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
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
Forbes.com notes that the stock prices of major solar power companies like LDK and JA Solar Holdings fell yesterday, as the companies continue to face difficulties from reduced demand and lack of credit.
Here’s a roundup of the stocks they profiled in the article referenced above:
Castle & Cooke Hawaii and SunPower announced today that their new solar energy farm, the La Ola Solar Farm, is now producing solar energy on the Hawaiian island of Lana’i. Utilizing SunPower trackers, the new facility is capable of producing 1.2 MW of solar energy, enough to meet 30% of Lana’i’s electricity needs.
Here’s what Tom Werner, SunPower’s CEO, had to say about the event:
… Read the rest"Clean, reliable solar power will become a core energy investment
Many of the downgrades and earnings misses in the solar names over the past several months have come in part due to the strengthening dollar as much of the sales for these companies are denominated in Euros. Barron’s is reporting that Barclay’s Capital analyst Vishal Shah says First Solar (FSLR), SunPower (SPWRA/SPWRB) and the Chinese solar companies stand to benefit the most. A continued weakening of the dollar along with an Obama presidency certainly could … Read the rest
Wal-Mart and Sunpower announced the completion of Sunpower’s first solar power installation under its contract with Wal-Mart. The project, a 554-KW solar power system, will produce about 15% of the energy needed to power Wal-Mart’s Hanford, CA store.
Wal-Mart is purchasing solar power from Sunpower and other companies for 22 of its locations in California and Hawaii, reducing its greenhouse gas emissions by 7,000 to 8,000 metric tons per year. As part of the … Read the rest
SunPower (SPWRA) announced early this morning a new contract with City Solar of Germany in which SPWRA will provide them with 100MW of solar panels along with commercial rooftop and ground mounted systems over the next 3 years.
Steffen Kammler, City Solar’s President and Chief Executive Officer, said, “With this deal, we can offer our commercial customers SunPower’s high-efficiency solar panels and patented rooftop and ground mounted tracking systems, which can significantly increase their energy … Read the rest