Solarfun (SOLF) announced this morning that their Jianghsu Linyang subsidiary has signed a letter of intent with the government of Hohhot City in the Inner Mongolia region to develop two solar projects with a total capacity of 600MW along with a 100MW production facility.
The Solarfun CEO commented, “Hohhot City has been approved to be one of the pioneer cities for using PV systems by the National Development and Reform Commission and it is a … Read the rest
Solarfun just announced that it has been granted credit in the amount of RMB400 from the Bank of Shanghai. The credit was granted to Solarfun’s subsidiary Jiangsu Linyang Solarfun Co., Ltd, and RMB 300 million of it is a 3-year loan.
In a press release, Solarfun President Peter Xie commented on the news”
“The additional credit facility provided by Bank of Shanghai gives us greater flexibility as we continue to
execute on our growth strategy … Read the rest
Solarfun (SOLF) is trading up about 5% premarket after beating both on EPS and revenues. The company posted a non GAAP EPS of .08/share vs the analyst estimate of a .04/share loss. Revenues also came in better than expected (about $8 million higher) at $125 million. Those numbers are still way off from the year ago quarter but a significant improvement sequentially, indicating that the financial bottom may be in for Solarfun.
Highlights
– PV … Read the rest
Solarfun (SOLF) is announcing today the introduction of SF2, a line of full square monocrystalline cells and modules. The full square shape takes advantage of more surface area, resulting in higher output and up to 5% greater efficiency.
Solarfun just announced a supply agreement with Nobility Solar Projects. Under the agreement, Solarfun will supply Nobility with 14.2MW of PV modules, with the transaction to take place in the latter part of this year.
In a press release, executives from both companies commented on the deal:
Peter Xie, President of Solarfun, commented, “Eastern Europe, and specifically the Czech Republic, is a good new developing market for solar products. Our agreement with Nobility demonstrates … Read the rest
Solarfun (SOLF) is up nearly 10% in premarket trading after reporting much better than expected earnings results. The company reported a loss .02/share vs the consensus estimates of a .17/share loss on revenues that were right about in line with estimates at $100 million. Considering the loss this quarter was considerably less than last quarters .40/share loss, perhaps the company is beginning to stabilize. However, the quarter represented the first quarter over quarter revenue decline … Read the rest
According to StreetInsider.com, Collins Stewart is maintaining its Sell rating on both Suntech Power (STP) and Solarfun (SOLF) but raising its price targets on both. It’s raising the price target on STP from $6.50 to $10 and raising the price target on SOLF to $3.
Suntech commentary:
Collins analyst says, “Our CY09 forecast calls for STP generate $1.73B in sales and EPS of $0.20, both of which are below the consensus of $1.86B and … Read the rest
By Sam Hopkins
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The global clean energy puzzle has more than one piece. . .
So today, let’s take a look at the pivotal pros and cons of renewable energy investing in different regions of the world.
As we check out the challenges as well as the opportunities in each place, we gain a more integrated view, and our investment choices can be honed.
North America
Pro: … Read the rest
Hoku Materials, Inc. and Solarfun just announced a renegotiation of the polysilicon supply contract between the two companies. Solarfun was previously obligated to pay Hoku $18 million by March 31st, but the agreement has been changed so that Solarfun can pay in installments according to the following schedule: 1) $5 million paid on March 30; 2) $8 million in July $2009; 3) $5 million to paid in installments of $1 million each during August and … Read the rest
These solar earnings reports really aren’t a surprise anymore. Just more of the same – global economic weakness, credit difficulties, plummeting raw material prices, an inventory glut and so on. From here it’s just a matter of demand picking up to offset the weakness in the cost of the finished product. The important thing to remember is that solar stocks will begin rising long before that equation comes into balance. We’ve seen a good pop … Read the rest