SOLF

[waxweazle]

0.06.2008 12:04
Solarfun Announces New Business Developments
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Solarfun Power Holdings Co., (News) Ltd. ("Solarfun" or "the Company") (NASDAQ:SOLF), an established vertically integrated manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, today announced several major business developments. Jiangsu Linyang Solarfun Co., Ltd, a 100% subsidiary of Solarfun ("Linyang Solarfun"), has entered into a long-term polysilicon supply agreement with Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd., a subsidiary of GCL Silicon Technology Holdings Ltd. ("GCL Silicon Technology"'). Solarfun has also entered into an agreement to purchase the remaining 48% stake in Jiangsu Yangguang Solar that it did not own.

Long-term Supply Agreement with GCL Silicon Technology

Under an agreement dated June 22, 2008, GCL Silicon Technology will supply Solarfun with virgin polysilicon sufficient to produce approximately 1.2 gigawatts ("GW") of solar modules in aggregate over eight years. Deliveries begin immediately. This agreement provides further security for the Company's ability to meet its polysilicon needs and reach its target of 160 to 180 MW of module shipments in 2008.

Harold Hoskens, Chief Executive Officer of Solarfun, commented, "This agreement is an important addition to Solarfun's existing supply arrangements for silicon-related materials. The agreement helps improve visibility of our long-term polysilicon supply and strengthens our ability to execute our vertical integration strategy. The new supply will help reduce our costs, improve our quality, and allow us to gain greater control over our future delivery schedule and better leverage our recent wire saw investment."

Hunter Jiang, CEO of GCL Silicon Technology noted, "We are very happy to sign this contract with Solarfun. We already have a good relationship with them and we look forward to building on this in the coming years. We plan to continue to expand our production capacity in order to meet the growing demands of our customers."

Solarfun Purchases Remaining 48% Stake in Jiangsu Yangguang Solar

On June 23, 2008, Linyang Solarfun also entered into an agreement to acquire the remaining 48% equity interest in Jiangsu Yangguang Solar Technology Co. Ltd. ("Yangguang Solar") from Nantong Linyang Electric Power Investment Co., Ltd. ("Linyang Electric") (as to 18%), Jiangsu Qitian Group Co., Ltd. (as to 20%), and Jiangsu Guangyi Technology Co., Ltd. (as to 10%) for an aggregate consideration of approximately RMB355 million (US$51.5 million1), to be paid in installments. As Linyang Electric is 70% owned by Solarfun's founder, Chairman and significant shareholder, Mr. Yonghua Lu, this transaction was also separately approved by the Company's audit committee, which is composed entirely of independent directors. Linyang Solarfun had previously acquired a 52% equity interest in Yangguang Solar Linyang Electric in August 2007. The latest agreement will allow Linyang Solarfun to acquire the remaining stake and take full control of the company. Formal completion of the transaction is subject to customary due diligence and closing procedures.

Yangguang Solar is engaged in silicon ingot production. It is expected to rapidly expand production capacity to 200MW by year-end 2008 and 300MW by year-end 2009.

"This agreement is a significant development for Solarfun," said Mr. Hoskens. "It is key to further advancing the execution of our vertical integration strategy. It will better enable Solarfun to align silicon specifications and quality along the value chain to bring the best value products to our customers. In the time that we have been involved with Yangguang Solar, we have been impressed with both its ability to ramp up capacity and its ingot quality. Bringing together the capabilities of the teams from both Yangguang Solar and Solarfun will allow us to better serve our customers."

About Solarfun

Solarfun Power Holdings Co, Ltd. manufactures silicon ingots and PV cells and modules and supplies solar system integration services in China. The Company produces both monocrystalline and multicrystalline silicon cells and modules. Solarfun sells its products through customers located in many countries. The Company was founded in 2004 and its products have been certified to TUV and UL safety and quality standards. SOLF-G

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30.06.2008 15:05
Canadian Solar signs 10-year wafer supply pact with LDK Solar

BOSTON (Thomson Financial) - Canadian Solar Inc. (News) Monday said it has signed a ten-year supply contract with LDK Solar Co. Ltd. (News) for an additional 800 megawatts of solar wafers through 2018.

The new ten-year supply contract is in addition to the three-year supply contract signed between Canadian Solar and LDK Solar in October 2007.

Delivery under the new agreement is expected to start in July 2009, with about 40 megawatts being shipped in 2009 and about 80 megawatts annually in 2010 and beyond, the company said.

Shares of Canadian Solar rose 4.7% to $40.38 in premarket trades. Shares of LDK Solar closed Friday at $39.82.

Casey Logan

[waxweazle]

Solorfun Power: When Markets Are Irrational
by: Robert Nilsen posted on: July 03, 2008 | about stocks: SOLF



BREAKING NEWS. The world has an enegry crisis. The price of oil is rising. The sun provides more potential energy on a daily basis than fossil fuels do in a year.

CONVENTIONAL WISDOM. If something is appears too good to be true, it generally is. Eventually solar panels will become a commodity (think computer chips - Intel / AMD) and prices will find their equillibrium (think calculators, cell phones, VCRs) levels.

