Hanwha SolarOne (formerly Solarfun) (SOLF) has signed a 54MW solar supply deal with MEMC Electronics (MEMC) to supply its SunEdison subsidiary for this year for use in utility scale power plants. An optional additional 30MW is available as well.
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Dr. Peter Xie, President of Hanwha SolarOne, commented, "We are pleased that MEMC has again selected us as a supplier of PV modules for SunEdison projects. … Read the rest
Everybody wants to get in their predictions for the year and Barclays Capital is providing its thoughts on the solar industry as well according to Barrons. Analyst Vishal Shah notes that the fundamentals were much better than expected last year, but could come under pressure particularly in the second half of the year. He mentions that in order for the solar market to thrive again, US and China demand will need to pick up … Read the rest
Earlier today I posted a summary of Auriga’s bullish outlook on solar stocks for 2011. According to Barrons, Credit Suisse has also posted their outlook for solar stocks this year, but is less bullish. They have a cautious view in the near term and a Market Weight rating on the sector.
Auriga commented on the elasticity of the solar market where demand picks up as prices fall. Credit Suisse notes that this has traditionally … Read the rest
SunEdison, a subsidiary of MEMC Electronic Materials (WFR), and Arizona Public Service have announced plans to build a 10MW utility scale solar plant located near the Prescott Regional Airport. SunEdison will own and operate the plant while APS will be purchasing the output which would meet the electricity needs of 2500 residents in the area. This project adds to the previously announced 20MW and 17MW plants the companies will partner on in the area. However, … Read the rest
SunEdison, a subsidiary of MEMC Electronic Materials (WFR), and Xcel Energy (XEL) have broken ground on 54MW in solar projects in New Mexico. The project will cover five separate sites in two counties and are expected to be completed by the end of next year. SunEdison will build, finance and maintain the projects while Xcel Energy will ultimately purchase the electricity under a 20 year power services agreement. The projects help the state reach its … Read the rest
MEMC Electronic Materials (WFR) announced it will partner with Flextronics (FLEX) to produce solar panels at a Flextronics facility in Ontario beginning in a few months. The panels will be used my MEMC subsidiary SunEdison for projects in Ontario and the arrangement allows the company to capitalize on Ontario’s feed in tariff program which requires 60% of the materials to be produced locally. The production is expected to create around 100 jobs.
==> Click Here … Read the rest
MEMC Electronic Materials just announced that the patent lawsuit brought against the company by Soitec has been concluded. The rulings were mostly in MEMC’s favor, as Soitec was found to be infringing on MEMC’s ‘812 patent. MEMC was found to be infringing on Soitec’s ‘009 patent, but only in relation to wafers produced for research and development in between 2004-2006.
In a press release, Shaker Sadasivam, EVP of MEMC and President of MEMC Semiconductor … Read the rest
Every quarter for about the past year or more, traders have high expectations and each quarter, MEMC Electronic Materials (WFR) disappoints. They’ve done it again after the bell today. While the company did post non GAAP revenues a bit higher than analyst expectations at $551 million, they missed the EPS consensus estimate of .13/share by posting .10/share.
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“Our third quarter results extended our recent … Read the rest
MEMC Electronic Materials (WFR) subsidiary SunEdison will deploy utility scale solar plants in Texas through a contract with CPS Energy and combined it’s expected to be one of the largest solar facilities in the state. SunEdison will build, own and operate three solar plants totaling 30MW which will help CPS Energy achieve its renewable energy target of 20%. Construction will begin next year. No word on the financials of the deal.
Jim Cramer did a piece on solar stocks last night and said he still doesn’t like China solar stocks (many of which are up at least 50% in the past few months) and that the way to play it is with a beaten down US solar company – MEMC Electronic Materials (WFR). From an industry standpoint, he highlights the fact that oil prices are inching closer to $100 once again and the increase in construction … Read the rest