Yesterday, GT Solar (SOLR) announced it has received final approval for the first solar wafer and cell turnkey fabrication line in Greece which is being built for Solar Cells Hellas and has annual capacity of 30MW. Once the operation is up and running, Solar Cells Hellas will officially be the first solar PV manufacturer in Greece.
“Being new to the industry, Solar Cells Hellas needed a partner that we could rely on – one with … Read the rest
SolarEdge, an Israeli company that makes electronic systems which boost the efficiency of solar panels, just announced that they snagged a deal with BP Solar. Under the joint agreement, BP Solar will begin incorporating Solar Edge’s systems, which boost efficiency up to 20-25%, into its solar modules and look at the possibility of commercializing them. Currently, the two companies are testing Solar Edge’s products to see how well they hold up under conditions designed to … Read the rest
LDK Solar (LDK) announced after the bell today that it has begun construction on the first of five solar PV plants in the Apulia region of Italy totaling 5MW. LDK Solar is teaming up with leading Italian systems integrator ESPE and will provide the solar wafers for the projects.
“We are very excited to expand LDK Solar’s presence into Italy,” stated Xiaofeng Peng, Chairman and CEO of LDK Solar. “The PV market in Italy is … Read the rest
Yingli Green Energy (YGE) is erasing Friday’s losses after Collins Stewart maintained its Buy rating and raised the price target from $10 to $11 and Lazard Capital upgraded the stock from Hold to Buy this morning.
Here are the comments from Collins according to Street Insider. Not exactly bullish comments!
“YGE’s 1Q09 revenues were $146M, 20% below our $181M forecast and the $194M consensus. Revenues were down 36% yr/yr and 43% sequentially. We estimate … Read the rest
Canadian Solar (CSIQ) is well off the morning lows and now trading up 3% after reporting a better than expected non GAAP loss of .10/share, but on revenues that plunged 71% over the year ago quarter to $49.5 million. The CEO said the company closed the quarter with a strong, liquid balance sheet and is increasing its sales staff. He believes Q2 shipment levels will be significantly higher than Q1, but is cautious due to … Read the rest
Evergreen Solar has not yet been able to locate the source of the noise pollution coming from its plant in Devens, MA. The deadline to resolve the issue is the 31st of May. Evergreen has tried repairing equipment in the plant, but the noise, described in this article from Devens News as a "pure tone," has not been silenced. The company has brought in outside consultants to try to pinpoint the problem so that it … Read the rest
Akeena Solar (AKNS) is announcing today that it has begun shipping its Andalay solar power systems directly to installers throughout the US including Colorado, Connecticut, Delaware, New York and Washington.
“We’re excited to have innovative solar installers eager to bring Andalay AC panels to even more homeowners and businesses. The distribution success follows the recent announcement of a nationwide, two-year mutually exclusive partnership between Akeena Solar and MS Solar Solutions Corp. (“MSSS”), a subsidiary of … Read the rest
Yingli Green Energy (YGE) missed EPS and revenue estimates by a wide margin, but the stock is holding up reasonably well, off just 5%. The company reported an EPS loss of .09/share on revenues of $146 million. That’s a 36% haircut on the revenue side from the year ago quarter. The CEO rhetoric remains the same.. poor economy, tight credit conditions, etc. However, CEO Liansheng Miao does believe the 1st quarter marked a low point … Read the rest
LDK Solar (LDK) reported mixed results after the bell yesterday, reporting an EPS loss of .21/share vs analyst expectations of a smaller loss .06/share as well as the whisper number of a .12/share loss, so no surprise the stock is off this morning. I’ts trading down about 13% but off the lows and appears to be finding support at the 50 day moving average. Revenues actually came in ahead of estimates at $283 million which … Read the rest
Along with its earnings announcement this morning, ReneSola (SOL) also announced the acquisition of JC Solar for RMB 118 million. JC Solar is an established solar cell and module manufacturer with about 300 employees and annual cell production capacity of 25MW and annual module production capacity of 50MW. It posted an unaudited net profit of RMB 69 million last year. The move is a first step towards downstream integration for ReneSola and gets the company … Read the rest