According to JLM Pacific Epoch, Suntech Power’s (STP) Japan subsidiary, Suntech Japan, announced that the consumer electronics chain Yamada Denki plans to increase its sales network for Suntech products from 50 to around 450 stores… Read the rest
Tag Archives: suntech power
Cramer Likes Suntech (STP) & Yingli Green Energy (YGE) On A Pull Back
With all the news of China’s government ramping up support for renewable energy, Jim Cramer now likes the China solar plays, particularly Suntech (STP) and Yingli Green Energy (YGE). When I first saw the call, I couldn’t help but think “here we go again, Cramer’s late to the party and recommending solars after a massive run”. However, he did express concern over pricing, inventory and oil prices which he said could weigh on the … Read the rest
Suntech Power (STP) & CECIC In 5YR Partnership
Suntech is out with yet another press release highlighting another partnership, but it’s important to realize this is part of the overall 1.8GW announced a few weeks ago.. It appears the company issued a generalized statement of partnerships and is now following that up with more specifics. Considering the stock is up 8 straight days and touching new 09 highs today, the campaign is working.
Suntech (STP) and China Energy Consveration Investment Corp (CECIC) announced … Read the rest
Suntech Power (STP) Continues To Expand Its Solar Pipeline With 500MW China Huadian Agreement
Suntech Power (STP) is undoubtedly on a roll with agreements in place for large solar projects. Just one one month ago the company announced agreements with several local Chinese governments to produce 1.8GW of solar power which are contingent upon permits and other red tape. This morning, the company is announcing an agreement with China Huadian to develop 500MW of utility scale and commercial roof top solar projects in the Jiangsu and Shanghai provinces over … Read the rest
Upgrades/Downgrades: STP to Sell, TRN & JASO to Buy; ORA Upgraded to Accumulate
Hat tip to StreetInsider.com for the following upgrade/downgrade notes:
Hapoalim downgrades Suntech Power (STP) to Sell with a $9 price target, citing escalating solar module price war.
The firm said, “Evidenced by Ersol’s recent decision to adjust the mid-point of its CY09 EBIT guidance to “negative” vs. +12% before (due to a “sig. drop in prices of solar modules”), we believe “Tier 1” module vendors are beginning to react to price aggression by Chinese solar … Read the rest
Barclays Cautious On Q2 Solar Earnings; Cuts Price Targets on FSLR, ENER, STP & YGE
Solar stocks were slammed today as oil prices continued to retreat and the cautious comments out of Barclays didn’t help either. Barrons reported this morning that analyst Vishal Shah is cautious on solar heading into Q2 earnings because of the magnitude of the recent rally and the unlikelihood of US & China demand picking up the Germany slack.
He made price cuts as well:
– ENER from $13 to $17 on customer financing
– FSLR … Read the rest
Suntech Power (STP) Obtains Convertible Loan For $50 Million From International Finance Corp
Suntech Power just announced that it has obtained a convertible loan for $50 million from International Finance Corporation. The 7-year loan agreement carries a fixed annual interest rate of 5.0 percent and can be converted into an ADS share for $18 per share.
In a press release, Dr. Zhengrong Shi, Suntech’s Chairman and CEO, commented on the loan:
“We are pleased that IFC, a world class investment institution that supports sustainable development, has agreed … Read the rest
Has Suntech Power (STP) Signed A 500MW Chinese Solar Deal?
I’m throwing this out there and if anyone has additional information to report feel free to post in the comments below. There was a report in the WSJ today that Suntech Power (STP) may soon sign a big 500 MW China deal. Apparently, a report by a local China media outlet was widely circulated that the Qinghai province has signed a 500 MW deal with Suntech.
Suntech spokesman Steve Chadima told Dow Jones Newswires … Read the rest
Suntech Power (STP) Forms Alliance With Petra Solar For Pole Mounted Solar PV Systems
Suntech Power (STP) and New Jersey based Petra Solar have announced a partnership that will focus on marketing utility grade, pole mounted solar AC systems for utility distribution and streetlight poles around the world, particularly in the US. The systems will consist of PV modules and integral line voltage inverters with real time communication and smart grid capabilities.
Dr. Zhengrong Shi, Suntech’s Founder, Chairman and CEO said, "We recognize that Petra Solar is the leader … Read the rest
Suntech Power (STP) Beats On Earnings, Light On Revenues
Suntech Power (STP) is back in the black with improving margins, posting an EPS of .01 share vs analyst estimates of a .06/loss. However, revenues were very light at $315 million, missing estimates of $360 million. It represents the first quarter of negative quarter over quarter revenue growth in company history, so certainly not much reason for optimism on this report outside of the improving margins. The CEO is enthusiastic though, noting that revenues “only” … Read the rest