Unfortunately Chuanwei Zhang was not yet able to announce this new agreement at today's CC with Narendra Modi. This why the forward guidance is so optimistic.
BY KEN HOOVER, INVESTOR'S BUSINESS DAILY
05/18/2015 06:15 PM ET
Solar energy stocks seemed to have gotten their mojo back. As of Monday's IBD, they are now the No. 2 industry group out of 197, up from No. 129 just six weeks ago. The rapid move up has coincided with the partial recovery of oil prices. Solar is an alternative to fossil fuels, so when West Texas intermediate prices sank from above $100 a barrel to the mid-40s earlier this year, the outlook for solar turned bleak. With the recovery to $60, solar looks a bit better.
It's also allowed some solar stocks to set up in bases.
Solar stocks are still a long way from the heady days of 2006-2007, when companies like First Solar (NASDAQ:FSLR) climbed from the low 20s to above 300, then collapsed in a heap during 2011 and 2012.
First Solar issued a disappointing earnings report earlier this month and is currently not among the leaders in the group.
Among the stocks to watch in the group is Israel-based SolarEdge Technologies (NASDAQ:SEDG). The company makes power optimizers and inverters to convert the sun's heat into electricity. The company claims its technology is more efficient than that of competitors.
The stock came public March 26 with an offering price of 18 and closed its first day of trading at 20.70. Since then, the stock has climbed eight straight weeks, denying investors anything resembling a buy point.
SolarEdge is a good example of a technology IPO that is just starting to turn a profit with outstanding prospects.
The company didn't report a quarterly profit until three quarters ago. Since then, EPS has risen from 6 cents to 9 cents to 22 cents, with analysts forecasting another 22-cent quarter in the next report.
Analysts expect 117% earnings growth in 2016.
The company recently announced a collaboration with Tesla Motors (NASDAQ:TSLA) to build its home battery.
Canadian Solar (NASDAQ:C
Ming Yang Forms Strategic Partnership with Reliance Group
Development of up to 2,500 MW Clean Energy Projects in India and Expansion into South Asia Region
ZHONGSHAN, China, July 2, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that the Company, through Ming Yang Holdings (Singapore) Pte. Ltd. ("Ming Yang Singapore"), its Singapore subsidiary, has entered into definitive agreements with Reliance Capital Limited and its related entities, forming part of Reliance Group ("Reliance"), one of India's largest private enterprises.
In addition, the Company has signed a Memorandum of Understanding ("MOU", together with the definitive agreements above mentioned, "Agreements") with Reliance Power Limited ("Reliance Power"), the largest private sector power company in India, both, in capacity under development as well as Market Cap, to co-develop a large portfolio of clean energy projects.
Under the Agreements, Ming Yang Singapore plans to establish a joint venture with Reliance Capital by subscribing new shares to a significant stake in the share capital of Global Wind Power Limited ("GWPL"), a leading wind power solutions provider in India, in which Reliance Capital Limited and its related entities are currently the largest shareholders.
According to the MOU, China Ming Yang Wind Power Group Ltd. is expected to provide total engineering, procurement and construction ("EPC") solutions, including micro-siting, wind resource assessment studies, project financing and other services for the proposed projects for Reliance and third parties. Reliance is expected to play a supporting role in facilitating these proposed projects in addition to providing local market support."Reliance is the leading player in India's utility sector, committed to clean energy development, and our strategic partnership is another strong endorsement of our capabilities in overseas markets, where we offer total solutions by combining equipment, technology innovation and financing support. This platform between Reliance and Ming Yang is expected to enable us to quickly capture and grow India and South Asia markets. We are confident that our international market development will gather great momentum and further drive the Company's growth," added Mr Zhang.
Ms. Ling Wu, who is the wife of Mr. Chuanwei Zhang, Ming Yang’s Chairman and Chief Executive Officer, is one of a group of sellers who have agreed to sell to Ming Yang certain entities holding the shares in China Smart. Mr. Chuanwei Zhang declared his material interest in the acquisition to Ming Yang’s Board of Directors (the “Board”). The Audit Committee of the Board evaluated and approved the acquisition of RENergy, and recommended that Ming Yang undertake and consummate the acquisition. Upon full payment of the purchase consideration by Ming Yang, Ms. Ling Wu will receive 20,539,306 ordinary shares in Ming Yang and RMB213,493,658 in cash.
