LOS ANGELES (Reuters) – Fledgling solar power companies looking to grow beyond their venture capital roots are increasingly catching the eye of deep-pocketed corporate investors.
For many start-ups, rounds of venture or private equity funding are thought of as stepping stones on the way to an initial public offering — the ultimate corporate symbol of having arrived.
VIENNA/LOS ANGELES (Reuters) – California air quality officials said on Friday they saw no elevated radiation levels on the U.S. West Coast from Japan’s nuclear power plant disaster.
“At this point we’re unable to verify if there are any elevated levels,” said Ralph Borrmann, a spokesman for the Bay Area Air Quality Management District in San Francisco. “We’re not seeing it on our live data in California.”
LOS ANGELES (Reuters) – China’s LDK Solar Co Ltd repeated its 2011 revenue outlook, disappointing some investors who had been hoping for more following a stellar earnings report, and sending the company’s shares down 4 percent after hours.
The company also said some customers in Italy were holding back on orders until that nation’s new solar subsidy structure is clarified in the coming weeks.
LOS ANGELES, March 17 (Reuters) – China’s LDK Solar (LDK.N: Quote, Profile, Research, Stock Buzz)
reported quarterly earnings and revenue on Thursday that far
exceeded analysts’ expectations due to demand for solar power
The company has benefited from making the industry’s key
raw material, polysilicon, as well as selling its own modules.
Its products such as wafers and cells are used to build
photovoltaic solar panels that turn sunlight into electricity.
LOS ANGELES/FRANKFURT (Reuters) – Investors who went on this week’s green energy buying binge because of Japan’s nuclear crisis may be in for a painful hangover.
Japan’s race to avert a meltdown at a tsunami-wracked nuclear power plant was viewed as a rallying cry to some supporters of renewable energy, triggering a debate about whether the power source is a safe and viable form of emissions-free energy.
LOS ANGELES (Reuters) – LED industry supplier Rubicon Technology Inc (RBCN.O: Quote, Profile, Research, Stock Buzz) is seeing increased demand from Japanese customers because of supply disruptions after the massive earthquake there, according to its chief executive.
The company’s shares ended 1.4 percent higher, while the broad market fell about 2 percent in reaction to the troubles in Japan.
LOS ANGELES (Reuters) – Utility meter maker Itron Inc does not expect the U.S. government to deploy any more funds to develop the so-called smart grid, Chief Executive Malcolm Unsworth said in an interview.
In the last two years, the $787-billion U.S. economic stimulus package gave a crucial boost to the smart grid, which aims to make the power grid more efficient.
LOS ANGELES, March 15 (Reuters) – Californians have long
had an uneasy relationship with their two nuclear power plants,
and the crisis in Japan raises new doubts about how long
nuclear power will survive in the earthquake-prone state.
The first test of the Golden State’s support for nuclear
power is coming soon, as the nuclear plants perched on the
scenic but fault-laden California coastline since the early
1980s begin the process for 20-year license renewals.
LOS ANGELES, March 10 (Reuters) – U.S. solar company Energy
Conversion Devices (ENER.O: Quote, Profile, Research, Stock Buzz) said it was slashing production for
the current quarter because cutbacks in French and Italian
solar subsidies have put projects there on hold.
The company’s shares slid more than 22 percent in extended
trade following Thursday’s announcement. It said the stalled
projects could impact as much as half of its expected revenue
for the fiscal third quarter.
LOS ANGELES (Reuters) – Suntech Power Holdings Co Ltd, the world’s top solar panel maker, posted sharply higher quarterly earnings due to a better-than-expected 62 percent rise in revenue and a $250 million increase in the value of certain project investments.
The Chinese company’s shares rose 3 percent in extended trade following the announcement.