Canaccord Genuity is out with a few ratings changes in the solar space.
The firm has upgraded JA Solar (JASO) from Hold to Buy and raised the price target nearly 50% to $11. Shares are falling another 3% today despite the upgrade indicating the stock is a bit tired following a torrid run.
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Both Suntech (STP) and Sunpower (SPWRA) were downgraded from Hold to … Read the rest
According to Reuters, demand for solar panels has risen so sharply that industry leader First Solar is unable to keep up. Although First Solar’s business slowed down in the 3rd quarter, it is expected to pick up in the fourth, despite German solar subsidy cuts that are expected to hit July 1.
Reuters quotes First Solar’s Stephan Hansen saying “In 2010 we will not be able to produce enough modules to meet demand.”
Suntech … Read the rest
The Victoria-Suntech Advanced Solar Facility (VSAF), a joint project from Suntech and Melbourne, Australia’s Swinburne University of Technology, launched yesterday in Melbourne.
The VSAF will enable Suntech and Swinburne to collaborate and find a way to commercialize Swinburne’s new NANOPLAS technology.
According to Professor Min Gu, who is the Director of the Swinburne Centre for Micro-Photonics and will head the VSAF in conjunction with Suntech Chairman and CEO Dr. Zhengrong Shi, the NANOPLAS technology makes … Read the rest
Suntech just announced that its solar panels have been certified to meet the requirements of the UK Microgeneration Certification Scheme. MCS Certification means that Suntech’s panels meet or exceed all applicable safety and performance standards and can be sold in the UK.
In a press release, Jerry Stokes, Suntech’s Vice President of Strategy and Business Development in Europe, commented on the news:
“We see the UK as a strategically important market and had no … Read the rest
Solar stocks have truly arrived. Another one of the big boys has initiated coverage. Wells Fargo has initiated coverage on a few China stocks – Trina Solar (TSL), ReneSola (SOL) and Suntech Power (STP). Hat tip to Street Insider for the analyst commentary.
ReneSola (SOL) gets an Outperform rating and a valuation range of $9.50 – $12. “Wafer pricing is trending higher, margins are improving, and the new OEM business can provide protection if the … Read the rest
Suntech just announced that it has supplied the Town Hall building in Sydney, Australia, with a 48kW rooftop installation. The installation consists of 240 of Suntech’s advanced solar panels featuring Suntech’s new Pluto technology, which improves conversion efficiencies by 12%.
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In a press release, Dr. Zhengrong Shi, Chairman and CEO of Suntech, commented on the new technology:
“Advanced solar technology is central to powering a future where … Read the rest
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Suntech just announced that it has completed installing a 1 MW solar system for Harrah’s Rincon Casino in Southern California. The system will supply enough solar energy to meet approximately 1/4 of the casino’s needs, powering 90% of its HVAC system.
In a press release, Steven Chan, Chief Strategy Officer of Suntech, commented on the news:
“Led by the Rincon Band of Luiseno Indians in partnership with … Read the rest
Suntech just announced that its solar panels have been selected to power what will be the biggest solar power plant in Taiwan. The new plant , which will be owned and operated by Taiwan Power Company, will be installed in Young’an,
Kaohsiung, Taiwan. Liao Wen Sing, Vice President of Fortune Electric Co, which is developing the project, says that Suntech panels were selected on the basis of superior performance and reliability.
Suntech will begin delivery … Read the rest
Suntech announced that their solar panels are being used to power a net-zero showcase home for the Vancouver Winter Olympics. The house, which is currently being used to house Olympic athletes, produces as much energy as it consumes each year, thanks in part to 6 KW of power generated by Suntech’s Just Roof (TM) solar roofing system.
The house, designed by RDC Homes, is so efficient that on an annual basis it may even produce … Read the rest
In what is Lebanon’s largest social initiative to date, Suntech has supplied its local partner Asaco General Trade & Contracting with solar panels that will supply power to 19 remote Lebanese schools. The schools were previously depended on the power grid, but because they were located in such remote areas, they suffered through frequent blackouts that made it difficult for the students to learn. To help, Asaco created customized systems for each school using Suntech … Read the rest