China Sunergy just announced the purchase of 2 solar module manufacturers, CEEG (Shanghai) Solar Science & Technology Co., Ltd and CEEG (Nan Jing) New Energy Co., Ltd, for a total price of approximately $47 million. The company is funding the transaction on its own, and will pay for the acquisitions in a series of installments.

CEEG (Shanghai) Solar Science & Technology produces 150 MW per year and is increasing capacity to 300MW by the middle of the year. CEEG (NanJing) New Energy is currently at 70 MW but is expected to be at 170MW later this year.  Both companies were controlled by China Electric Equipment Group Co., Ltd, which in turn is controlled by China Sunergy’s chairman.

In a press release, Mr. Lu Tingxiu, Chairman of China Sunergy, commented on the decision to purchase the manufacturers:

“These acquisitions enhance China Sunergy’s position in the downstream photovoltaic market and advance our initiative of developing into a comprehensive solution provider and providing value-added services to customers…Being vertically integrated will help to stabilize and increase margins in a possibly volatile environment, while representing a transformation towards a solution provider. We are reshaping the company from a single dimension manufacturing-oriented business into a platform with two pillars: technological innovation and a closer distribution channel to end customers. This acquisition will also positively impact China Sunergy’s customer composition, as we can further focus on providing value-added services to system installers and integrators.”

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Converted Organics just announced that they have shipped their LC 1-1-1 liquid organic fertilizer to Liberty Acres Fertilizer Corporation, a major East Coast fertilizer distributor with centers in Florida, Georgia, South Carolina and North Carolina. The company expects to ship more of this product to Liberty Acres in the next few weeks.

In a press release, David A. Flannery, Vice President of Marketing for Converted Organics, commented on the news:

” Partnering with Liberty Acres to provide fruit and vegetable growers with our unique LC 1-1-1 liquid organic fertilizer opens the door for Converted Organics on the extremely important and vital East Coast agriculture market. By working with Converted Organics, Liberty Acres can, for the first time, offer organic and conventional growers in the east a new range of organic fertilizers that are environmentally-friendly and safe for annual crops such as tomatoes, peppers, melons and strawberries.”

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Raser Technologies (RZ) is moving higher in premarket trading after reporting better than expected results last night.  The company reported a loss of .07/share which beat the estimate of -.11/share and is a big improvement over the year ago quarter when the company reported a loss of .17/share.  That’s in large part due to the company now selling power from its Thermo plant to Anaheim, CA which is giving revenues a boost.  The company reported nearly $1 million in revenues this quarter which is the 3rd straight quarter of improving revenues.  All in all, a nice quarter from a company that has really struggled in the past year.  With a new CEO on board and some revenues coming in from its Thermo plant, this may be a stock to watch in the coming weeks.

Raser Chairman Kraig Higginson commented:  “We continued to grow in the fourth quarter 2010 and signed key deals that will keep us moving in the right direction.  We expect that the partnership with Evergreen will allow Raser to begin capitalizing on the abundant geothermal resources the Company has acquired. We are also pleased to see the output at Thermo 1 continue to increase as we make improvements and modifications. We have progressed from raw land to an operating power plant in just over two years at our Thermo Resource. Although behind our initial aggressive timeline, it is still far ahead of anyone else in our sector, which certainly validates our premise of a modular, rapid deployment strategy. I am confident we now have the team in place to further refine the process and complete future deployments in a more streamlined manner.”

New CEO Nick Goodman indicated that the company is making final preparations to begin their next geothermal energy project at the Lightning Dock, New Mexico site and expects to begin drilling soon.  However, it’s still pending permits and financing so soon could mean many months.. we’ll see.

===> Click Here For Your FREE Raser Technologies Analysis

Trina Solar (TSL) is under pressure this morning after announcing last night that it intends to offer 7,900,000 ADS shares for sale with the option for underwriters to purchase an additional 1,185,000 shares.  Proceeds will be used to expand manufacturing capacity, R&D and general corporate purposes. 

Shares are down about 4% in premarket trading as the stock continues to trade below the 50 day moving average and showing technical deterioration.  It looks like it may need to retest the area around the 200 day moving average in the coming weeks.

===> Click Here For Your FREE Trina Solar Analysis

STR Holdings (STRI) impressed Wall St after the bell today smashing estimates and guiding higher.  The stock is up about 4% in after hours trading after the company reported an EPS of .42/share which is nearly double the analyst estimates.  Revenues also came in higher than estimates at $80 million vs the analyst estimate of $69 million.  While that’s only a 6% improvement in revenues over the year ago quarter, it’s a huge EPS bump of nearly 200%.

STR is also guiding higher and sees Q1 sales about inline with what they reported this quarter at $77 – 81 million (vs analyst estimate of $66 million.  They see Q1 EPS of .23 – .25 vs the estimate of .14/share.  For the full year 2010,  they estimate sales of $310 – 330 million and EPS of $1.05 – 1.10/share.  Wall St estimates call for $314 million in revenue and an EPS of $1.00.

