Officials from the town of Ayer are expressing concern over Evergreen Solar’s safety procedures at its plant in Deven, Mass. after three spills of toxic material were reported from the plant. The plant has been in operation since July. In October, the first spill occurred: 500 gallons of a toxic "cocktail" that included hydrofluoric, nitric and sulfuric acids. In February, 100 gallons of sodium hydroxide was released. In March, 20 gallons of 20-30% hydron peroxide … Read the rest
Tag Archives: evergreen solar
Evergreen Solar Panels (ESLR) To Be Used in German EV Charging Station
Evergreen Solar’s solar panels will provide the juice for a new electric vehicle recharging station in Frankfurt, Germany. The station, which provides power for small electric vehicles like electric scooters, is located conveniently close to a shopping center, so customers can re-charge their EVs while they shop.
According to SustainableBusiness.com, here’s what Peter Rusch, Evergreen Solar’s director of marketing and sales for Europe, the Middle East and Africa, had to say about the installation:… Read the rest
Evergreen Solar (ESLR) In Partnership With RMT, Inc
Evergreen Solar just announced a new partnership agreement with RMT, Inc. Under the terms of the agreement, the two companies will work together to market utility-scale solar projects to electric companies and project developers.
The companies will place bids jointly for these types of projects. RMT will handle engineering, procurement and construction and Evergreen Solar will supply solar panels for the projects. So far, the two companies have bid on more than 400 MW worth … Read the rest
Evergreen Solar (ESLR) Receives High Marks In Tests
Evergreen Solar’s ES-Series String Ribbon solar panel received the highest rating in a performance test performed by German test institute TÜV Rheinland Group. In the test, which is halfway completed, Evergreen Solar ‘s panels delivered the most kilowatt hours of electricity out of all 14 brands in the test. The test is still in progress-these results are for the first 6 months of what will be a year-long trial.
Terry Bailey, Evergreen Solar’s senior vice … Read the rest
Evergreen Solar (ESLR) Solar Panels Make Up One of Germany’s Largest Installations
Evergreen Solar (ESLR) announced this afternoon that the first stage of construction is nearly complete for one of Germany’s largest solar installations. The roof of a tunnel on Germany’s A3 highway will be outfitted with 16000 Evergreen Solar panels on 2.7 km and generate 2.8MW of energy which is enough to power around 600 homes annually.
“This project is a testament to the fact that when both government and developers work together in a … Read the rest
Citi Slashes ESLR Price Target, Barclays Initiates Solar Coverage (YGE, LDK, TSL, SOL, CSUN, SOLF)
According to StreetInsider.com, Citi is out maintaining it’s HOLD rating on Evergreen Solar (ESLR) but cut the price target from $6 to $3.
Says Citi:
“We applaud ESLR’s new strategy to focus on its competitive advantage making wafers that use less silicon. But even with much lower capital intensity, it still faces a tradeoff between slowing capacity expansion to preserve cash or gunning it, hoping to raise money. While this move makes this stock … Read the rest
Evergreen Solar (ESLR) Considers Outsourcing
According to PV-Tech.org, Evergreen Solar is considering outsourcing some of its production to Asian subcontractors to cut costs. This move would allow Evergreen to address its current backlog in orders and move forward with expansion plans while reducing its need for capital.
Evergreen Solar’s President and CEO commented on the possibility of outsourcing during the company’s 4th quarter earnings call:
… Read the rest“Using a subcontractor would significantly reduce our need for expansion capital, while allowing us to
Analysts: Buy American Superconductor (AMSC), Downgrade Evergreen Solar (ESLR)
Analysts are out with a few notes this morning – an initiation of coverage on American Superconductor (AMSC) with a BUY and a downgrade of Evergreen Solar (ESLR) to NEUTRAL.
According to StreetInsider.com, Piper Jaffray downgraded ESLR to Neutral for the following reasons:
– rapidly losing polysilicon cost advantage
– low visibility in financial impact of outsourcing production to Asia
– minimal balance sheet flexibility for pursuing expansion in Asia
Broadpoint AmTech Initiates Coverage … Read the rest
Another Losing Quarter For Evergreen Solar (ESLR)
For the 2nd straight quarter Evergreen Solar (ESLR) posted a loss, but taking out one time costs of $23 million for the closure of the Marlboro pilot facility, $8 million for the write off of research and development equipment and $9.7 million for facility startup costs at Devens and Midland, the company reported a loss of .07/share, less than analyst expectations of a .14/loss. However, revenues were a bit of a disappointment in the quarter, … Read the rest
Solars Hold Up Well Despite Piper Jaffray Estimate Cuts
According to StreetInsider.com, Piper Jaffray is out cutting estimates on the solar sector due to poor visibility. Piper analyst Jesse Pichel lowered industry estimates for the 1st half of 09 and downgraded their rating of Canadian Solar (CSIQ) to Sell and ReneSola (SOL) to Neutral due to low order visibility for Q1 in Germany and zero visibility in other markets but expects some recovery in late spring, early summer but only if credit markets … Read the rest