First Solar, Inc Earnings

Labels: Earnings, First Solar Inc, FSLR, Solar Stocks

posted by Ertai at 10:18 AM | 0 comment(s)

First Solar To Buy NextLight Renewable

First Solar Inc. (FSLR) said it will buy NextLight Renewable Power LLC for about $285 million, adding to its project pipeline and bolstering its position in the U.S. utility-scale renewable power market.

NextLight develops utility-scale solar projects in the southwestern U.S. With the purchase, the maker of low-cost photovoltaic modules reels in a 1,100-megawatt project pipeline made up of 570 megawatts under signed purchase agreements with Western utilities and 530 megawatts of additional photovoltaic projects in various stages of development.

"NextLight has assembled a project pipeline that very much complements First Solar's project portfolio," said First Solar Chief Executive Rob Gillette. "We are looking forward to having the highly experienced NextLight team join First Solar."

The deal is expected to be completed in the third quarter.

First Solar lately has been shuffling its assets, in November selling one of its California solar farms to independent power producer NRG Energy Inc. (NRG) and buying a solar project development pipeline from Edison Mission Group in January.

In February, First Solar said its fourth-quarter profit climbed due to better-than-expected revenue growth that more than offset lower margins. First-quarter results are due after the bell Wednesday.

Shares of First Solar closed at $128.36 on Tuesday and were inactive premarket. The stock has fallen 5.2% so far this year.

Labels: Aquisitions, First Solar Inc, FSLR, Solar Stocks

posted by Ertai at 9:46 AM | 0 comment(s)

First Solar Releases its Quarterly Earnings on April 28

Labels: Earnings, FSLR, solar charts, Solar Stocks, solarstocks

posted by Ertai at 11:02 AM | 0 comment(s)

SunPower Corporation (SPWRA): Earnings Preview

SunPower Corporation (SPWRA : 18.16, 0.28) is scheduled to report first quarter 2010 results on Thursday, April 22.

SunPower Corporation is a vertically integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies. The company operates through two business segments: components segment and systems segment. The Systems Segment represents sales directly to system owners and developers and includes engineering, procurement, construction (EPC) and other services relating to solar electric power systems that integrate the company's solar panels and balance of systems components, as well as materials sourced from other manufacturers. The Components Segment primarily represents sales of the Company's solar panels and inverters to solar systems installers and other resellers, including the company's third-party global dealer network. On April 14, 2009, the Company completed the acquisition of Tilt Solar. In March 2010, the Company acquired SunRay Renewable Energy.

Dec-Q operating EPS of $0.32 vs. $0.27 is $0.07 below my estimate. Sales rose 18% from Oct-Q, reflecting higher shipments in all geographies. Gross margins, below my view, narrowed due to foreign exchange. As expenses rose, the operating margin contracted. Separately, the internal audit committee concluded that '08-'09 income was overstated by about $17 million. I still see pricing pressure from Asia-based competitors with rising conversion efficiencies. While Q4 results confirmed strength of company's components biz, its ability to maintain price premium, guidance suggests back-end-loaded year, higher expenses tied to SunRay purchase. But I feel the company is taking right steps to secure strong pipeline in U.S., Europe, which will become even more important in possible oversupplied environment in H2 '10.

For the 1st qtr 2010, analysts' estimates range from $0.0 to $0.36, with a consensus estimate of $0.09. The consensus EPS forecast has decreased over the past week from -$0.36 to $0.35 and decreased over the past three months from $0.35 to $0.36.

Labels: Earnings, Solar Stocks, Solar Technology, SPWRA, SunPower Corp

posted by Ertai at 10:27 AM | 0 comment(s)

Claymore/MAC Global Solar Index (ETF - TAN)

Labels: Claymore, ETF, Global Solar Index, MAC, solar ETF, Solar Stocks, TAN

posted by Ertai at 8:49 AM | 0 comment(s)

Ningguo City could be first solar-powered city in China

A Chinese tellurium mining company, Apollo Solar Energy, has signed a non-binding letter of intent with the Ningguo Municipal Government to begin a joint venture to design, build and run a 30x50 square kilometre solar city in Anhui Province, China.

