MEMC Electronic Materials just announced that it will be acquiring Solaicx, a company that has developed a patented continuous crystal growth manufacturing technology. This technology enables solar companies to produce more efficient monocrystalline silicon wafers at a low cost.
Solaicx is privately held; MEMC Electronic Materials will pay its securityholders $66 million in cash plus additional cash to cover their costs for recent investments made prior to closing, which is expected to be about $10 … Read the rest
Another wild day and I’m busy watching the market and getting behind on green stocks updates! Lots of analyst rating changes today..
Wunderlich Securities upgraded MEMC Electronic Materials (WFR) from Hold to Buy. Shares of WFR of doing a decent job of holding all time lows despite being hammered after earnings and during yesterday’s market crash. Get a Free WFR trend analysis here.
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Craig-Hallum downgrades Fuel Systems Solutions (FSYS) Buy to Accumulate and slashed … Read the rest
It’s always a real challenge to keep up during earnings season and I burned out a bit by Friday. I’ve got a bit of catching up to do today and I start with Friday’s analyst alerts. Hat tip to Street Insider for the analyst comments.
A couple calls on Rubicon Technology (RBCN), the emerging LED play, following its earnings report last week…
Canaccord Adams reiterated a Buy and raised the price target from $30 … Read the rest
SunEdison, a division of MEMC Electronic Materials,has just announced that it has been selected to build 12 new solar power plants in Italy. The plants are to be located in the Lecce, Apulia. Each will have a capacity of 1MW. To finance the projects, SunEdison also announced a financing deal with Norddeutsche Landesbank for 47 million euros.
In a press release, Carlos Domenech, president of SunEdison, commented on the news:
MEMC Electronic Materials’ SunEdison just announced that it has been selected to develop and construct as many as 14 rooftop solar PV systems for The Remington Group in Ontario, Canada. The systems, with an expected total capacity of up to 3 MW, will be build on top of Remington facilities and the power produced will be purchased by the Ontario Power Authority.
A few more analyst calls this morning. Collins Stewart has downgraded shares of Canadian Solar (CSIQ) from Buy to Hold and has a $20 – 24 price target on it. They believe that while strong demand has led to a firming of module prices, but it’s so strong that its pulling up the prices of cells and wafers which may weigh on CSIQ margins. Shares of CSIQ are trading down 5% today and appear headed … Read the rest
MEMC Electronic Materials just announced that its division SunEdison has been selected to build a 72 MW solar power plant in Rovigo, Italy. The project is expected to be the largest European solar power plant. It is expected to begin producing power in the second half of this year, and to be completely finished by the end of 2010. SunEdison is partnering with Banco Santander for financing and expects to line up other financial partners … Read the rest
SunEdison, a subsidiary of MEMC Electronic Materials, just announced that it has been selected by Xcel Energy’s subsidiary Southwestern Public Service Company to build five 10 MW solar PV installations in New Mexico, for a total of 50 MW of solar power.
Under the terms of the agreement, SunEdison will finance and build the installations and Xcel will buy the power under a 20-year purchase agreement.
MEMC Electronic Materials just announced that they have acquired an ownership stake in Taiwanese solar wafer manufacturer Eversol. To start with, MEMC Electronic Materials amended a contract with Gintech to allow it to purchase Gintech’s 8.36% interest in Eversol at the price Gintech originally paid for it. Then, MEMC spent 5 million more on an additional 5.1 million shares, meaning that it currently owns a 10.6% stake in the company.
According to this press release, SunEdison, a subsidiary of MEMC Electronic Materials, has entered an agreement with the The Irvine Unified School District (IUSD) Board of Education and SPG Solar to build solar PV installations to generate electricity for 21 school district sites.
Per the agreement, SunEdison will handle all of the upfront costs of financing, building and maintaining the installations, while the school district purchases the power. The installations will also be used to … Read the rest
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