With all the concerns being voiced about the possible impact of the credit crisis on the solar power market, it’s nice to have some good news to report. The stock market as a whole rallied a little bit yesterday, but according to Eric Savitz of Barron’s Tech Trader Daily, solar stocks in particular were "dramatically outperforming" the market as a whole. Many of the major solar players saw their share prices rise with double-digit … Read the rest
Tag Archives: stp
Analysts Continue Negative Outlook On Solar Energy Sector
Despite the solar stocks being pummeled into oblivion for the entire year and accelerating those losses in the past few weeks, analysts continue with the negative outlooks and sell ratings. Let’s keep in mind though that analysts are almost always late to the party and that may be the case in this situation as well. With solar stocks being the biggest beneficiary of the extension of tax credits in the recent bailout bill and the … Read the rest
Suntech (STP) Hit With Sell Rating
It was a crazy week last week for me so I need to catch up a bit in the world of green stocks! On Thursday of last week, Suntech Power (STP) was hit with a sell rating and price target of $16 by Hapoalim Securities (who?) saying they are impressed by the cost structure of the company but believes their 35 – 45%% exposure to Spain and nearly 85% exposure to Europe will hurt them … Read the rest
Soleil Slaps Buy Ratings On Suntech Power (STP) & LDK Solar (LDK)
Soleil Securities has initiated coverage on both Suntech Power (STP) and LDK Solar (LDK) with Buy ratings on both. According to StreetInsider.com, Soleil had this to say on Suntech:
“The prospect of strong earnings growth through ’09 is offset by our expectation of a sharp decline in photovoltaic industry pricing in 2011 which will lead to an equally sharp decline in earnings in 2012.” Their price target is 41.
On LDK Solar:
“While we … Read the rest
Suntech Power (STP) Has Plans To Triple US Business in 09
Suntech Power (STP), the large China solar company has plans to triple its US business in 2009 in a joint venture with MMA Renewable Ventures forming Gemini Solar Development LLC and plans to target projects greater than 10MW. Suntech has also acquired EI Solutions, a Cali commercial system integration company that will target government, utilities and large commercials customers AND has expanded its US dealer network to increase penetration into residential and smaller commercial projects. … Read the rest
Suntech (STP) Will Power Largest Building Mounted PV Project in Arizona
Suntech (STP) has announced that it will provide 1.6 MW of solar panels to Sun Devil Solar LLC, a subsidiary of Integrys Energy Services for its project with Arizona State University. ASU will install the modules on top of two parking structures in the middle of campus and is to be completed by the end of this year. It’s expected to produce enough electricity to power 3680 computers each year (the equivalent of 260 … Read the rest
Suntech (STP) To Supply Solar Panels To Power The North Face’s West Coast Distribution Center
Suntech Power Holdings Co announced today that it has been selected to provide solar panels for a 1 MW solar power system that will supply the North Face’s West Coast distribution center in Visalia, California with electricity. EI Solutions will handle the installation itself, using RayTracker(TM) GC single-axis solar trackers.
According to the EPA, this will reduce North Face’s carbon emissions by 1,300 metric tons each year, the equivalent of taking 250 cars off the … Read the rest
Suntech (STP) In 2nd Supply Deal With DC Chemical
Suntech Power (STP) has signed a 2nd polysilicon supply agreement with South Korea based DC Chemical with a total value of about 750 million from 2010 to 2016. Back in March the two companies inked another supply deal worth around 630 million.
Dr. Zhengrong Shi, Suntech’s Chairman and Chief Executive Officer, stated, ”We are pleased to expand our existing relationship with DC Chemical, a key upstream partner and an emerging market leader. Contracts such as … Read the rest
Solar Energy Gets A Shout-Out From Cowen and Co. Analyst
… Read the restMSN Money reports that on Thursday, Robert W. Stone, an analyst from Cowen and Co, released a report providing an upbeat analysis for solar energy stocks. Assuming a investment tax credit in the US for solar power, as well increased participation from utilities and the states, demand for solar should climb from 6 gigawatts in 2008 to 14 gigawatts in 2010. He also expects use of solar power to grow in Italy and France, and
Suntech Power (STP) Signs Wafer Supply Agreement With GCL Silicon
Suntech Power (STP) has entered into a silicon wafer supply agreement with GCL Silicon to purchase 9420 metric tons of polysilicon and 1.1 gigawatts of silicon wafers from GCL between 2008 and 2012. Suntech has now secured about 1 GW of silicon for next year. Tight supplies have hampered the industry but its expected to ease a bit by the end of year.
“These agreements with GCL Silicon will greatly strengthen our silicon pipeline and … Read the rest