But when will solar panels become commodities? That is the $64,000 (for us baby boomers) questions.

There have been many excellent blogs and postings regarding the solar industry to include detailed analysis of the industry as a whole as well as specific companies. I applaud the efforts of those posters and they should be commended for their contributions.

I am making no attempt to duplicate or question their work products.

I am invested in Solorfun Power (SOLF). Don't ask me why I made my initial investment about a year ago. If I gave you an honest answer you would probably stop reading this right now .... and I would not blame you.

But for now - and the past year or so - I have done fairly extensive analysis of the company and am very fearful that maybe, just maybe ...... this may be too good to be true.

Before I proceed further, a few items related to disclosure. I made a few bucks along the way as an accountant (among other pursuits) and a college proffessor teaching that same subject (and a few others). Check my bio if you wish. As a result, I have made certaind adjustments to the published financial statement of SOLF (most recently as at March 31, 2008).

On the profit and loss side, I exclude R&D expenses. These are not expenses, they are investments! I do not believe in Goodwill. Any classification that includes the word "deferred" is a figment of an accountant's imagination. Income taxes are recorded ... sometimes paid .. sometimes adjusted .. sometimes "deferred." Currency translations are most "cool" but are as relevant as the number of yen to the US dollar after converting to the Italian Lira (oops .. Italy went to the Euro. Sorry!)

Based on the above, here are a few stats for your consideration. Revenues are growing 6 fold (I do not use percentages .. I get easily confused when a percentage increase if over 100%.) Per my definition of Operating Profit, a 7+ fold is occurring.

The current ratio is 2.5. Days inventory on hand is declining to 68.3 days .. still a bit high but heading in the right direction. DSO (Days Sales Outstanding) in Accounts Receivable is a problem .. both in trend and absolute amount ... at 68 days, Cash and advances as a percentage of Bank Borrowings in 91%.

Enough. Sorry to bore you.

I think this stock is a fantastic short and intermediate BUY. I am not a trader. A very small percentage of my portfolio (and net worth) is at risk here. I am 60 years old and 10 years from now I may be "pushing daisies" in the words of my departed father .... but once in a while markets are irrational .. and this may just be one of those times.

Should this post generate any interest, I would be delighted to send my spreadsheet analysis to any and all interested parties.

In Espanol, Via Con Dios!

[waxweazle]

 

Ready again Q´s will come out this week!!!

[vivaviagra]

Solar power gets a big boost from Pacific Gas deal

http://www.usatoday.com/money/industries/energy/2008-08-17-solar-electric_N.htm?csp=34

By Paul Davidson, USA TODAY

Electric utilities are warming to solar power in a shift that promises to turbocharge a technology that has been hindered by high prices and slow consumer adoption.

Pacific Gas and Electric (PCG) in California announced last week it will buy 800 megawatts of solar-generated electricity from two companies, enough to light 239,000 homes. Within three years, PG&E will buy its solar energy from OptiSolar and SunPower, which plan to build the world's two largest solar farms in California as part of the deal.

It would nearly double the USA's entire solar-panel capacity. Driving the trend are solar's falling costs and state alternative-energy mandates.

Solar power has grown but still makes up well under 1% of U.S. power generation. More than 90% of solar panels have been installed on rooftops by maverick consumers and businesses. Utilities' embrace of solar energy will help push it to about 10% of power generation by 2025, predicts Ron Pernick, principal of research firm Clean Edge.

"Just a handful of utilities doing something big changes the scale of the entire market," says Julia Hamm of the Solar Electric Power Association.

Solar power typically has cost about twice as much as electricity from fossil-fuel-fired plants. But PG&E Vice President Fong Wan says prices in last week's deal approach electricity from natural-gas-fired plants. "The cost has come down to a point where we're comfortable doing it," he says.

Prices for solar-generated electricity have been falling, thanks largely to increasing manufacturing capacity and technological improvements, SunPower's Julie Blunden says. Other recent deals:

•Building farms. Florida Power & Light and Sempra Generation, a power wholesaler, each plan to build solar farms of up to 25 megawatts in Florida and Nevada, respectively.

•Purchasing power. CPS Energy in San Antonio, Duke Energy in North Carolina and Florida Municipal Power Agency say they'll buy solar power from suppliers willing to invest in new generation. That avoids upfront construction costs for utilities.

•Installing panels. Utilities are putting panels that feed into the grid on neighborhood roofs. That sidesteps the need for costly transmission lines. Southern California Edison last week began placing panels on 100 warehouses in the Los Angeles area. Duke Energy, Long Island Power Authority and Portland General Electric in Oregon plan similar initiatives.

With costs for traditional power plants rising and solar falling, "We see a convergence coming," Duke executive Owen Smith says.

[waxweazle]

Nice post!!
its adding time!!

one weds we will see the q´sss

[waxweazle]

 

[AussieTrader]

I think SOLF is a great opportunity as many Solar stocks are.

My one short term concern for SOLF though is that it has had such a great pre earns run that it will probably get sold on the news when results are out, that said it may present a great entry opportunity if that were to happen.

Good luck those trading SOLF.

[waxweazle]

 

[waxweazle]