The time and place for Suntech Power’s (STP) first US solar panel manufacturing plant are now official. The company announced today from the AZ4Solar Symposium that the plant will open up in Goodyear, Arizona around September of this year with an initial capacity of 30MW, but expandable to 120MW to meet growing demand if necessary. The plant will employ more than 70 local residents and showcase the company’s latest and greatest solar manufacturing technology. Arizona … Read the rest
Tag Archives: suntech power
Solar Upgrades: SPWRA, STP, AMAT
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
Suntech Power (STP) Signs 3 Solar Supply Deals Totaling 490MW
Suntech Power (STP) is announcing this morning it has secured solar supply agreements with three existing customers for up to 490MW to be delivered over the next three years. The European customers include a reseller, and EPC company and a project developer.. no word on who those customers are but with a little digging we could probably find out. No word on the financials either, but this is a substantial win for Suntech and the … Read the rest
Suntech (STP) Enters Ontario Residential Solar Market With Pure Energies MOU
It’s not a done deal at this point, just a memorandum of understanding which can be broken, but Suntech (STP) and Pure Energies of Canada have agreed on a supply deal which will have STP supplying up to 17MW in solar panels next year. The MOU also provides a possible supply deal for 2011 as well.
Pure Energies servers Ontario’s rapidly growing residential solar market which has been supported by the local government.
Said Suntech … Read the rest
Suntech (STP) & American Superconductor (AMSC) Get Upgrades
The good news keeps rolling in for American Superconductor (AMSC) with a couple new orders and upgrades in the last week or so, but the stock doesn’t seem to want to move much on the news. Perhaps today it can get going on an upgrade from Needham from Hold to Buy. The firm has a $40 price target on it.
Also getting an upgrade this morning is Suntech Power (STP) which was upgraded from Sell … Read the rest
Suntech Power (STP) Expects To Develop 20% (18MW) Of Rooftop Solar Projects
Back in March, China’s Ministry of Finance launched a Solar Rooftop Program to increase energy efficiency and decrease cost. Soon thereafter, more than 100 applications were submitted and so far 91MW of solar projects have been approved to move forward. Suntech Power (STP) says it expects to develop about 20% of these projects. They have already developed 4MW and expects to develop the rest by the middle of next year
“Solar is an ideal … Read the rest
Green Stocks Upgrade/Downgrades Roundup: CREE, SPWRA, YGE, FSLR, STP
There were a few upgrades and downgrades of green stocks today, particularly in the solar space that I wanted to run through tonight.
Macquarie made a few calls in the solar space worth mentioning:
Yingli Green Energy (YGE) was upgraded from Neutral to Outperform. Shares finished up more than 5% and bounced off the 50 day moving average.
Sunpower (SPWRA) was upgraded from Underperform to Neutral. Shares finished up nearly 7% today and are nearing … Read the rest
Hapoalim Securities: Gloomy Days Ahead For Most Solar Stocks (FSLR, WFR, STP, SPWRA)
In a Barron’s interview this weekend, Hapoalim Securities solar analyst Gordon Johnson reiterated his bearish call on the sector due to oversupply and soft demand. He sees a supply vs demand ratio of 7.1GW:4.4GW for this year and 10.8GW:6GW for next year, so sees it getting worse, not better. When asked about the recent run in solar stocks, he attributed it to the excitement over China’s feed in tariff program and said the excitement is … Read the rest
Suntech (STP): China Preparing Launch Of Feed In Tariffs For Utility Scale Solar Plants
In comments made following earnings late last week, Suntech CEO Zhengrong Shi indicated that the Chinese government may soon roll out its largest solar subsidy program yet, which would send the China solars on another flight higher. He predicts that a feed in tariff program for utility scale solar plants would provide .16 – .22 kWh and be in place by the end of this year, requiring utilities to buy solar power at a … Read the rest
Suntech Power (STP) Reports Mixed Results, Guides 09 Shipments To Low End Of Range
Suntech (STP) is out with earnings this morning and it’s not bad, not great. You kind of expected this company to emerge from the pack a bit and post a much better quarter, but it didn’t happen. The company reported another plunge in earnings and revenues when compared to the year ago quarter, but saw a bit of sequential growth so inline with what other solar companies are reporting.
STP reported .06/share which is better … Read the rest