Sunpower just announced that it has added an additional 40 MW of capacity to its contract for the development of the California Valley Solar Ranch for PG&E. That means that the completed plant will be 250MW, one of the largest solar PV plants in the world.
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In a press release, Howard Wenger, president of SunPower’s utilities and power plants business group, commented on the news:
“We … Read the rest
I mentioned the Oppenheimer upgrade of Suntech Power (STP) this morning on Green Stocks @Twitter, but the firm has rating and price target updates on other solar stocks as well. Hat tip to Street Insider for the heads up.
Bullish on Yingli Green Energy (YGE) and gets upgrade from Outperform to Perform and $17 price target (about 30% higher). Want more YGE analysis?
Downgrades Canadian Solar (CSIQ) from Outperform to Perform and lowered and … Read the rest
FPL just announced that its new FPL’s Space Coast Next Generation Solar Energy Center has opened at Kennedy Space Center. The 10 MW facility consists of about 35,000 SunPower solar PV panels. SunPower designed and built the installation for FPL and NASA, who worked as partners on the project. Over the life of the panels, the center is expected to reduce carbon dioxide emissions by 227,000 tons.
In a press release, FPL President and … Read the rest
SunPower just announced that it has signed an agreement with Sol.In.Build Srl, a subsidiary of Veronagest SpA, to build 7 solar plants in Sicily. No financial details were disclosed, but the 7 plants will provide 16.5 MW of capacity total. Individual plants will vary in size from one to 3.5 MW. All plants are expected to be up and running by September of this year.
The plants will use SunPower panels as well as SunPower … Read the rest
Sunpower just announced that it has completed its acquisition of SunRay Renewable Energy, a solar power plant developer based in Europe with offices in the Middle East. The acquisition over 1,200 megawatts of solar photovoltaic (PV) projects to SunPower’s project pipeline. The projects are all in different stages of development and are located in Italy, France, Israel, Spain, the United Kingdom and Greece.
In a press release, Howard Wenger, president of SunPower’s utilities and … Read the rest
Several Analyst rating notes this morning. Hat tip to Street Insider for the analyst commentary.
Soleil Securities maintains Hold on SunPower (SPWRA) and has price target of $21. “Cutting 2010 estimate from $1.50 to $1.30 per share (consensus is $1.45 per share). Introducing below consensus estimate for 2011 ($1.65 per share vs. $2.07 consensus).”
Merriman Curhan Ford reiterates Buy rating on Power One (PWER). “Our recent meeting with senior management continues to reaffirm … Read the rest
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Analysts are weighing on the Sunpower (SPWRA) earnings results this morning. Hat tip to Street Insider for the following analyst comments:
Piper Jaffray is maintaining a Neutral rating and is raising the price target from $22 to $25.
“SPWR provided in line FY10 revenue guidance but PF EPS guidance was below consensus; additionally 1Q10 guidance was much lower due to backend-loaded systems revenue. The stock will likely … Read the rest
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Sunpower (SPWRA) reported a mixed quarter last night missing analyst estimates of .49/share, posting .47/share on revenues of $548 million which was well ahead of the estimate of $490 million. What’s hitting the stock this morning is the guidance and the restatement of the financials for 2008, 2009 which concludes the company’s investigation. It’s looking like a rough day for Sunpower, but maybe this clears the … Read the rest
SunPower just announced that it has been awarded a contract to provide SunPower T5 Solar Roof Tiles to generate up to 200 megawatts of solar energy. With this contract, SunPower will provide 80 percent of the energy needed for Southern California Edison’s solar PV installation program, in which the company plans to install, own and operate 250 megawatts of solar generating capacity over the next 5 years.
In a press release, Howard Wenger, president of … Read the rest
SunPower just announced that it will work in partnership with K6 S.a.S to build 2 1-megawatt PV solar plants in Puglia, Italy. The solar plants are expected to be up and running by August 2010. Sunpower will install its solar panels as well as its SunPower® T20 Tracker, which follows the sun to increase energy production by 30% energy.
In a press release, Luca Bandini, general manager of SunPower Italia, commented on the agreement:… Read the rest