin film solar market by purchasing equipment and leased facilities from Daystar Technologies (DSTI) as well as hire its R&D department. Daystar is selling the New York operations to reduce expenses and focus on its CIGS on glass core operations until there is a stronger market for flexible thin film applications.
Senior VP of Veeco, David … Read the rest
Applied Materials (AMAT) Releases Applied SmartMove System
Applied Materials just announced the release of its new Applied SmartMove system. The company is billing this system as the “first comprehensive wafer management solution for non-automated 200mm and 300mm fabs.” SmartMove combines Applied Material’s Activity Manager software with a location-aware system for tracking wafers that uses ultrasound and radio frequency technologies. By giving factories additional tracking abilities and control over the movement of wafer lots, SmartMove can allow them to increase their output by … Read the rest
Sydney Theatre Company to Suntech (STP) Pluto Cells For Power
Suntech just announced that the Sydney Theater Company will use Suntech’s new, super-efficient Pluto technology to help power the building. The new system will produce 500 KW of energy and should be up and running by 2010. In conjunction with other energy efficiency measures, the solar panels should enable the Sydney Theatre Company to get by with 70% less power from the grid.
In a press release, Dr. Zhengrong Shi, Suntech’s Chairman and CEO, … Read the rest
Germany’s Q-Cells Issues Profit Warning: "Sees No Sign Of Upturn"
Solar shares will have a tough time getting going today after the world’s largest solar cell manufacturer issued a profit warning. It appears Germany’s Q-Cells has changed its mind. Less than two weeks ago, a spokesman for the company said they had no plans to issue a profit warning, saying, “If Q-Cell were planning to send out a profit warning, I would have heard about it.” What a difference 10 days makes.
In a … Read the rest
ReneSola (SOL) Completes Trial Run At New Sichuan Plant
Renesola (SOL) has announced that the first trial run has been completed at its shiny new plant in China’s Sichuan province. This is the first phase of a two phase, 3000 MT annualized capacity plant which uses the Siemens process and a closed loop to produce the polysilicon. Phase 2 is expected to reach mechanical completion in September.
“The launch of our in-house polysilicon manufacturing facility represents another exciting strategic milestone for ReneSola,” commented … Read the rest
LDK Solar (LDK) Continues Push Into Italian Solar Market With Solar Green Technology Acquisition
LKD Solar (LDK) is expanding its presence in the Italian market this morning by acquiring a 70% controlling interest in systems integrator expert Solar Green Technology. The deal should open up more opportunities in the Italian market.
“We are very excited to acquire a controlling interest of Solar Green Technology,” stated Xiaofeng Peng, Chairman and CEO of LDK Solar. “SGT’s management and workforce have demonstrated strong competence and boasts solid experience in the PV … Read the rest
Upgrades/Downgrades: STP to Sell, TRN & JASO to Buy; ORA Upgraded to Accumulate
Hat tip to StreetInsider.com for the following upgrade/downgrade notes:
Hapoalim downgrades Suntech Power (STP) to Sell with a $9 price target, citing escalating solar module price war.
The firm said, “Evidenced by Ersol’s recent decision to adjust the mid-point of its CY09 EBIT guidance to “negative” vs. +12% before (due to a “sig. drop in prices of solar modules”), we believe “Tier 1” module vendors are beginning to react to price aggression by Chinese solar … Read the rest
Hoku Scientific (HOKU) Retains Deutsche Bank For Possible Sale Of Company
One month ago we first reported on Hoku’s financing concerns for the Idaho plant which sent the stock plunging 30%. Hoku Scientific (HOKU) is taking another nose dive today (down 15%) after it reported that its financial troubles have forced the company to slow construction on its Idaho polysilicon plant while it looks for investors and/or a possible sale of the company. By all indications, it appears this is a company that will soon … Read the rest
Suntech (STP) Signs Agreements For Multi-Gigawatt Chinese Solar Projects
Suntech just announced that it has entered into agreements with several Chinese provincial and city governments for solar projects.
The agreements are as follows: 300 MW for the Shaanxi provincial government, 500 MW for the Shizuishan city government in Ningxia province, 500 MW for Qinghai provincial government, and 500 MW for Panzhihua city government in Sichuan province, for a grand total of 1.8GW. The agreements are contingent on several conditions. Suntech will need to get … Read the rest