The letter presents Apollo with the chance to become a 51% shareholder with the Ningguo City Investment Company, which could lead to proving how cost-efficient the use of solar energy for an entire community could be. Other investors would own 49 percent of the ventures shares between them.

As it stands, if the plans go ahead, Ningguo will be the first city in China to use solar power as its number one source of energy. Apollo's eventual aim, it says, is to make a completely zero-emission city in China. It won't be easy, though: it's believed that the entire project including a 10 GW grid-connected solar power station, will take up to 8 years and costs up to $14 billion.

Labels: China, Solar power, Solar Powered, Solar Technology

posted by Ertai at 3:00 PM | 0 comment(s)

Evergreen Solar says 1Q revenue was $78.5 million

Evergreen Solar Inc. said Monday that its first-quarter revenue was about $78.5 million, higher than analysts expected and 44 percent above its revenue a year earlier.

The company, which makes solar-power products using silicon wafers, did not forecast its profit.

In the same period a year earlier, the company lost $64.3 million, and analysts were expecting it to report an adjusted loss of 9 cents per share, or nearly $19 million, for the quarter that ended April 3.

Evergreen is scheduled to report first-quarter results May 4.

The company said it shipped enough products to generate about 35.4 megawatts of power, or about enough to power 35,000 homes.

The average selling price in the first quarter was about $2.20 per watt, about 4 percent less the previous quarter. Evergreen said its manufacturing costs were $2.05 per watt, flat with the fourth quarter.

Evergreen expects to produce 37 megawatts to 38 megawatts in the second quarter.

Its shares rose 6 cents to $1.18 in regular trading Monday and another 9 cents in extended trading after release of the revenue estimate.

Labels: Earnings, ESLR, Evergreen Solar, Solar power, Solar Stocks

posted by Ertai at 1:33 PM | 0 comment(s)

Energy Conversion Devices is Among the Companies Offering Investors the Best Value in the Electrical Components & Equipment Industry

Below are the top five companies in the Electrical Components & Equipment industry as measured by the price to book ratio. Often companies with the lowest ratio present the greatest value to investors.
Energy Conversion Devices (NASDAQ:ENER) has a price to book ratio of 0.5x based on a current price of $7.23 and a book value per share of $15.05.
DayStar Technologies (NASDAQ:DSTI) has a price to book ratio of 0.5x based on a current price of $0.33 and a book value per share of $0.68.
Evergreen Solar (NASDAQ:ESLR) has a price to book ratio of 0.6x based on a current price of $1.14 and a book value per share of $1.9.
Universal Security Instruments (AMEX:UUU) has a price to book ratio of 0.6x based on a current price of $6.67 and a book value per share of $10.76.
Deswell Industries (NASDAQ:DSWL) has a price to book ratio of 0.7x based on a current price of $5.27 and a book value per share of $7.63.

Labels: DayStar Technologies, DSTI, ENER, Energy Conversion Devices Inc, ESLR, Evergreen Solar

posted by Ertai at 12:05 PM | 0 comment(s)

SunPower Secures $350 Million Facility

SunPower Corp. (NASDAQ: SPWRA | Quote | Chart | News | PowerRating) (NASDAQ: SPWRB | Quote | Chart | News | PowerRating), a Silicon Valley-based provider of solar cells, solar panels, and solar systems, said that it has signed a new three-year letter of credit facility.

The facility, which SunPower said initially provides for a maximum issuance of $350 million in letters of credit but, at the agreement of the parties, may be increased to a maximum of $400 million, will replace the company's existing $250 million letter of credit facility and will be underwritten by a syndicate of banks that include Deutsche Bank (NYSE: DB), Bank of America Merrill Lynch (NYSE: BAC), Citi (NYSE: C), Credit Suisse, and Barclays Capital.

California-based SunPower designs and manufactures solar technology for residential, business, government and utility customers. The firm has offices in North America, Europe, Australia and Asia.

