LOS ANGELES (Reuters) – French energy company Total SA offered to pay up to $1.37 billion for a majority stake in U.S. solar company SunPower Corp, a bid by the oil and gas giant to become a major player in solar power.
Solar power has been one of the fastest growing energy industries in recent years, but still remains tiny compared with oil, gas and coal.
LOS ANGELES, April 28 (Reuters) – Solar startup Nanosolar
Inc on Thursday announced supply agreements with three European
developers, the latest step toward the thin film company’s goal
of becoming competitive with traditional panels.
The company signed supply deals that combined could be
worth up to a gigawatt of solar panels with French utility EDF
Energies Nouvelles SA (EEN.PA: Quote, Profile, Research, Stock Buzz) and German project developers
Plain Energy and Belectric.
LOS ANGELES/FRANKFURT (Reuters) – For solar panel makers, rising raw material costs and a looming cut in government support for solar power in Italy are likely to upstage first-quarter numbers, when the world’s largest solar companies begin reporting their quarterly results next week.
For months, investors have fretted about an expected change in solar energy incentives in Italy, a market that exploded last year due to generous government support.
LOS ANGELES, April 25 (Reuters) – Solar power company
BrightSource Energy Inc filed with U.S. securities regulators
for an initial public offering of up to $250 million, a major
step toward what is likely to be one of the hottest clean
technology market debuts of the year.
BrightSource, which is building a massive solar thermal
power plant in the California desert, said it plans to use the
proceeds from the sale for capital expenditures and working
SANTA ANA, California (Reuters) – Mattel Inc (MAT.O: Quote, Profile, Research), after waging a seven-year legal war against a tiny California company, suffered a surprise defeat on Thursday after a U.S. jury decided that MGA Entertainment Inc is the rightful owner of the once-billion dollar line of pouty-lipped Bratz dolls.
The astonishing loss for the world’s largest toy maker is the latest development in a case that began in 2004, when MGA’s line of dolls was all the rage among young girls. Mattel accused Van Nuys, California-based MGA of stealing its designs by hiring away a key employee.
SANTA ANA, California (Reuters) – A U.S. jury on Thursday found toy maker Mattel misappropriated trade secrets from MGA Entertainment relating to the Bratz doll line and awarded MGA $88.5 million in damages in what appears to be a stunning reversal of legal fortunes.
The battle over who owns the pouty-lipped Bratz dolls has been raging since 2004. A federal jury in 2008 ordered MGA and its chief executive Isaac Larian to pay Mattel $100 million, but a federal appeals court threw out that ruling last year.
SANTA ANA, California (Reuters) – A U.S. jury found Mattel Inc (MAT.O: Quote, Profile, Research, Stock Buzz) misappropriated trade secrets from MGA Entertainment relating to the Bratz doll line, and awarded MGA $88.5 million in damages.
The legal battle over who owns the pouty-lipped Bratz dolls has been raging since 2004. A federal jury in 2008 ordered MGA and its Chief Executive Officer Isaac Larian to pay Mattel $100 million, but a federal appeals court threw out that ruling last year.
LOS ANGELES (Reuters) – Solar module prices could fall as much as 20 percent this year due to an excess of supply in the market, the chief executive of solar project developer Recurrent Energy said on Wednesday.
Solar modules currently sell for between $1.40 and $1.50 each, Recurrent CEO Arno Harris said in an interview and should come down to a range of $1.20 to $1.30.
LOS ANGELES, April 19 (Reuters) – LED maker Cree Inc
(CREE.O: Quote, Profile, Research, Stock Buzz) reported a quarterly profit that missed Wall Street
estimates and forecast lower-than-expected earnings in the
current period due to high inventories and falling prices.
Cree shares fell over 7 percent in extended trade.
Canaccord Genuity analyst Jed Dorsheimer said he expected
to see further declines in both Cree’s gross margins and share
price before prices on LEDs come down far enough for the
lighting portion of the market to take off.
LOS ANGELES (Reuters) – Soaring oil prices are turning some energy companies into accidental environmentalists: They are building clean, solar-powered systems to pull crude out of their aging wells.
But this is no public relations move by big polluters seeking to green their images. Having spent heavily on energy-intensive technology to increase output from depleted fields, companies including Chevron Corp (CVX.N: Quote, Profile, Research) and Berry Petroleum Co (BRY.N: Quote, Profile, Research) are using solar power to lower the cost of creating steam that is injected into the wells to improve the flow of heavy oil.