Praxair (PX) signed a multi-year with Evergreen Solar (ESLR) to supply bulk industrial gases for its solar wafer manufacturing facility in Wuhan, China. Praxair has been a supplier for ESLR’s US operations for several years and will now support their new China operations.
Praxair is the largest industrial gas supplier to the solar industry and server more than 50 manufacturing facilities worldwide.
“Evergreen Solar is a valued customer of Praxair in the U.S., and we … Read the rest
I’ve been saying for awhile now that Evergreen Solar (ESLR) is a good candidate for going out of business or being bought out at fire sale prices. Nothing has changed. The company still burns through cash and is months away from getting manufacturing operations going at full speed in China. Time is running out and the first step to extinction is a delisting from the Nasdaq.
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Evergreen Solar just announced the release of a new product line featuring its BOOST (TM) technology for improved efficiency. The new ES-D and ES-E series will feature this technology, which uses microwires instead of bus-bars to create a more attractive panel that produces more electricity.
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In a press release, Scott Gish, Evergreen Solar’s Vice President, Sales and Marketing, commented on the news:
“ The new … Read the rest
Street Insider was out with a research note from iSuppli today forecasting big growth in solar leader Germany ahead of the feed-in-tariff reduction in July which will have companies scrambling to complete installations. That’s not too much of a surprise, but the firm also sees significant growth after the tariff reduction, particularly in rooftop solar systems.
They are forecasting 6.6GW of solar installations for 2010 in Germany which is a 70% increase over last year, … Read the rest
Evergreen Solar just announced that its ES-A series String Ribbon solar panels have been certified for coastal installations. To receive certification, the panels passed IEC 61701 salt mist corrosion testing for PV panels, meaning that they were exposed to a super-strong salt solution for 4 days without exhibiting signs of damage or corrosion. Evergreen will feature the products at the Genera Solar Show in Madrid, Spain from May 19th to the 21st.
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A few analyst notes to tell you about this morning on EnerNOC (ENOC) which reported earnings last night and Evergreen (ESLR) which reported uninspiring results two days ago. Clearly, these companies are heading in opposite directions and the analysts agree. Hat tip to Street Insider for the following analyst comments.
Both UBS and Citi maintain their Sell ratings on ESLR. UBS lowered the price target to below a buck at .90 and the FY10 EPS … Read the rest
Evergreen Solar (ESLR) reported uninspiring results again this quarter as profitability remains elusive. The company upped guidance a few weeks ago, which gave the stock some life, but it’s back towards all time lows. There are some highlights in the quarter, but as I’ve said in the past, unless this company can cut costs significantly they aren’t going anywhere. The strategy to “go somewhere” is to go elsewhere for manufacturing.. China. There is some good … Read the rest
JA Solar (JASO) raised guidance about two weeks ago and Evergreen Solar (ESLR) is out with preliminary results tonight, but the two companies still aren’t in the same league. ESLR is saying that 1st quarter shipments have increases to a new company record of about 35.4MW with revenues at about $78.5 million and an average selling price of $2.20/watt. However, manufacturing costs remained about where they were last quarter which is disappointing for a company … Read the rest
Evergreen Solar just announced that a new 5MW Italian solar plant is online using Evergreen Solar panels, the largest Evergreen installation thus far. The plant uses 24,600 Evergreen Solar ES-A series String Ribbon solar panels to produce sufficient electricity for about 2,400 homes.
In a press release, Scott Gish, Evergreen Solar’s vice president of sales and marketing, commented on the news:
“This is a milestone project for Evergreen Solar as we continue to expand our … Read the rest
In a weekend piece over at Barron’s, Eric Savitz sees a rough road ahead for the solar industry as capacity continues to outpace demand for years to come. He highlights the fact that while demand has picked up ahead of the German solar subsidy cuts in a few months, capacity still outpaces demand and the situation will only worsen as the German subsidy cuts take place, putting some solar laggards out of business.
Its … Read the rest