Labels: Solar Stocks, SPWRA, SunPower Corp

posted by Ertai at 2:13 PM | 0 comment(s)

First Solar Bullish Run

One of the biggest benefits I get from writing this blog is that sometimes some very smart people disagree with me. In the investing business you will be wrong often. The earlier you realize that you are wrong the smaller (on average) your losses will be. I don’t think the blog can move markets through talking my book. (I disclosed a good argument for shorting First Solar and the stock went up!) But I do think that kick-back from smart people can help reduce my losses when I am wrong. Believe me that is often enough!

Labels: First Solar Inc, FSLR, Solar Stocks

posted by Ertai at 10:14 AM | 0 comment(s)

Thin Film 2010: Market Outlook to 2015

From only 17 megawatts in 2002 to nearly 1 gigawatt in 2008 (a compounded annualized growth rate of 96%), thin film’s rise over the last decade has been remarkable indeed. The search for alternative technologies to traditional crystalline silicon PV has led to a tidal wave of investment and entrepreneurial activity in thin film, with 170 active companies and over $2 billion in VC investment in the space. However, as of 2010, only two thin film companies have produced in excess of 100 MW annually.

Labels: CIGS, First Solar Inc, FSLR, Solar Energy, Solar Stocks, Solar Technology, Thin film solar cells

posted by Ertai at 2:14 PM | 0 comment(s)

Suntech,Trina Solar sign $11.7 bln loan deals

China's top solar power equipment makers Suntech Power Holdings (STP.N) and Trina Solar (TSL.N) have signed framework agreements with China Development Bank (CDB) [CHDB.UL], giving them access to a combined 80 billion yuan ($11.72 billion) in loans, company officials said.

Suntech, China's largest solar cell and panel maker, signed an agreement with CDB for up to 50 billion yuan ($7.33 billion) worth of loans over five years, Rory Macpherson, Suntech's director for investor relations, told Reuters on Wednesday.

"It's a non-binding agreement," he said. "It's not related to specific projects ... it could be used for capacity expansion. It essentially shows the strong partnership between Suntech and China Development Bank," he said, adding that the agreement was signed in the past two weeks.

Trina Solar forged a 30 billion yuan ($4.40 billion) loan agreement with CDB that will last through 2015, Chief Financial Officer Terry Wang said.

Labels: solar charts, Solar Stocks, STP, Suntech Power, Trina Solar, TSL

posted by Ertai at 8:29 AM | 0 comment(s)

Renewable Energy Helps Fuel Dow Above 11,000

The benchmark Dow Jones Industrial Average closed above 11,000 for the first time since stock markets began their nosedive 18 months ago. And the rebound in investor and trader confidence seems to be taking renewable energy and clean technology stocks with it.

An uptick in the price of a barrel of oil, the coming 40th anniversary Earth Day celebrations and renewed focus on energy and climate legislation in Congress could once again be sparking market enthusiasm, at least for the short term, market watchers are speculating.

But the upturn could prove short-lived as some banks and investment firms remain wary of the sector's long-term performance, warning their clients of shrinking public support for subsidies and an end to government stimulus spending globally.
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Labels: Solar Market, Solar Stocks, Solar Technology

posted by Ertai at 12:58 PM | 0 comment(s)

First Solar Upgrade

Earlier this morning Battle Road Research upgraded shares of First Solar (FSLR) to Buy from Hold and set a $150 price target.

In its note, Battle Road says negative catalysts are in the past and “expectations are too low for 2010.” (First Solar stock is down 9% over the last 12 months, compared with a 49% gain for the Nasdaq.) The stock has been under pressure over concerns about subsidy cuts in Germany, First Solar’s primary market.

Thanks to a process that avoids polysilicon, First Solar continues to have gross margins near 50%. “The company continued to improve its cost per watt and efficiency in the fourth quarter, cementing its cost advantage,” Battle Road says.
Uncertainty related to the European subsidies known as feed-in-tariffs “have been fully absorbed by the stocks.”
Despite concerns, volumes for the first three and half months of 2010 have exceeded expectations. Battle Road notes that industry estimates call for worldwide installations totalling eight to 13 gigawatts in 2010, up from 6.4 gigawatts in 2009.
Shares of First Solar are up 3.8%, or $4.75, today to $128.84.