RENergy is engaged in the manufacture, sale, research and development of electrical system equipment. It is China’s largest supplier of core components for wind turbine generators (“WTG”), including components such as main control systems, pitch control systems and converters. RENergy is the only company in China that provides total electrical control solutions by offering and integrating the three core components of the electrical control system. It has a team of over 550 staff based at its headquarters in Tianjin and in two nearby production plants. Of this team of personnel, approximately 30% are focused on research and development. With nine trademarks and over 130 patents, RENergy is the first China-based company to have proprietary core control technology relevant to electrical control systems.
RENergy historically has been one of Ming Yang’s major suppliers, and has been considered and treated as a related party of Ming Yang. In 2014, RENergy supplied RMB794.4 million (US$128.0 million) worth of components to Ming Yang, representing 87.1% of Ming Yang’s aggregate amount of related party transactions involving purchases of raw materials. Following Ming Yang’s acquisition of RENergy, Ming Yang will consolidate the results of RENergy and Ming Yang’s financial statements will no longer include related party transactions invol
SHANGHAI, China, May 18, 2015 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest manufacturers of high-performance solar power products, today announced its unaudited financial results for its first quarter ended March 31, 2015.
First Quarter 2015 Highlights
Total shipments were 681.5 megawatts ("MW"), an increase of 6.8% y/y and decrease of 28.5% sequentially
Shipments of modules and module tolling were 584.1 MW, an increase of 50.5% y/y and decrease of 33.6% sequentially
Shipments of cells and cell tolling were 97.4 MW, a decrease of 61.1% y/y and an increase of 33.2% sequentially
Net revenue was RMB 2.4 billion ($387.7 million), an increase of 5.6% y/y and a decrease of 32.8% sequentially
Gross margin was 16.1%, a decrease of 60 basis points y/y and an increase of 60 basis points sequentially
Operating profit was RMB 149.6 million ($24.1 million), compared to RMB 160.9 million ($26.0 million) in the first quarter of 2014, and RMB 222.4 million ($35.9 million) in the fourth quarter of 2014
Net income was RMB 35.0 million ($5.6 million), compared to RMB 85.0 million ($13.7 million) in the first quarter of 2014, and RMB 166.1 million ($26.8 million) in the fourth quarter of 2014
Earnings per diluted ADS were RMB 0.59 ($0.10), compared to RMB 1.41 ($0.23) in the first quarter of 2014, and RMB 2.55 ($0.41) in the fourth quarter of 2014
Cash and cash equivalents were RMB 1.9 billion ($306.2 million), a decrease of RMB 256.7 million ($41.4 million) during the quarter
Operating cash flow was negative RMB 237.1 million ($38.2 million), compared to positive RMB 198.2 million ($32.0 million) in the first quarter of 2014
Non-GAAP earnings1 per diluted ADS were RMB 0.82 ($0.13), compared to RMB 1.99 ($0.32) in the first quarter of 2014, and RMB 1.74 ($0.28) i
Sentiment: Strong Buy
I pitty the fool that has not covered their short position .....Canadian Solar will rock the market !!
Indian and Chinese companies signed deals worth $22 billion in Shanghai on Saturday, soon after Prime Minister Narendra Modi made a strong pitch for the two countries to work together in an address to the India-China Business Forum. External Affairs Ministry spokesperson Vikas Swarup in a tweet shared an official document containing details of the agreements signed between Indian and Chinese companies, spanning industries including renewable energy, power infrastructure and steel.
Here's a list of the pacts signed:
Axis Energy Ventures India signed a tripartite MoU in the renewable energy sector with Chinese companies Mingyang Wind Power and Global Wind Power.
Essel Solar signed a pact with China's JA Solar to set up a solar cell and module manufacturing facility.
