It’s been a good start to October for Satcon Technology (SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market. A week ago the company announced a 40MW deal with Q-Cells and this morning announced a 35MW deal with Borrego Solar. Borrego will utilize the entire suite of Satcon products for various projects which include military, commercial and utility installations over the course of the next year.
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The good news out of the green energy space has been few and far in between for many months now, but today Satcon Technology (SATC) which is a leader in utility scale solar power conversion solutions, was selected by Q-Cells North America to supply 40MW of their Prism Platform solution for the big Starwood project in Ontario.
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The company needed some good news. That stock has … Read the rest
Another solar company earnings report and the song remains the same. EPS hit with soft guidance due to European subsidy cuts. Satcon Technology (SATC) is issuing an earnings report right along the lines of other solar companies with revenues about inline with estimates at $46 million, but a with significant miss on the EPS side posting a loss of .18/share vs the estimate for a .12/share loss.
Satcon Technology (SATC) will be the solar inverter supplier for a 19.5MW solar project in Germany. They will supply 39 of their PowerGate 500kW which represents the largest German order for the company.
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“The Tauberlandpark project is one of Germany’s largest Utility-Scale solar power installations,” said Andreas Schneider, Chief Executive Officer of relatio Holding. “A project of this scale demands that we partner with an industry … Read the rest
According to Barrons, Jefferies believes that fears about a slow down in solar business in Germany due to caps on investments in renewable energy are overblown and that Germany is committed to making clean energy 18% of total energy consumption within the next 10 years.
Analyst Jesse Pichel’s visits with officials and companies in the Berlin area indicate that “there will be no German solar cap in 2011, but the [German Environment Ministry] does … Read the rest
Satcon Technologies (SATC) posted mixed earnings results this morning missing on the EPS side with a .02/share loss (vs analyst estimates of .01/share loss), but beating on the revenue side posting $58 million vs the analyst estimate of $52 million. Despite the small miss in EPS, it’s a big improvement over the year ago quarter when the company posted a .12/share loss. Revenues increased nearly 6 fold over the year ago quarter, so this remains … Read the rest
Satcon Technology (SATC) has issued preliminary 3rd quarter results this morning and expects revenues to be much better than expected, but doesn’t see that translating into a profit. The company now sees revenues in the range of $56 – $58 million vs the analyst consensus estimate of $45.6 million, but on the EPS side the company a 2-3 cent share loss vs the estimate of a one cent share loss. They are raising revenue guidance … Read the rest
Satcon Technology (SATC) is having a good day today. The stock is breaking out to a new 52 week high after announcing a deal with a 63MW solar plant for its Solstice system and have also announced the launch of their next generation solar power inverter, the Satcon Equinox. The new inverter builds upon the success of the industry leading PowerGate inverter offering improved efficiencies up to 98.5%.
Satcon Technology (SATC) is surging in pre-market trading on news the CIRO One 63MW solar plant to be built in Puerto Rico will use 126 of Satcon’s Solstice 500kW power harvesting and management solution. The technology increases the overall energy yield of solar installations by 5 – 12% and reduces system material costs by 20 – 25% compared to a centralized inverter system. Construction of the plant is expected to begin this month. No … Read the rest
Piper Jaffray initiated coverage on several solar stocks last night and is generally bullish with 9 Overweights and a few Neutral ratings. Most of the price targets are way above the current prices. Here’s the run down…
Overweight:
First Solar (FSLR) with 200 price target.
Renesola (SOL) with 20 price target.
Yingli Green Energy (YGE) 14 PT.
LDK Solar (LDK) 12 PT
SatCon Technology (SATC) 5 PT
Trina Solar (TSL) 35 PT
SunPower (SPWRA) 20 … Read the rest