S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Energy

MEMC’s Solar Christmas Order (WFR, XEL)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

If anyone in the solar space could use an order for Christmas, it is MEMC Electronic Materials Inc. (NYSE: WFR).  The company’s SunEdison solar services unit, just received an order from Xcel Energy (NYSE: XEL) in its Southwestern Public Service Company.  The order is for New Mexico and is expected to be fully operational by the end of 2011.  The five photovoltaic installations represent a 50 megawatt order that will generate enough electricity to power 10,000 homes.

This order is part of Xcel’s renewable standards in the state to meet 15% of the public utility’s electricity needs by 2015 and 20% by 2020.  The facilities will be built, financed and maintained by SunEdison in a 20-year solar power services agreement with Xcel Energy.

It is hard to tell if this will be enough of an order for analysts to juice up estimates at all.  As of today, the Fiscal DEC-2010 consensus estimates from Thomson Reuters are $0.84 EPS and $1.60 billion in revenues.  This has so far hardly been able to move the bar for MEMC.  Its stock is up 1.5% at $13.32, and the 52-week trading range is $11.32 to $21.36.

JON C. OGG

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Jon C. Ogg |

Wells Fargo Sticks By Solar Financing (WFC, XEL)

Wells Fargo & Company (NYSE: WFC) has stood by the equity financing for a 53.5 megawatt (MW) multi-site solar project in…
Paul Ausick |

What SunEdison Needs to Do Pronto

Monday morning, SunEdison announced a series of actions designed to "optimize business operations in alignment with current and future market…
Jon C. Ogg |

Alternative Energy Watch: US Nukes Safe Americans Tell Gallup; Wind Installations Lag in 2010 (ARVCF, EXC, DE, AMAT, ASML, WFR, SPWRA, STP, YGE, XEL, GE, PCG)

It is time for our daily review of the alternative energy sector. The pollsters at Gallup asked US citizens in…
Jon C. Ogg |

Alt-Energy Watch: Solar Mergers Begin, Saudi Solar, Solar Lawsuits (WFR, SPWRA, TOT, FSLR, TAN)

Today’s alternative energy news is solar, solar, solar…. We have an acquisition in the solar PV project development business. A…
Paul Ausick |

Wells Fargo Finances Solar Farm

SunEdison LLC, a subsidiary of MEMC Electronic Materials Inc. (NYSE: WFR), will get financing for an 11.3-megawatt solar project from…
Jon C. Ogg |

Alternative Energy Watch: Investment in Clean Energy Fall; France Cancels Permits for Shale Gas Drilling; MEMC Meets Canadian Rule for Feed-in-Tariff (TOT, DVN, MEMC, CSIQ)

Today’s review of developments in alternative energy includes a look at the drop in investment in clean energy projects, the…
Jon C. Ogg |

Solar M&A Watch: Shopping for Revenues (WFR, FSLR, TSL, SPWRA, TAN)

There may be more M&A headed to the solar sector.  Solar wafer maker MEMC Electronic Materials, Inc. (NYSE:WFR) has announced…
Paul Ausick |

Solar Industry Takes Another Blow (WFR, FSLR, SPWR, STP, YGE)

One piece of the solar industry that has taken a bigger hit to prices than the panel makers, it’s the…
Jon C. Ogg |

Solar Industry Sees New Entrants and Some Exits (SPWRA, CRDN, AMAT, WFR, GE)

An expected 27,000 attendees are spending a few days in Los Angeles at the Solar Power International 2010 conference and…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618