Update: Now it’s being dumped after hours.. down about 10%.
Sunpower (SPWRA) is out with earnings after the bell and missed badly reporting non GAAP EPS of just .05 share vs consensus estimates of .39. Revenues came in about 20% lower than the year ago quarter at $214 million which is considerably lower than estimates of $269.
The CEO commented that the quarter was the most challenging in its history, but despite the headwinds was … Read the rest
SunPower (SPWRA) will begin supplying its high efficiency solar panels and Tracker technology beginning next year to FPL Group (FPL) it was announced today. It’s also being announced that the the company will locate a research and development center employing up to 50 employees in Florida if the state government continues to support the deployment of additional solar energy. This is follow on work to previous partnerships. No word on the size of this deal. … Read the rest
Wal Mart (WMT) announced today it is going to double its use of solar energy in California over the next 18 months by installing solar panels on 10 – 20 of their stores, adding to the 18 solar arrays already in place. The company expects to generate up to 32 million kilowatt hrs of renewable energy per year, remove 22,500 metric tons of carbon dioxide emissions and provide 20 – 30% of the total electricity … Read the rest
According to StreetInsider.com Citi is out with a hold on First Solar (FSLR) but is raising the price target from $130 to $150.
Citi believes the solar industry is entering a sustainable period of secular growth with business models in the space “exhibiting positive earnings leverage.”
“Consistent with our investment framework, we believe that solar stocks, in general, should trade at a premium to the broader market given fundamental demand drivers that should fuel earnings … Read the rest
Applied Materials just announced that its Sunfab line of thin-film panels has been certified by Green Energy Technologies. Now that the certification process is complete, GET can begin using the panels in large-scale solar projects throughout Taiwan.
In an article posted on PVtech.org, GET’s president, Mr. Hurlon Lin, commented, “The key to success in the solar market is the ability to drive down manufacturing cost by employing outstanding technology and manufacturing expertise. This is … Read the rest
Despite the global economic crisis, LDK Solar has stated that it still has enough standing orders for its solar wafers to keep the company stable. According to the company, it received 14 orders for solar wafers last year and is scheduled to deliver 14,000 megawatts worth of product by 2019.
From TradingMarkets.com, here’s the latest on LDK Solar’s production capacity:
According to an insider with LDK Solar, the company’s annual solar wafer capacity had … Read the rest
Canadian Solar has just announced that it has signed a 5 MW purchase agreement with Helio Micro Utility. Under the agreement, Helio Micro Utility will purchase 5 MW of solar modules from Canadian Solar’s line of PV solar modules.
In , executives from both company’s commented on the deal:
Dr. Shawn Qu, President and CEO of Canadian Solar, commented, “Canadian Solar is already one of the fastest growing solar manufacturing companies worldwide and this strategic … Read the rest
With Applied Material’s share prices suffering in the wake of a $1.9 billion solar contract being cut to $250 million, the company is taking steps to try to ensure continued demand for its products. In an interview with Clean Technology Insight, Charles Gay, president of Applied Material’s solar unit, advised that the company has been talking to utilities both in the US and in China to try to stimulate demand for its thin-film solar panels. … Read the rest
Suntech just announced that the company’s Eagle Solar Roof with SolarBlend(TM) is a 50+ SMART CHOICE award winner. The award, which is given by the 50+ Housing Council and the Sales and Marketing Council of Southern California, recognizes produces which stand for being innovative and environmentally friendly.
The Eagle Solar Roof is a building integrated PV roof that provides solar power to residential homes, produced as a joint venture between Suntech and Eagle Roofing company. … Read the rest
Xcel Energy and SunPower are working together to build a 17 MW PV solar plant in Colorado. The plant is expected to be finished 2010, and will be the second-largest high-efficiency solar PV power plant in North America. SunPower’s Tracker system will be utilized to increase power generation from the plant.
In a company press release, leaders from both companies commented on the announcement:
We believe that solar power generation will play an increasingly … Read the rest