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Stock Market & Financial Investment News

News Breaks
May 27, 2014
07:05 EDTCSIQCanadian Solar announces joint venture with GCL-Poly in China
Canadian Solar announced that it has entered into an agreement with GCL-Poly Solar System Integration, a subsidiary of GCL-Poly Energy Holdings Limited to establish a joint venture to build a manufacturing site to produce crystalline silicon solar cells in Funing, Jiangsu Province, China. Under the terms of the agreement, Canadian Solar will own 80% and GCL will own 20% of the equity in the Joint Venture. In the initial phase, this new solar cell plant will have 300MW annual production capacity. The company expects multi-crystalline cell conversion efficiency at the Funing plant to reach 19% by the end of 2014. The new site can accommodate annual production capacity of up to 1.2GW of solar cells, if fully built. The decision to expand beyond the initial phase will be subject to market conditions. With the addition of the Funing plant, Canadian Solar's annual cell manufacturing capacity will total 1,560 MW, up from 1,500MW at the end of 2013.
News For CSIQ From The Last 14 Days
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July 18, 2014
12:48 EDTCSIQSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
July 16, 2014
07:08 EDTCSIQCanadian Solar responds to WTO ruling against U.S. PV import duties
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July 15, 2014
07:04 EDTCSIQWTO says U.S. tariffs on Chinese solar cells against rules, Xinhua reports
The World Trade Organization yesterday ruled that U.S. tariffs on Chinese solar cells violated the rules of the organization, according to Xinhua. China requested that the WTO probe the subsidies in 2012, the news service noted. The WTO also said that U.S. tariffs on Chinese steel products and paper violated the organization's rules, the news service added. Publicly traded solar energy companies include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE).Reference Link
July 14, 2014
11:16 EDTCSIQWTO finds U.S. violates trade rules with tariffs on Chinese steel, solar panels
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