SunPower stock shines after earnings report bolsters solar
SunPower, acknowledged to be the second-largest solar module maker in the U.S., saw its stock price jump 28 percent today following its announcement of expectation-beating second quarter earnings. This success has not only fortified the company but is being cited by many analysts as evidence that solar will rebound and grow in the next year.
The increase in stock price sent a ripple through the solar global industry, pushing up share prices for companies like prime… Continue Reading
Mainstream Energy, a local solar installer, gets $40M from Norwegian firm
Renewable Energy Corp., a vertically-integrated solar supplier based in Norway, has put $40 million into San Luis Obispo, Calif.-based Mainstream Energy for a 20 percent stake in the company.
Mainstream supplies and installs solar modules to consumers and businesses, and also negotiates supply agreements with utilities. The investment gives REC an entry-point into the US market.
Mainstream itself has stakes in two smaller companies: AEE Solar, a wholesale solar distributor, and REC Solar (no relation to the… Continue Reading
Roundup: Cleantech gets record investments, Google opens enterprise market and more
Here’s the latest action:
Cleantech investments laugh in the face of recession — Everyone knows the economy is in the dumps, right? (Heck, it even says so in The New York Times.) Well, no one told the VCs putting their money in cleantech. The Cleantech Group reports that cleantech investment reached a record high of $1.25 billion during the first quarter of 2008, with $195 million going to biofuels and $119 million going to solar. It… Continue Reading