China Sunergy (CSUN) has announced a 7 year sales agreement to supply Wuxi Guofei Green Energy of China with 10 MW of moncrystalline cells each year beginning in 09 with CSUN receiving an advance payment after the signing of the agreement.
“This represents a significant domestic sales agreement for China Sunergy and secures a long-term demand for our monocrystalline cells,” remarked Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. “The payment terms of … Read the rest
News is out that the Senate has extended $18 billion in tax credits for renewable energy sources but it sill needs to be approved by the House which is expected. The energy tax credits are part of a much larger bill, but here is the energy portion:
* Extends for one or two years and expands production tax credits for wind, refined coal, biomass and marine renewables. $5.8 billion.
* Extends through 2016 the investment … Read the rest
According to StreetInsider.com, Piper Jaffray analyst Jesse Pichel has commented on the solar stocks that are related to the Lehman bankruptcy, saying that Sunpower (SPWR), JA Solar (JASO) and Evergreen Solar (ESLR) are negatively affected with respect to prior convertible bond transactions and stock lending agreements. The firm said it would be prudent to assume the worst.
On JASO: “We estimate JASO would realize ~4% dilution on stock and incur a non-cash write off … Read the rest
Hoku Materials, a subsidiary of Hoku Scientific, Inc, announced today that it will terminate supply contracts with two of its customers, Sanyo Electric Co and Global Expertise Wafer Division Ltd, in a bid to reallocate resources to other customers.
Hoku Materials, Inc makes and sells polysilicon for solar power. Recently, Hoku announced polysilicon purchase contracts worth more than $1 billion with three different companies. Hoku Materials has entered into agreements with Kinko Energy, Tianwei New … Read the rest
The Rocky Mountain News reports that Xcel Energy Inc has voluntarily offered to shut down two coal-fired power plants to reduce emissions. The company’s plans have been approved by state regulators, and the plants will close in 2010 and 2012. Xcel will build a 200-megawatt solar energy facility and add 850 megawatts of wind energy in order to replace the older coal-fired plants. Several solar companies have expressed interest in bidding on the solar plant, … Read the rest
The credit crunch has so far had little impact on the attractiveness of renewable energy as an investment, according to Ernst & Young.
From March 2007 to June 2008, the Wilderhill Clean Energy Index [NEX] rose by 17%, compared with an 11% decline for the FTSE index. The solar sector has shown a rise of 56% during the period, while wind companies fell 7% and biomass stocks were down by 34% on average. 
E&Y … Read the rest
Call activity is picking up in the solar names. Suntech Power Holdings (STP) was up over 12% today to $41.75. Almost 5,000 STP Sept 45’s traded today vs and open interest of 5,351. There was also roughly 600 Oct 45’s, 1,000 Oct 50’s, and 500 Oct 55’s vs almost zero open interest before today.
CSIQ saw similar action. The standout strike is the Sept 30 that traded 6,600 contracts today vs an open interest of … Read the rest
Adam from The Daily Options Report writes: “FSLR feels particularly enticing. Options are very cheap by FSLR standards. Which makes some degree of sense when you consider that the stock has settled into a range. But some interesting things here. It’s basically moving with the whole energy/ag/mining space right now. And has dribbled right back the to 200 Day MA. Not terribly likely it just settles in peacefully around here this week without some degree … Read the rest
Briefing.com reports that Canadian Solar reports Q2 results, beats on revs; guides Q3 revs in-line; guides FY08 revs in-line Reports Q2 earnings of $0.36 per share, includes one-time non-cash debt conversion charge of $10.2 million, may not be comparable to the First Call consensus of $0.47; revenues rose 24.2% year/year to $212.6 million vs the $206.8 million consensus. Co issues in-line guidance for Q3, sees Q3 revs of $245-255 million vs. $247.63 million consensus. Co … Read the rest
First Solar recently announced second-quarter revenue of $267 million which is more than 3 times its revenue from second quarter 2007. According to Zacks its a top rated alternative energy company. Its stocks have recently traded sideways and is consolidating with key levels of resistance at $290.00… Read the rest