…post sales between 20% and 30% higher than analysts had expected. Even when its most recent earnings release tempered those expectations somewhat going forward, investors still feel much more confident about the solar leader than they did two months ago.
Solar shakeout: LDK Solar subsidiary in Germany enters bankruptcy proceedings (PV-Tech)
Having lost its line of credit from its banks, Germany-based PV supplier Sunways, majority-owned by struggling Chinese manufacturer LDK Solar Co., Ltd (NYSE:LDK), has been forced into insolvency proceedings. According to an announcement by the company, a “relevant third-party application” for bankruptcy was made at the local court in Konstanz, Germany. Attorney at law Dr. Thorsten Schleich, Singen am Hohentwiel, of the law office Schleich & Kollegen, was appointed as preliminary insolvency administrator.
SunPower Solar System Expected to Save Western Municipal Water District Millions Over the Next Two Decades (AltEnergyMag)
Western Municipal Water District’s newly commissioned 916-kilowatt SunPower Corporation (NASDAQ:SPWR) solar power system is soaking up the sun, delivering an expected savings of up to $4.6 million over the next two decades. The system, located at Western’s Operations facility off of El Sobrante in Riverside, Calif. is also helping maintain Western’s commitment to supporting deployment of renewable energy technologies. Western contracted withSunPower Corporation (NASDAQ:SPWR) to install the SunPower T0 Tracker® system at its Operations facility. The solar system follows the sun’s movement during the day, increasing sunlight capture over conventional fixed-tilt systems.
Trina Solar gets show of support (optionMONSTER)
Trina Solar Limited (ADR) (NYSE:TSL) has declined sharply in the last week, but traders apparently believe that any further losses will be limited. optionMONSTER systems show that 12,000 June 4 puts traded in a strong selling pattern yesterday, led by a print of 8,000 that went for $0.23. The volume was far above the strike’s open interest of 2,312 contracts before the session began, clearly indicating new activity. The put selling is a bet that Trina Solar Limited (ADR) (NYSE:TSL) will hold above $4 through expiration in mid-June. If the stock falls below that strike price, the trader faces the possibility of having to buy shares at that level.