Sentiment: Strong Buy
Canada’s Solar Success Overshadowed During Indian PM Visit
Dan Woynillowicz | April 23, 2015
You wouldn’t know it from the media coverage, but the biggest energy story coming out of last week’s visit to Canada by Indian Prime Minister Narendra Modi had nothing to do with oil and gas prospects, or uranium.
Those of us tracking clean energy trends haven’t paid India much attention in recent years. Let’s face it, China dominates the headlines, including ours.
But last year we witnessed the start of a turnaround on the subcontinent. India attracted $7.4 billion of clean energy investment, up 14 percent over 2013. In part we can credit greater political certainty; in May, Prime Minister Narendra Modi secured the first single-party majority government in three decades.
Investors also likely took note of the Prime Minister’s clean energy political track record. Back in 2009, as chief minister of the state of Gujarat, he successfully pioneered India’s first solar incentives.
Building on that experience, late last year Modi set a target of installing 175 gigawatts of renewable energy by 2022. Solar will provide the bulk of the capacity—an impressive 100 gigawatts. That’s a 33-fold increase in solar power relative to today. Achieving the target would increase solar power’s share to more than 10 percent of India’s energy mix. It’s huge.
Delivering on this scale of renewable energy ambition will require on the order of $160 billion of investment, so the numbers we’re likely to be seeing out of India in the coming years should be impressive.
Analysts are taking note. In its most recent Renewable Energy Country Attractiveness Index, Ernst & Young boosted India into a top-five ranking and countries and companies around the world are lining up to take advantage of the opportunity. The potential for solar companies up and down the supply chain is massive.
some traders became accustomed to seeing Canadian Solar manipulated down after every spike in pps due to small float ...CSIQ does not do this any longer because of it's recognized stellar growth...Playtale/Sorbetfuel were slow to realize the paradigm shift in this issue and are most likely hurting badly by shorting the number 1 solar stock in the market today.. best to put them on ignore since they have nothing to contribute here...
88.64% Institutional ownership now in Nanosphere .5,197,208 shares have been purchased by institutions during Q1 representing a net increase of 4,683,629 !
immediately following the Q1 Canadian Solar conference call !
Sentiment: Strong Buy
FUD..... somebody got burnt expecting a replay of November's drop after blow-out earnings release;-(
Sentiment: Strong Buy
SunEdison Q1 Misses top and bottom line; Stock Up On 2nd Yieldco Filing at Investor's Business Daily(Thu 1:07PM EDT)
The company will share details about its YieldCo plans at its May 18 investor day. Look a what happens to those that provide info on their Yieldco plans (ie.SUNE jumps over 12.61% today on disappointing results)SunEdison Q1 Misses; Stock Up On 2nd Yieldco Filing at Investor's Business Daily(Thu 1:07PM EDT)
First Quarter 2015 Highlights
•Total solar module shipments were 1.23 GW, of which 1.03 GW was recognized in revenue, compared to 897 MW recognized in revenue in the fourth quarter of 2014, and first quarter guidance in the range of 1.0 GW to 1.03 GW.
•Net revenue was $860.9 million, compared to $956.2 million in the fourth quarter of 2014 and first quarter guidance in the range of $725 million to $775 million.
•Net revenue from the total solutions business as a percentage of total net revenue was 35.9% compared to 51.7% in the fourth quarter of 2014.
•Gross margin was 17.8%, compared to 19.3% in the fourth quarter of 2014 and first quarter guidance in the range of 16% to 18%.
•Net income attributable to Canadian Solar was $61.3 million, or $1.04 per diluted share, compared to $75.7 million, or $1.28 per diluted share, in the fourth quarter of 2014.
•Cash, cash equivalents and restricted cash balances at the end of the quarter totaled $1.04 billion, compared to $1.02 billion at the end of the fourth quarter of 2014.
•Net cash generated from operating activities was $124.9 million, compared to net cash generated from operating activities of $259.1 million in the fourth quarter of 2014.
•During the quarter, the Company closed the sale of three solar power plants in Canada, and connected four solar power plants to the grid in the United Kingdom.
•At the end of the quarter, the Company completed the acquisition of Recurrent Energy, LLP ("Recurrent") from Sharp Corporation, expanding its project pipeline to 8.5 GW.