A hat tip to StreetInsider.com for these notes from Friedman Billings & Ramsey regarding China’s solar policy. As you probably know the solars took off in a big yesterday, particularly the big China plays such as Suntech (STP) and Trina Solar (TSL). They ran on a report that China would be supportive of local solar development and offer subsidies but details have been fuzzy.
After some extensive checks with their contacts in China, FBR is … Read the rest
Can you say short squeeze! Wow, what a move in the China solars today. Looking at the board to my left, both TSL and STP are up over 50% and some of the other China solars are up anywhere from 20 – 40%. It’s hard to believe that an article speculating that the China government will be supportive of local solar development would cause a move of this magnitude but when you consider the amount … Read the rest
Trina Solar has completed what is currently the largest rooftop solar array in the United States. The 2.4 Mw installation consists of 13,400 of Trina Solar’s solar modules installed on top of the Atlantic City Convention Center. It will meet about one quarter of the building’s energy needs and save about $4.4 million in energy costs over the next 20 years.
Jifan Gao, Trina Solar’s Chairman and Chief Executive Officer, commented on the occasion in … Read the rest
Trina Solar (TSL) reported results this morning with an EPS loss a bit lighter than expected at .03/share vs the estimate of a .04 loss. Revenues were a bit better than expected as well at $216 million vs the analyst estimate of $201 million and exceeding the company’s previous guidance of $190 – $210.
“Despite the challenging global economic and financial climate, we are pleased with our strong performance in the fourth quarter,” said Mr. … Read the rest
Trina Solar announced today that its 4th quarter revenues should exceed the company’s forecasts of $190 million to $210 million. The company will also reduce its short-term debt to $249 million, a decrease of $41 million dollars.
So, that’s the good news. The bad news is that the company expects weak margins for the 4th quarter. Reuters has the details:
… Read the restTrina said in a statement it would take a charge of between $16 million to
Are the tides turning for the solar industry? After months of doom and gloom forecasts, downgrades and price target cuts some upgrades and positive notes are beginning to slowly trickle in from analysts. Ah oh, time to sell!
Barron’s reported today that Merrill Lynch came out with a report today saying that improving second derivative trends suggest the industry is headed for a cyclical bottom. They went on to say that while demand won’t recover … Read the rest
Trina Solar just announced a new sales agreement with GA Solar. Under the terms of the one-year contract, Trina Solar will provide 20 to 36 MW of PV modules to GA Solar throughout 2009. The modules will be sold at the prices specified in the agreement.
Mr. Arturo Herrero, Trina Solar’s Sales and Marketing VP, commented on the deal:
… Read the rest"We are excited to have entered into this sales agreement which affirms our successful long-term supply
Trina Solar issued a statement describing the companies operational highlights for the 4th quarter of 2008. The company managed to meet its solar module shipment target, shipping between 55 and 60 MW. Also, it was able to reduce the non-silicon-related costs of manufacturing its solar modules by approximately .13 per watt.
Here’s what Trina Solar’s Chairman and CEO, Mr. Jifan Gao, had to say about his company’s 4th quarter operational highlights:
… Read the rest"Despite lower module selling
Trina Solar is launching a new brand of Upgraded Metallurgical Grade ("UMG") silicon-based solar modules and products. The brand will be called MeSolar, and is an attempt to address consumer demand for solar products that offer both reliability and cost savings.
Arturo Herrero, Trina Solar’s Vice President of Sales & Marketing, explained the new brand strategy:
… Read the restThe product line is part of Trina Solar’s strategy to expand its product portfolio in order to address customers’
Trina Solar (TSL) is down nearly 10% in premarket trading after beating estimates for both EPS and revenues for the quarter but guiding below for Q4 and full year 08. The company reported an EPS of 1.17, good for a 318% increase over the year ago quarter and topping estimates by .07 on revenues of 290.7 million (beating estimates by about a million).
However, it’s always about guidance and it wasn’t good. The company cut … Read the rest