SunPower just announced that it has signed a supply agreement with Toshiba Corporation for 32 MW wort of high-efficiency solar panels. Under the agreement, SunPower will supply the solar panels to Toshiba this year, and Toshiba will use them to offer residential solar power in Japan.
In a press release, SunPower CEO Tom Werner commented on the agreement:
“We welcome the opportunity to partner with Toshiba, a preeminent business leader in Japan and throughout … Read the rest
PlanetSolar just revealed the world’s largest solar-powered boat to the world at the HDW shipyard. The catamaran is powered by 38,000 next-generation solar cells from SunPower. PlanetSolar will start testing the boat in March, and next year it will go on a world tour.
In a press release, SunPower Senior Director Jorn Jurgens commented on the news:
“We are proud to support the unveiling of the world’s largest solar boat, powered by SunPower’s high-efficiency … Read the rest
SunPower just announced that it has signed an agreement to acquire SunRay Renewable Energy from its shareholders. SunRay is a leading European solar power plant developer with a project pipeline of more than 1,200 megawatts (MW) in different stages of development.
In a press release, Howard Wenger, president of SunPower’s utilities and power plants business group, commented on the purchase:
“SunRay has a proven track record of developing bankable solar power plants in a complex … Read the rest
Key Equipment Finance just announced that it will be partnering with SunPower (SPWRA) to provide financing for up to $50 million worth of SunPower commercial-scale solar systems. The program will allow qualified commercial customer to secure capital leases and loans and government entities to secure municipal leases to finance the construction of SunPower solar systems from 50 KW to 1 MW in size.
The programs will make it easier for customers to apply for credit … Read the rest
According to StreetInsider.com, Jefferies is out with several solar upgrades following the two week plunge.
SunPower (SPWRA) upgraded from Hold to Buy, but price target lowered from $30 to $29. Shares are up 2.5% to $21.75 this morning. Shares are up about 3% in premarket trading.
Suntech (STP) upgraded from Underperform to Hold with a $12 target. Shares are basically flat in premarket trading.
Solarfun (SOLF) upgraded from Underperform to Hold with a $7 … Read the rest
Sunpower just announced that it has finished installing a 500KW solar power system for Harvard University. The system, which has been installed on top of the Arsenal on the Charles complex, was built with SunPower T5 Solar Roof Tile and should generate enough energy to power 83 homes, offsetting 367 metric tons of CO2 annually.
In a press release, Tom Leyden, managing director at SunPower, commented on the news:
“It is clear to us … Read the rest
A few solar upgrades to report this morning…
Suntech Power (STP) was raised to Neutral from Underperform by Macquarie. Shares are up about 3% on the upgrade. Click Here For Your FREE Suntech Analysis
Sunpower (SPWRA) was upgraded by Europe’s SocGen from Hold to Buy and raised the price target from $29 to $31.moving this morning as we have an analyst upgrade over at Europe’s SocGen. The firm raised its investment rating on SunPower shares … Read the rest
SunPower just dedicated a new 50-kilowatt rooftop solar power system at HP’s Indigo Division Facility, located in Kiryat-Gat, Israel. The rooftop system was designed and built by Solarpower Ltd, using SunPower panels.
In a press release Howard Wenger, SunPower’s president of global business units, commented on the news:
SolarPower’s leadership in Israel was clearly an advantage to SunPower as we entered the market. On four continents, the proven performance of SunPower’s technology has achieved a … Read the rest
A few analyst rating changes and coverage initiations this morning…
Barclays upgraded Suntech (STP), JA Solar (JASO) and Sunpower (SPWRA) to Overweight. All three are up about 8% today with STP and JASO breaking out of bases on the upgrade.
Wedbush Morgan isn’t quite as positive on Sunpower, lowering the price target from $29 to $21, but maintains its Neutral rating. Hat tip to StreetInsider.com for the following analyst comment:
“We believe investors do not … Read the rest
Pacific Crest is out upgrading SunPower (SPWRA) this morning to Outperform and raised the price target to $29, saying the recent accounting debacle has created a unique buying opportunity.
Hat tip to StreetInsider.com for the following analyst comment:
“There is considerable risk inherent in our call because the results of the accounting investigation have not been announced. However, we believe the current stock price assumes a lower margin profile on future revenue, and thus the … Read the rest