China Sunergy (CSUN) is announcing some positive news this morning with a 23MW solar module supply deal with Germany’s SUNfarming Group. SUNfarming will use the modules in both rooftop and ground mounted system for both residential and commercial customers within Germany. All modules will be shipped this quarter.
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Stephen Cai, CEO of China Sunergy, commented: "This is an important sale for China Sunergy because it signals … Read the rest
Despite continued concerns about a solar slowdown in Italy and Germany across the solar industry, China Sunergy (CSUN) is forging ahead with a plan to increase solar cell capacity by con-investing $1.8 billion (RMB) in a 1GW expansion project. The first batch of 500MW is expected to be commercialized within a year. China Sunergy will be producing its newly developed Quasar cells with an increased efficiency of 18.85% and hopes to achieve 20% efficiency with … Read the rest
Shares of China Sunergy (CSUN) popped this morning after the company posted earnings results that beat analyst estimates on the bottom line but didn’t live up to expectations on the top line. The company reported an EPS of .37/share (vs analyst estimate of .33/share) on revenues of $170 million (vs analyst estimate for $175 million). It looks like traders favored the improvement in margins and the beat on the EPS side, but by the end … Read the rest
China Sunergy (CSUN) announced today it’s won a 1.1 MW solar module supply contract in Switzerland and will supply Sunergic which is one of Switzerland’s leading solar system integrators.
"We are very pleased to partner with Sunergic S.A. on one of the largest PV solar projects in Switzerland," said Mr. Stephen Zhifang Cai, CEO of China Sunergy. "This partnership demonstrates our concerted efforts to explore new markets. We believe there will be more opportunities like … Read the rest
China Sunergy (CSUN) has secured a 7 MW solar module supply contract with CEEG (Nanjing) Solar Energy Research Institute, for the Nanjing South Railway Station solar roof project. It’s the world’s largest stand-alone building integrated photovoltaic (“BIPV”) project for one structure and will be one of the most energy efficient public buildings in China. The company announced a big 120MW Italian solar supply deal just a couple weeks ago.
China Sunergy (CSUN) has announced that it’s agreed on a supply deal with a leading Italian solar developer to supply 120MW of solar modules from now through Q3 2011. CSUN was able to secure the deal because of the acquisitions of Shanghai Solar Science & Technology and Nanjing New Energy which had a previous relationship with Ecoware.
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“We are very pleased to continue our partnership … Read the rest
China Sunergy (CSUN) and Pythagoras Solar, an Israeli provider of building integrated photovoltaic (BIPV) products, announced the signing of an agreement to co-market and advance the development and scale manufacturing of BIPV products from 2010-2015 in China. Research firm NanoMarkets estimates that the BIPV market could increase more than 10-fold to $8 billion by 2015. Pythagoras is an interesting company which is leading the way in creating solar energy producing windows and this partnership hopes … Read the rest
China Sunergy (CSUN) reported Q3 earnings results this morning that smashed analyst estimates on the EPS side, but inline on the revenue side. The company reported an EPS of .37 (well ahead of the .20/share estimate) on revenues of $126 million which matched the analyst estimate. That’s good for quarter over quarter growth of 95% and 57% respectively.
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“Supported by continued strong solar market … Read the rest
China Sunergy (CSUN) announced after the bell today that its CFO Siegfried Yi Chou Hsu had resigned for personal reasons on Sunday and that a replacement is being pursued. In the meantime, Yongfei Chen will act as interim CFO while the CEO will oversee investor relations programs. Chen joined China Sunergy today, coming over from China Electric Equipment Group where he was the general manager of finance.
China Sunergy (CSUN) reported results this morning and while they missed slightly on the revenue number posting $117 million, they smashed EPS estimates with a profit surge of .33/share. That was nearly double the analyst estimate of .18/share and a new record for the company. It’s also more than double the EPS of last quarter and more than 10x the EPS from the year ago quarter.
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