Shares of ReneSola (SOL) are off nearly 15% in premarket trading after the company reported an EPS for the 3rd quarter of .46/share, which topped estimates of .36/share but the company sees FY08 revs of $640 to 670 vs estimates of $698. In addition, the COO resigned effective Nov 1 to pursue other interests.
“Looking ahead, we are confident the current challenges in the industry are temporary and that the mid- to long-term prospects remain … Read the rest
China Sunergy (CSUN) has announced a 7 year sales agreement to supply Wuxi Guofei Green Energy of China with 10 MW of moncrystalline cells each year beginning in 09 with CSUN receiving an advance payment after the signing of the agreement.
“This represents a significant domestic sales agreement for China Sunergy and secures a long-term demand for our monocrystalline cells,” remarked Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. “The payment terms of … Read the rest
A-Power Energy (APWR) announced today that its signed a contract with China National Automation Control System Corp for the sale of five 2.7 MW wind turbines with delivery to occur later this year for use in wind farm projects in the Gansu province and Inner Mongolia Autonomous region. These are the first wind turbines produced at A-Power’s new production facility in Shenyang, China which is designed with annual capacity of 300 of the 2.7MW wind … Read the rest
While searching for green stocks its important to follow green trends. The Economist reports that "China’s increasingly affluent citizens may not all be able to afford cars just yet. But they clearly yearn for some motive power beyond that provided by their two legs. The standard bicycle, synonymous with mass transport in China, is not enough for everyone. Over the past few years electric bikes, with small motors that give a little help to the … Read the rest
Gushan Environmental (GU), China’s largest producer of biodiesel topped estimates this morning with a non GAAP EPS of .23/share, edging out estimates of .22/share for an increase in 64% over the year ago period. Revenues came in ahead of estimates as well with 58.3 million in the quarter, a jump of about 35% over the year ago quarter.
“Gushan continued to deliver growth during the second quarter of 2008 as production ramped up at our … Read the rest
Hoku Scientific (HOKU) ramped up 15% today and above the 50 day moving average on news of a big supply deal for solar grade polysilicon. HOKU will supply China based Kinko Energy with solar grade polysilicon over a 10 year period beginning in late 2009 with a value of approximately 300 million. The contract calls for an initial $10 million payment to HOKU and additional prepayments of 20 and 25 million over the next … Read the rest
According to Street Insider, shares of A-Power (APWR) are trading more than 10% higher today on news that the company has completed construction of the first phase of its 310, 000 sq foot wind turbine production facility in Shenyang, China. CEO Lu said, "We are excited to announce the on-time completion of the first phase of our wind turbine production facility which we believe is the largest wind turbine production facility in China."… Read the rest