Several major deals were announced in the solar industry this week.
Atlanta-based Georgia Suniva Inc., a relative newcomer on the scene and a spin off of technology developed at Georgia Tech, announced a $480 deal with Titan Energy. Suniva will supply the Indian solar module manufacturer with monocrystalline silicon solar cells through 2013.
SunEdison, North America’s largest solar energy services provider, has entered into a 5-year development agreement with Q-Cells International USA Corporation, a subsidiary of German solar company Q-Cells AG (QCE.DE). Q-Cells will provide up to 800 MW of solar modules, and the companies will jointly develop and operate PV solar power systems in North America.
LDK Solar Co., Ltd (NYSE: LDK), a leading Chinese manufacturer of solar wafers, awarded a US$220 million contract to Applied Materials, Inc. (Nasdaq: AMAT) for equipment to support its next phase of production expansion.
California-based residential solar installer Real Goods Solar, Inc. (NASDAQ: RSOL) expanded through the acquisition of Energy Systems, Inc. of Santa Cruz. This is the third acquisition in less than a year.
Solar superstar First Solar, Inc. (Nasdaq: FSLR) announced plans to expand its manufacturing operations at its Perrysburg, Ohio facility. The expansion will bring the facility to the same four-line configuration as First Solar’s five other plants located in Germany and Malaysia. The new annual capacity will be approximately 192 MW in 2Q10.
In other news, Canadian energy company AltaGas Income Trust (TSX: ALA.UN) significantly expanded its renewable energy portfolio, purchasing rights to approximately 325 megawatts of hydroelectric development projects and 600 MW of wind development projects. The company now has 1,900 MW worth of renewable energy projects under construction or development.
Trilliant Incorporated, a company that develops network solutions for smart grids announced that it has raised $40 million, which will be used to expand the company’s market globally. The company already has more than 100 utility customers, including Duke Energy, E.ON US (Louisville Gas & Electric), Hydro Quebec, Public Service Electric & Gas, and San Diego Gas & Electric,
And finally, Suntech Power Holdings Co. , Ltd. (NYSE: STP) was the latest solar company to report stronger than expected 2Q results. Net income for the quarter was $65.2 million or $0.38 per American Depository Share (ADS), compared to $41.3 million or $0.25 per share a year ago. Analysts, on average, expected earnings of $0.32 per share, according to Reuters Estimates.
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