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
Florida Power and Light is partnering with SunPower to supply selected Florida schools with solar power stations. 6 Florida schools will receive 5 KW solar panels models as part of FPL’s Next Generation Solar Education Station program. The solar modules will reduce the school’s power bills by $800 per year, as well as providing a teaching tool for children to learn about solar energy. The modules will be set up at ground level so that … Read the rest
SunPower just announced the completion of a joint project with the Rancho California Water District.
The 1.1 MW project, located at the RCWD’s Murrietta water treatment plant, is now up and running. The project will provide emissions-free power to cover some of the energy used by the water treatment plant, saving the water district up to $6.8 million over the next 20 years.
Here’s what Tom Werner, SunPower’s CEO, had to say about the project:… Read the rest
A couple of analyst notes out this morning on Sunpower (SPWRA) according to StreetInsider.com.
Collins Stewart has initiated coverage on Sunpower with a Sell rating and a price target of $20 due to the following:
– rapid price deterioration
– trading at premium valuation relative to its peers
– production costs higher than competitors
– key financial metrics related to asset and capital efficiency below that of peers
Broadpoint downgraded to Neutral and lowered … Read the rest
Sunpower (SPWRA) has announced an agreement to build a 2.2MW solar power plant for Sunshire, a subsidiary of Api Nova Energia of Italy. This is the first solar power plant agreement for Sunpower’s Italian subsidiary which will be financed by regional banks via a leasing agreement
“We are pleased to partner with Api Nova Energia to deliver clean, reliable solar power to the rapidly expanding Italian market,” said Luca Bandini, general manager of SunPower … Read the rest
SunPower just announced the completion of Australia’s largest rooftop solar installation. The installation consists of 350 KW worth of solar panels mounted on the roof of the Crowne Plaza Hotel rooftop in Alice Springs.
Bob Blakiston, SunPower Australia’s managing director, commented on the accomplishment:
… Read the rest"We are proud that Invest North chose SunPower’s high-efficiency solar panels to help power its flagship hotel in Australia. This installation is a testament to the growing adoption of solar energy
PPL Energy PLus, a division of PPL Corp (PPL) announced it has signed an agreement with Sunpower (SPWRA) to purchaxe New Jersey Solar Renewable Energy Certificates (SRECs) over the next next 10 years.
SRECs are certificates representing the energy benefits generated from solar energy and are issued each time one MW hour of electricity is generated. They can then be sold or traded. PPL will purchase SunPower SRECs which provide them with the funds needed … Read the rest
Solars and Sunpower (SPWRA, SPWRB) are rallying today following a headline Barrons piece, calling Sunpower (SPWRA) a best of breed solar company “starting to see a new dawn” that can survive and grow despite an extremely difficult economic environment.
The article points out that SunPower has an advantage in estimating demand because of its large network of dealers, will benefit from the upcoming utility tax credits for renewable energies and features the most efficient solar … Read the rest
Just two days ago, analysts from FBR, Thomas Weisel and Pacific Crest slashed estimates on SunPower (SPWRB, SPWRA) earnings for 2009 as they reiterated concerns of credit issues and slowing demand yet again. It’s the same song and dance that has played out for several months now. Those headwinds may play out in 09 but for now SunPower is proving itself to be relatively immune to those concerns. Today after the bell, the company reported … Read the rest
Sunpower (SPWRA, SPWRB) will report earnings on Thursday after the bell and analysts are rushing in to slash estimates ahead of the earning announcement. According to Barron’s, Friedman Billings Ramsay, Thomas Weisel Partners and Pacific Crest all issued warnings this morning.
– Mehdi Hosseini of FBR reiterated his Market Perform rating but cut his 09 EPS estimate to $2.06 from $3.02 due to slow demand in Italy and the US.
– Jeff Osborne of … Read the rest