The big energy-sector story this morning: FirstEnergy Corp. (NYSE: FE) says it will buy Allegheny Energy (NYSE: AYE) in an all-stock deal that values the smaller power producer at $8.5 billion (including debt), according to MarketWatch. About 80 percent of the combined entity’s electricity output will come from coal-fired plants and nuclear facilities.
Computer giant IBM has been hard at work developing a new solar thin-film technology. The objective: make moderately efficient solar film using cheap, abundant materials — like copper, tin, zinc and sulfur. Researchers released a technical paper on Wednesday. In it, they reported a 40-percent improvement in the film’s efficiency, an announcement that’s attracted a lot of press this week (see here, here and here, for example). The product is still in the early stages of development, however, so keep your pants on.
JA Solar (NASDAQ: JASO), a China-based maker of solar panels, beat earnings estimates for Q4, via Barron’s Eric Savitz. Earnings-per-share of 14 cents beat consensus estimates of 11 cents, sending the stock higher in Thursday trading.
Los Gatos, Calif.-based Akeena Solar (NASDAQ: AKNS) posted a larger-than-expected loss for the fourth quarter of 2009, via CNNmoney.com.
The Go Solar Texas coalition, which was in Austin yesterday to promote greater use of solar energy, attracted quite a bit of press for their efforts. Via NYTimes.com: “The group noted that Texas, which produces and refines a huge portion of the nation’s oil, already is home to many companies in the solar business as well as plenty of high-tech and energy industry expertise. … Energy supply is a huge concern in Texas. The state is growing so fast that an estimated 2.2 million single-family homes are expected to be built between 2010 and 2030. Texas also has chronically dirty air, caused in part by numerous coal-fired power plants.” Is solar energy part of the answer? The Texas Public Utilities Commission thinks it merits a deeper look, at least: officials are considering a rule that would require utilities to source 500 megawatts of solar power generation capacity by 2015. Texas produces more wind power than any other state.
Ex-Hawkeye and former NFL-er Tim Dwight was on hand in Iowa on Wednesday, according to the Des Moines Register. Saying that renewable energy is “the biggest opportunity in the history of mankind,” he urged Iowa state lawmakers to pass a number of renewable-energy bills currently under consideration. Dwight is the owner of iPower, a California-based solar energy company.
ReneSola (NYSE: SOL), a manufacturer of solar wafers and solar modules (panels), will over the next three years sell 600 megawatts‘ worth of their product to an unnamed buyer, via PRNewswire.
Finally, Environmental Leader discusses the growing popularity of commercial solar installations.
That’s it for this Thursday. Stay tuned for more solar energy news, info and opinion.
The solar sector has seen a lot of deals and acquisitions, please see
http://thegreenmarket.blogspot.com/2010/02/solar-energy-deals-mergers-and.html