Labels: First Solar Inc, FSLR, solar analysis, Solar Stocks

posted by Ertai at 12:38 PM | 0 comment(s)

Chinese solar stocks shine

Seven out of the eight U.S. listed Chinese stocks made it to the overbought screen Thursday morning. Gains for the sector look limited from here as LDK Solar (NYSE:LDK), ReneSola Ltd. (NYSE:SOL) and Solarfun Power (NASDAQ:SOLF) have approached theoretical highs. Suntech Power (NYSE:STP), Trina Solar (NYSE:TSL) look better from a technical point of view but again, advance of Canadian Solar (NASDAQ:CSIQ) and China Sunergy (NASDAQ:CSUN) look excessive compared to the rest of the sector.
...
Back to solar stocks: high oil price helps alternative energy plays such as solar, wind and hydro power. Solar stocks look good based on fundamentals as well after hitting a bottom in the middle of 2009. Shipments have dramatically increased while margins have stabilized. JA Solar (NASDAQ:JASO) has just raised 2010 Q1 shipment guidance. Four solar stocks out of the total eight reported revenue and earnings growth for the last quarterer of 2009.

Labels: China, China Sunenergy, CSUN, LDK, ReneSola, SOL, Solar Stocks, STP, Suntech Power

posted by Ertai at 7:52 AM | 0 comment(s)

JA Solar Raises Shipment Guidance

Labels: JA Solar Holdings Co., JASO, solar charts, Solar power, Solar Stocks, Solar Technology

posted by Ertai at 3:35 PM | 0 comment(s)

Solar Pebble could light the way for rural Africans

Labels: solar panels, Solar power, Solar Technology

posted by Ertai at 12:30 PM | 0 comment(s)

United States Renewable Energy Sector Is Falling Behind The Rest Of The World

As China and Europe implement policies to encourage clean energy market growth, US clean energy companies are focusing their efforts overseas - resulting in lost jobs and opportunities in the US. Analysts believe that unless the US government does more to encourage job and market growth in the clean energy sector, that the country will fall behind China and Europe in achieving a global leadership position in this growing market sector. See the following article from Money Morning for more on this.

If the United States doesn't take drastic measures to engineer new clean energy policies and investment initiatives, it will continue to take a back seat to China and Europe, which are driving the clean energy market toward a profitable future.

Both clean energy companies and a skilled workforce are heading overseas, where government policies are creating a more welcoming and promising market for clean energy products.

Take Massachusetts-based Evergreen Solar, Inc (Nasdaq: ESLR). In 2008, it used $58 million in government aid to open a new Massachusetts factory to build silicon wafers and cells and assemble solar panels. But in November 2009, it announced the assembly of solar panels would be moved to Wuhan, China, where solar panel manufacturing will cost far less than in the United States.

Labels: ESLR, Evergreen Solar, Solar Energy, Solar Stocks, Solar Technology

posted by Ertai at 10:59 AM | 0 comment(s)

Solar-powered boat

Considering its 85 tonnes and its potential to shape the future of maritime travel, the launch of Türanor was a surprisingly reserved affair. The world's largest solar-powered boat made a gentle plop as it was lowered by a huge crane on to the waters of the Kiel firth in northern Germany today, and triggered the polite applause of onlookers – mainly fishermen and shipyard workers. "We've made it, she's safe, and she floats," whispered its owner, Immo Ströher, with tears welling in his eyes.

But the real challenges for the gleaming white catamaran still lie ahead, as its makers seek to use it to prove that the sun can fuel our world.

Next year, after an intense testing phase, Türanor – the name, inspired by JRR Tolkein's Lord of the Rings, means "power of the sun" – will embark on her maiden voyage, a round-the-world trip during which her two-man crew will attempt to chase the sun in order to capture as much available solar power as possible and navigate her at an average speed of 7.5 knots.

Ströher's granddaughter christened her today by smashing a bottle of champagne against her teak deck, and pronouncing: "May you always have plenty of water under your bows, and sun on your deck."

Labels: Solar News, solar panels, Solar Technology

posted by Ertai at 8:05 AM | 0 comment(s)