If one sector always keeps having new projects and new expansions, it is solar and alternative energy. There were several announcements this morning from some key solar players such as Energy Conversion Devices (NASDAQ: ENER), Suntech Power Holdings (NYSE: STP), and Canadian Solar Inc. (NASDAQ: CSIQ).
Energy Conversion Devices (NASDAQ: ENER) and CertainTeed agreed toco-develop sustainable solar residential roofing products for theresidential market to combining ECD’s UNI-SOLAR cells with CertainTeedroofing products. The companies expect these new products to beavailable beginning in 2010. Shares are up about 0.5% in earlyindications.
Suntech Power Holdings (NYSE: STP) has unveiled offerings andinitiatives to take extra market share in the U.S. It aims to tripleits U.S. sales in 2009 and also to capture a larger portion of PV salesin China. It has formed a joint venture with MMA Renewable Ventures todevelop and finance projects of 10 MW and greater. It is alsoacquiring EI Solutions, a California-based commercial solar systemintegration company. Shares are up almost 3% pre-market.
Canadian Solar Inc. (NASDAQ: CSIQ) today announced it has completed thePhase I of its ingot and wafer plant on schedule. Phase II of theingot plant is expected to be completed by year-end, ahead of theoriginal schedule to bring its ingot and wafer capacity to 150 to 200MW. Its annualized capacity is 220 MW now and is expected to reach thetarget of 400 MW by the end of December, also ahead of schedule. Itsbelieves that for 2009 it has secured approximately 4,000 Metric tonsof UMG, enabling it to produce between 250 and 300 MW of UMG e-cellsand e-Module in 2009. It also reiterated shipment and gross marginguidance for 2009 of 500 to 550 MW and 13% to 15%, respectively.Shares are up about 1.6% pre-market.
Jon C. Ogg
October 2, 2008
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