sunpower

SunPower on Thursday announced two deals with Florida Power & Light to build 35 megawatts worth of electricity, including an installation at the Kennedy Space Station.

The deals are the largest to date for SunPower, which makes and installs solar photovoltaic panels.

A 25-megawatt plant will be installed by DeSoto County by 2009 and the Kennedy Space Center will have its 10 megawatt plant done by 2010. Florida Power &Light will own and operate the plants.

The largest solar photovoltaic plant in the U.S. is at the Nellis Air Force base in Nevada, which generates 14 megawatts.

Earlier … Read more

First Solar exceeded expectations once again in its most recent quarter and told investors that revenue for 2008 would likely come in at $975 million to $1.05 billion, higher than the $900 million to $950 million range provided earlier.

The company--which specializes in cadmium telluride solar cells--reported revenue of $196.9 million for the first three months of the year, more than double the $66.9 million in revenue garnered in the first quarter of 2007. Net income went to $46.6 million, or 57 cents a share, well above the $5 million for the first quarter of 2007. … Read more

First Solar, the fast-growing maker of a type of solar panel that's a big source of debate among those in the clean-tech world, surprised investors again by reporting revenues and earnings that far exceeded expectations, capping a year of unusually strong growth.

The Phoenix-based company, which uses a material whose cost effectiveness is up for debate, said revenues came to $200.8 million for the fourth quarter of 2007 while net income came to $62.9 million, or 77 cents per share. Analysts had expected revenue of $180 million and earnings per share of 53 cents. For the fourth … Read more

SunPower on Thursday reported a drop on fourth-quarter earnings, but a sharp increase in annual revenues driven by large solar projects.

Net income for the fourth quarter, which ended December 30, 2007, was $4.8 million, or 6 cents per share. That is a 56 percent decline compared to the same period in 2006.

Revenues for the quarter were $224.3 million, over 200 percent higher than the same period a year earlier.

The company said the jump in revenue was due to strong demand for solar electric equipment and the installation of a few large projects, including the Nellis Air Force Base … Read more

SunPower and General Electric Energy Financial Services are partnering to build solar power installations generating 8 megawatts in California by the end of the year.

The five projects include what could become the nation's largest solar panel installation on one roof, capable of 2.3 megawatts, at Toyota Motor Sales' Parts Center. Construction is set to start next month.

GE Energy Financial Services is acquiring a majority equity interest in the projects for an undisclosed amount. It will own the systems built and run by SunPower, a maker of high-efficiency solar panels.

The San Jose, Calif.-based company, which … Read more

Correction: Spokespeople from SunPower and MMA Renewables said the size of the installation at Nellis Air Force base has been revised to 14.2 megawatts, not 15 megawatts as the Air Force and those companies originally said.

Nellis Air Force Base in Nevada, the land of lots of sun and plenty of land, will be home to a 70,000 solar-panel installation which, at 14 megawatts, will be the largest in North America.

The U.S. Air Force on Tuesday said Nellis and SunPower have finished the first phase of the project, which will save the base $1 million a … Read more

First Solar, which makes cadmium-telluride solar cells, is having one of those years that corporate managers and investors dream about.

Revenues more than tripled in the third quarter to $159 million from a year ago while profits rose to $46 million, or about ten times what they were the year before. Plant expansion is occurring rapidly and the company's stock has gone from $20 to over $200 in a year. The stock price seems vastly inflated when you look at traditional price-earnings ratios, but it's not the first time people have bet big on a growth stock. It'… Read more

SunPower, a U.S. manufacturer of high-efficiency solar cells and panels, said Tuesday that it will build an 18-megawatt solar power plant in the Badajoz region of Spain.

The plant is expected to open in 2008, and will generate more than 32 million kilowatt-hours of energy upon completion. Overall, SunPower has power plants capable of generating 100 megawatts of power in the country.

Although a lot of people think of solar panels as something that goes on the roof of a home or commercial buildings, most solar panels manufactured today go into old farming fields. Germany, Ontario, Spain and other … Read more

SunPower, which makes high-efficiency solar panels, continued its rapid expansion in the first quarter as revenue climbed to $142.3 million in the first quarter, while net income rose to $1.2 million.

When acquisition and other non-recurring costs (such as stock based compensation) are excluded, net income came to $23.3 million, or 29 cents a share. Gross margins, meanwhile, came in at 29 percent, in part because the average selling price of solar cells and panels rose three percent over the previous three months. Typically in most hardware industries, average selling prices decline.

The figures, which came out … Read more