Suntech Power (STP) has been donating solar power on a small scale to schools, community centers and even a base at the bottom of Mt Everest in Tibet for many years. Yesterday they announced a larger scale 10MW solar project in
Chek Kang village more than 13000 ft above seal level which will provide 20,000MWh of clean energy per year. The solar power will ease pressure on diminishing hydroelectric resources which become less dependable due … Read the rest
Tag Archives: suntech power
Suntech Power (STP) Is Supplier For 150MW Sempra Energy Plant
Suntech Power (STP) signed a deal with Sempra Energy worth a few hundred million to supply 150MW in solar panels for Sempra’s Mesquite 1 solar project in Arizona. Sempra had used First Solar’s thin film panels in the past so this is a big win for Suntech’s technology. The company recently opened a plant in Arizona to manufacture solar panels, but they indicated that most of the panels will come from China. Last year Suntech … Read the rest
Suntech Power (STP) Up Again On Upped Guidance, Increasing Capacity
Shares of Suntech (STP) are continuing to build on last week’s strength after the company increased guidance for this year and next. They now expect 2010 revenue of $2.78 – $2.83 billion which is ahead of the Street estimate of $2.7 billion. For 2011, Suntech expects to ship at least 2.2GW of solar products and generate revenues of $3.4 billion to $3.6 billion. The Street was estimating $3 billion. EPS is estimated to be $1.40 … Read the rest
Suntech (STP) Adding 375MW In Capacity With Glory Silicon Acquisition
This morning I posted the concerns out of Credit Suisse and Axiom Capital that solar companies are adding too much capacity when demand is expected to soften. I think part of the reason Suntech Power (STP) is under pressure this morning is the announcement they are adding 375MW in capacity with the full acquisition of Glory Silicon Technology, of which it current has an investment in.
==> Click Here For Your FREE Daily Suntech Technical … Read the rest
Suntech Power (STP) Reports Mixed Results, Testing Yearly Low
Suntech Power (STP) continues to get punished and is testing the yearly lows today after reporting earnings that were shy of analyst estimates on the EPS side. The company reported an EPS of .18/share vs the analyst estimate for .23 on revenues of $744 million vs the analyst estimate of $713 million. Gross margin slipped sequentially from 18.2% to 16.4% due to a decrease in ASP.
===> Click Here For Your FREE Suntech Power Technical … Read the rest
Suntech (STP) Opens 1st US Solar Production Plant
Suntech Power (STP) first announced it was opening a US solar manufacturing plant back in January and now it’s official. The company announced on Friday that it has begun production at its new plant in Goodyear, Arizona with an initial capacity of 30MW with a plan to expand to 50MW next year and to 120MW within a few years.
==> Click Here For Your FREE Daily Suntech Power Technical Analysis
"Our new U.S. manufacturing … Read the rest
Collins Stewart Upgrades JKS, STP; UBS Upgrades LDK
The good news continues to flow from the solar space and this morning is no exception. We had the raised guidance from LDK, CSIQ reiterating its guidance and ASTI announcing an important thin film certification.
Adding fuel to the fire are upgrades out of Collins Stewart and UBS. UBS upgraded LDK Solar (LDK) following its guidance raise from Neutral to Buy and now has a $12 price target on the stock.
==> Click … Read the rest
Auriga Discusses California’s Proposed Renewable Auction Mechanism (RAM) – FSLR, YGE, TSL, WFR, STP, SPWRA
In recent days, California has proposed legislation that would help kick start smaller scale solar projects (1 – 20MW) using a feed-in-tariff system, but the rates would be set by an open bidding process which would help curb excessive rates for consumers while generating fair returns for the developer. The Renewable Auction Mechanism (RAM) as it’s called is just a proposal at this point, but a final ruling could come within 30 days. It’s likely … Read the rest
Auriga Maintains Hold On Suntech (STP), Lowers PT, Finds Little Reason To Invest
Auriga is out this morning maintaining its Hold rating on Suntech Power (STP), but lowered the price target to $9. Hat tip to Street Insider for the analyst comment.
“We find little reason to invest in shares of Suntech. While the company touts itself as the largest solar module manufacturer, we find a lack of earnings power despite the increased scale of operations. Gross margins are in the mid-teens and operating margins are in single-digits, … Read the rest
Suntech Power (STP) Reports In-Line Results, Guides Higher
Suntech Power (STP) reported a Q2 non GAAP EPS of $0.03 (taking out provisions and restructuring charges related to thin film and Shunda, which is below the analyst estimate of $0.10 (correction – that is inline with analyst estimate of .03). Revenue for the quarter was $625.1 million, which compares to the estimate of $595.39 million. While the EPS number was 50% lower than the year ago quarter, revenues nearly doubled over … Read the rest