Chinese photovoltaic solar manufacturer, LDK Solar, Ltd. has been selected to supply the modules for largest privately-owned solar power project in the Western Hemisphere.
It was another underwhelming week for the stock markets, with the broad markets and broad clean energy indices all losing ground over the five days.
The only strongly positive clean energy sector was wind power and technology, with the EnergyBoom Wind Subindex (E•B Wind) increasing 1.35% and the First Trust Global Wind Energy ETF (FAN) climbing 0.90%. Biggest loser was the solar power and technology sector, with the EnergyBoom Solar Subindex (E•B Solar) falling 7.34% and the Guggenheim Solar ETF (TAN) dropping 6.27%.
Solar power component companies roared back to the top of the heap this week, with the EnergyBoom Solar Subindex (E•B Solar) increasing 7.91 percent and the Guggenheim Solar ETF (TAN) increasing 6.38 percent, beating all other green tech sectors and the broader markets.
Shares of semiconductor and solar technology technology company MEMC Electronic Materials, Inc. (NYSE: WFR) were trading up more than 13 percent at mid-day after announcing Fiscal 2010 and Q4 financial results that were dramatically higher than 2009. The company also forecast profits of 40 percent to 300 percent higher for 2011.
OTHER NEWS: Ormat Technologies, LDK Solar, Power-One
Most green sector stock market indicators, including all five EnergyBoom indices, trounced the broader markets in the United States and overseas this week. The best performance was turned in by the EnergyBoom Solar Subindex (E•B Solar) which increased 5.28 percent.
Shares of LDK Solar Co., Ltd. (NYSE: LDK), a leading vertically integrated manufacturer of photovoltaic (PV) products and the world's largest producer of multicrystalline solar wafers, rose 18 percent Monday after the company increased its guidance for its fourth quarter 2010 and fiscal year 2011.
(Other news: Johnson Controls, Inc.; Cree, Inc.)
Shares of tiny photovoltaic (PV) systems and module manufacturer Solar Power, Inc. (OTCBB: SOPW.OB) jumped 30 percent Thursday (but slipped back six per cent in early trading today) after it announced that LDK Solar Co., Ltd. (NYSE: LDK), the world’s largest producer of multicrystalline PV wafers, was buying 70 percent of the company for approximately $33 million.
Other news: AQT Solar heading to South Carolina