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
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