All in all, a very strong quarter but one that was aided by the coming reductions in Germany and Italy as well as a mild winter in Europe.  CEO Dennis Jilot commented, “Our revenue grew sequentially by 42.3% as expected reductions to solar subsidies in Germany and Italy and a favorably mild winter in Europe drove stronger-than-anticipated demand during the quarter. As the only encapsulant provider with manufacturing and distribution capabilities in North America, Europe and Asia, STR’s global footprint continues to be a key differentiator for us. This quarter, utilization of our Malaysian plant enabled us to increase our market penetration in Asia, including an increase in sales volume in China. Gross margin improved to 43.8%, a 550 basis point expansion from the third quarter of 2009.”

Technically, shares of STRI look very strong having broke out of a cup with handle base on Tuesday and clearing all time highs today.

===> Click Here For Your FREE STR Holdings Analysis

Akeena Solar just announced that it will begin offering solar installations services for Lowe’s customers. The company will offer these services via 21 Lowe’s stores in California. Akeena’s Andalay AC solar panels are already available in these Lowe’s stores through Lowe’s Energy Centers.

In a press release, Barry Cinnamon , CEO of  Akeena Solar,commented on the news:

” Akeena Solar  has always focused on making solar power easy — and therefore more accessible for customers. Now that homeowners can see Andalay AC solar panels on the shelves at  Lowe’s , there is even more interest in installing solar for their own homes. Homeowners now have the option to install a few panels on their own or use Akeena’s professional installation services available through  Lowe’s .  Lowe’s  and  Akeena Solar  give homeowners the flexibility they need to get reliable solar energy and immediately decrease their electric bills.”

===> Click Here For Your FREE Akeena Analysis

First Solar just announced that it is now an Associated Partner in the Desertec Industrial Initiative, which aims to demonstrate the potentila of photovoltaic (PV) solar technology to produce power in desert areas by using a combination of PV solar and wind energy to supply a significant percentage of electricity for the Middle East, Northern Africa and Europe by 2050.. First Solar will contribute by providing expertise and preparing the ground for reference projects and a roll-out plan

In a press release, Stephan Hansen, managing director of First Solar GmbH, the company’s European sales and customer service unit for Europe, the Middle East and Africa, commented on the news:

“We look forward to working with Desertec to demonstrate the potential of renewable energies — and PV in particular — to deliver clean, reliable power to the people of Africa and the Middle East as well as Europe. The challenges of energy security and global warming demand bold solutions and Desertec certainly provides an ambitious vision,” he said.

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Suntech just announced that its solar panels have been selected to power what will be the biggest solar power plant in Taiwan. The new plant , which will be owned and operated by Taiwan Power Company, will be installed in Young’an,
Kaohsiung, Taiwan. Liao Wen Sing, Vice President of Fortune Electric Co, which is developing the project, says that Suntech panels were selected on the basis of superior performance and reliability.

Suntech will begin delivery of the 6,640 280 watt advanced polycrystalline modules in June of this year. The 4.7 MW plant is expected to be up and running by early 2011.

In a press release, Roger Ye, Suntech’s President of Asia Pacific, Middle East, and Africa (APMEA), commented on the news:

“We have great expectations for the entire region. Asia and the Pacific already account for about one-third of the world’s total energy demand, although its per-capita consumption is far less than the world’s average. The region’s booming populations, strong economic growth engines, and abundant sunlight represent an exciting opportunity for solar and for Suntech.”

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Evergreen Solar just announced that a new 5MW Italian solar plant is online using Evergreen Solar panels, the largest Evergreen installation thus far. The plant uses 24,600 Evergreen Solar ES-A series String Ribbon solar panels to produce  sufficient electricity for about  2,400 homes.

In a press release, Scott Gish, Evergreen Solar’s vice president of sales and marketing, commented on the news:

“This is a milestone project for Evergreen Solar as we continue to expand our company’s global footprint with the largest installation in company history. Italy is an important and growing market for solar power because of the country’s high amount of sunlight. Our solar panels are particularly well liked as they deliver the most electricity with the smallest carbon footprint of any silicon-based panel.”

===> Click Here For Your FREE Evergreen Solar Analysis

Piper Jaffray has initiated coverage on Green Plains Renewable Energy (GPRE) this morning with an Overweight rating and a price target of $19. Hat tip to Street Insider for the following analyst comment:

“We believe this vertically-integrated ethanol producer is poised to deliver significant earnings growth over the next two years through much-improved ethanol production margins and the potential for highly-accretive M&A activity. The company’s recent capital raise strengthens the balance sheet and positions GPRE to pursue internal expansion plans and acquisitions across business verticals (most notably ethanol facilities)…Favorable supply & demand dynamics have led to a resurgence in ethanol production margins since early 2009…We estimate that ethanol acquisitions (for a standard 110 million gallon facility) would add $0.30-$0.40 in EPS and $27-$33 million in EBITDA in year 1, assuming the purchase price is ~$1.00/gal of production…From a regulatory standpoint, the increase in the RFS mandate in 2010 and the potential for the EPA to lift the ethanol blendwall later this year present positive macro catalysts for the stock.”

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