Are the tides turning for the solar industry? After months of doom and gloom forecasts, downgrades and price target cuts some upgrades and positive notes are beginning to slowly trickle in from analysts. Ah oh, time to sell!
Barron’s reported today that Merrill Lynch came out with a report today saying that improving second derivative trends suggest the industry is headed for a cyclical bottom. They went on to say that while demand won’t recover … Read the rest
TradingMarkets.com is reporting that a group of Chinese solar power companies has presented a plan to the Chinese Ministry of Science to try to drop the cost of producing solar power to 1 yuan/KWH within two years. Particpants in the plan include Solar Power Technologies, Trina Solar, Canadian Solar Inc, LDK Solar and Solarfun Power Holdings Co.
According to TradingMarkets.com,
… Read the restAn industry insider said it’s feasible to carry out the plan, which combines companies
Suntech Power Holdings Co., Ltd has signed a 1 year, 5 MW supply deal with Standard Solar, Inc. Under the agreement, Suntech will supply 5 MW of solar panels to Standard Solar this year. The companies have not disclosed the amount of money involved, nor what product Standard Solar will use these solar panels for.
Scott Wiater, Standard Solar’s VP of Procurement, commented on the deal:
… Read the rest"Partnering with Suntech, a top-tier manufacturer offering a broad
Suntech Power (STP) is out this morning releasing preliminary financial results for the 4th quarter in which it expects revenues to exceed previous guidance of 345 – 360 million and come in at 405- 420 million.
As of December 31, 2008, Suntech’s cash and cash equivalents balance was approximately $508 million, which is approximately $113 million higher than the cash and cash equivalents balance at the end of the third quarter of 2008. Cash and … Read the rest
Suntech Power Holdings Co., Ltd is joining First Solar to help construct a solar power plant for the Middle East’s first sustainable city, Masdar City. The city, which is under construction in the United Arab Emirates, will be carbon neutral and generate no waste. The total size of the farm will be 10 MW, with Suntech and First Solar each contributing 5 MW.
Dr. Zhengrong Shi, Suntech’s chairman and CEO, commented on the project:
… Read the rest“Masdar
I’m back from vacationing in Troncones, Mexico and looking forward to bringing you the latest in alternative and renewable energy stocks in the coming year! Thanks for all the comments from visitors in the 6 months since this site was launched. . my goal is to continue to push forward and make GreenStocksCentral.com the #1 source for breaking news and tracking of green stocks with an increasing number of analysis coming in 2009.
With that … Read the rest
Suntech’s pre-global financial crisis plans included hiring 2000 more employees and expanding its capacity to 1.5 GW in 2009. Instead, plans for expansion have been put on hold, and the company has laid off 800 of its employees, 10% of its workforce. According to TradingMarkets.com, the cuts were made on the basis of competency, with the least competent employees being laid off.
TradingMarkets.com also offered some further analysis on Suntech:
… Read the restThe company’s plants are running
Suntech and Open Energy now have an exclusive partnership to license Open Energy’s building integrated solar roof membrane product. Suntech will manufacture, distribute and market the new product, a flat roof membrane that will be called SolarEze. The product is easy to install and durable, able to withstand extreme weather conditions.
According to Leonard May, Suntech’s Managing Director of BIPV Products:
… Read the rest"Open Energy’s product fits well within our line of solar roofing products adding an
Suntech Power Holdings announced that last year it reached its company goal of achieving 1GW capacity for both solar cells and modules. Suntech claims they are the first solar company to reach both of these goals simultaneously. However, in response to the current economic situation, Suntech plans to keep production at 1GW throughout 2009, instead of continuing its expansion as originally planned. Suntech’s Chairman and CEO, Dr. Zhengrong Shi, commented on the achievement:
… Read the rest"We are
Suntech Power announced that it has been selected to provide solar power for the World Expo 2010 in Shanghai. According to the bid, Suntech will "supply, design and install building integrated photovoltaic systems with a total capacity of 3MW on the China and Theme Pavilions." Suntech’s solar power installation should be completed by September of next year, and will be China’s largest BIPV solar power system. … Read the rest