Hat tip to StreetInsider.com for this alert today:
Collins Stewart doubled its price target on Trina Solar (TSL) from $11 to $22 and maintained its Buy rating saying, “A combination of factors drives the adjustment to our price target. Since we launched coverage, the prospect for China to become a significant consumer of solar modules has improved, as a limited solar subsidy program has been announced and more are expected in the months ahead. Valuations … Read the rest
Suntech Power (STP) announced today it will supply Switzerland’s Sunergic with crystalline solar PV modules for a 1MW project with a Swiss utility company. 1MW doesn’t sound like much but it’s a milestone for Switzerland and represents the largest solar project to date for the country.
“Switzerland has demonstrated a clear commitment to pursuing sustainable energy solutions and we are pleased to partner with Sunergic to bring solar into the mix,” said Jerry Stokes, Suntech’s … Read the rest
Yingli Green Energy (YGE) has signed an agreement today to be the exclusive polycrystalline PV module supplier for AES Solar for the next three years. Financial terms of the deal haven’t been disclosed.
”We are very much looking forward to cooperating with AES Solar as they work towards supplying homes and businesses around the world with power from their leading utility-scale solar installations,” commented Mr. Liansheng Miao, chairman and chief executive officer of Yingli Green … Read the rest
ReneSola (SOL) has received approval to begin a 5MW building integrated PV (BIPV) rooftop project in China’s Zhejiang province which will provide solar energy across five government buildings across 80K square meters. It should be noted that the project is subject to final approval by the Chinese Ministries Finance & Housing and Urban-Rural Development, although that shouldn’t be a problem given China’s ambitious solar plans. The project will be financed with a government subsidy program … Read the rest
Yesterday Piper was out with a downgrade of GT Solar (SOLR) from Buy to Neutral after the company reported awful earnings results, saying they are moving to the sidelines until the solar industry recovers.
Piper analyst says, “Although SOLR remains well positioned for an eventual unit recovery, is achieving promising R&D developments for next-gen equipment, and has a strong balance sheet, we believe shares of SOLR will be capped at current levels until a … Read the rest
Suntech has relocated its European headquarters to Schaffhausen, Switzerland, and is expanding its sales and marketing teams in Europe to twice the current number of employees.
In a post on , Suntech’s chairman and CEO explained the significance of the move:
“The European market represents close to 80% of our business and has the potential to grow significantly in the coming years,” commented Dr. Zhengrong Shi, Suntech’s Chairman and CEO. “Suntech has already established very … Read the rest
GT Solar (SOLR) has been a solar superstar over the past several months with its stock soaring from just $1.55 last November to a high of around 9 just a few days ago. That kind of run isn’t sustainable and the stock was long overdue for a pull back. It’s been pulling back over the past week and tomorrow morning will test the 50 day moving average around 6 after reporting earnings after the bell … Read the rest
COLEXON Energy selected First Solar’s solar panels for its new installation in Tempe, Arizona. The installation will provide 108 kWp of power to Arizona State University. In a posting on PV-Tech.org, COLEXON’s CEO commented on the project and the company’s partnership with First Solar:
“With this project we gain a foothold in an important market, commented Thorsten Preugschas,” CEO of COLEXON Energy AG. “After our successful market entry in the USA, we are planning further … Read the rest
Energy Conversion Devices (ENER) reported earnings results this morning that were a bit better than expected on the EPS side at .03 share but light on the revenue side, reporting $66 million (vs estimates of $69 million). Revenues were a bit off from the year ago quarter but the EPS took a significant hit which is not uncommon across the solar sector (unless you’re First Solar). It was just a few days ago that the … Read the rest
Evergreen Solar just announced the release of its new black-framed string ribbon solar panel. The new product is identical to the ES-A Series line of 200, 205 and 210 W solar panels, except with a black frame instead of silver, allowing customers to create a more aesthetically pleasing display. Dr. Terry Bailey, Senior Vice President of Marketing and Sales, commented on the new product in a company press release:
“The black-framed ES-A series panels … Read the rest