Harris Roen, Editor
Roen Financial Report
September 28, 2012
Two struggling solar companies get a boost, as does Germany’s largest utility.
RWE signs joint venture to build 210 megawatts of hydro power in Bosnia. HSBC upgrades stock rating. Stock rises 2% in one day on news, and is up 25% in a year.
RWE RWEOY is a German electricity and gas utility with about 16,000,000 customers across Europe and the U.K. RWE is a leader in smart grid development and has a division that specializes in electricity and heat generation from renewables. It manages hydro, wind and biomass plants, which make up about 7% of the utility’s generating capacity.
New director Bruce Yung appointed to develop China solar market. Stock jumps 11% in one day on news.
First Solar, Inc designs and manufactures photovoltaic solar modules. This Arizona-based company is by far the largest thin-cell solar company in the U.S. In fact, FSLR’s market cap is twice as large as its next closer competitor. The company provides modules for roof-top, ground mount and utility-scale solar projects.
Suntech secures ¥200 million ($32 million) loan from Bank of China. Shares soar 11%for the day, but still down 53% from February highs.
Suntech Power STP is a solar energy company that manufactures photovoltaic panels. It also provides engineering and construction services for residential, commercial, and utility-scale projects. This Chinese company has a 2 gigawatts production capacity. It has offices in 13 countries and sells its products worldwide.
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