Sunedison errichtet Silikon-Fabrik in Saudiarabien
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The proposed project, entailing the production of polysilicon through modules, would support the growth of the solar energy industry in the Kingdom, and is consistent with SunEdison's long term strategy to:
Develop attractive new markets to fuel SunEdison and industry growth,
Maximize the value of our installed systems via the most cost competitive inputs, enabled by SunEdison's proprietary technology, and
Improve our balance sheet through an equity light approach, again leveraging our proprietary technology.
This, and other deals like it, are designed to enable SunEdison's long term, downstream growth aspirations, which require significant supply capacity, accomplished in an asset light, balance sheet amenable way.
The complex would utilize both SunEdison's proprietary high pressure silane fluidized bed reactor (HP-FBR) polysilicon, and continuous Czochralski (CCz) crystal ingot technology and equipment, as well as include solar wafer, cell and module manufacturing, employ attractive debt financing for the approximately $6.4B project, and would begin production in 2017, ramping to 3 GW (gigawatts) annually. A significant percentage of polysilicon and ingot production would support the 3 GW planned module output, with the remaining crystal production addressing the market with a substantial cost advantage. Demonstrating strong support, the Ministry of Petroleum and Minerals pointed out it will provide the required quantities of natural gas, and the Saudi Electrical Company (SEC) will provide the needed power requirements for the project.......http://www.prnewswire.com/news-releases/...audi-arabia-243481151.html
http://ca.finance.yahoo.com/news/...-solar-project-u-k-051000416.html
The Missouri company, whose shares are up 44% for the year to date and currently trade around $19, is a major player in semiconductor and solar technology industry, its chips business a path breaker in the design and development of silicon wafer technologies for over half a century.
With operations in the U.S., Europe, and Asia, the solar business of the company formerly known as formerly MEMC Electronic Materials produces, finances, installs and operates distributed power plants for commercial, government and utility customers.
Despite the stellar run in the stock, we think there is significant upside in SunEdison, as do Goldman Sachs, Deutsche Bank, Credit Suisse and Needham. All these analysts raised their target prices on the company Wednesday.
According to IHS and GTM, the solar photovoltaic (PV) market will increase its annual installations from 39 GW in 2013 to 118 GW in 2020, a 17% compound annual growth rate. SunEdison is the third-largest player in the market with 2013 solar installations at 542 MW and 2013 revenue of $2.5 billion.
SunEdison's focus on both technology, via its semiconductor business and downstream business makes it the largest player with a flexible business model able to offer multiple solutions rather than just focusing on the utility segment. Its strengths will see SunEdison's global completions double in 2014, from 542 MW in 2013 to between 900 to 1,150 MW in 2014. This growth should continue for the foreseeable future, SunEdison has a strong backlog of 3.4 GW and expects global completions to increase to over 1,500 MW in 2015 and over 2,000 MW in 2016.
SunEdison also has a large opportunity in providing electricity to rural areas. According to a recent report, the market for providing electricity to rural areas globally is around $40 billion annually. In addition, there is a $200 billion market for solar pumps for irrigating in emerging countries. There are thousands of such rural areas where efficient players in the solar space will benefit from this need. SunEdison secured the first project in India in 2010 and now operates in eight Indian states besides expanding into Thailand and Malaysia.
SunEdison has a very strong management team. In addition, with financing so important in the solar industry, the company created its own financing firm, SunEdison Capital, which created the first sale-leaseback fund and many more innovative financing solutions. http://www.thestreet.com/story/12459071/1/...tting-on-sunedison.html?
SunEdison, one of the largest solar technology manufacturers in North America, is finally breaking into UK territory. The company announced on Wednesday that it had closed a non-recourse debt financing agreement with Deutsche Bank, with the proceeds of the deal being used to finance four PV projects in the UK.
The four projects, which are currently being built in Wiltshire, North Devon and on the Essex/Suffolk border, are expected to be operational by the end of March 2014......Once the four projects are completed, they will be managed by the SunEdison Renewable Operation Centre (ROC), which will both monitor and report on the performance of the solar power plants.
SunEdison also announced that Foresight Solar Fund Limited, an investment company managed by Foresight Group, will obtain the portfolio of projects once interconnected through a share purchase agreement (SPA).
http://finance.yahoo.com/news/...anufactures-over-1-gw-120000639.html
However, we believe SunEdison will benefit from the rise in demand for solar energy and the semiconductor business IPO (initial public offering) should further enable it to concentrate on its core competencies. Moreover, its recent partnerships and cost reduction initiatives are expected to expand margins.
Moreover, another good sign is the growth of the solar market (PV installations) across the U.S., China, Japan, India, Middle East, Africa, Latin America, Australia and Southeast Asia. The surge in demand from these regions could mitigate lower demands in Europe, thus helping the global solar industry to grow....http://finance.yahoo.com/news/...arch-report-sunedison-215005436.html
According to a recent survey by market research group IHS, global PV installations are set to rise from 3.2 MW in 2012 to 2.3 GW in 2017. As a result, the shares of PV installments in the commercial segment will increase from 5.0% in 2012 to 40.0% in 2017.
Additionally, SunEdison’s plan to spin off its semiconductor businesses into a separate entity via an IPO will help it to emerge as a pure-play solar project developer — its core segment — and bode well for the future. Moreover, reduction in debt level will deleverage its balance sheet.
+10,5%
The funding from Germany’s biggest lender will be used for two solar farms in Ontario with a total of 33 megawatts of capacity that are expected to be complete by the end of the year, St. Peters, Missouri-based SunEdison said today in a statement. Terms weren’t disclosed.
SunEdison has raised more than $6 billion for renewable-energy projects worldwide, and has completed more than 130 megawatts of solar farms in the Canadian province.
Einhorn schätzt den Wert der Aktie auf $35
www.bloomberg.com/news/2014-04-23/...for-ontario-solar-projects.html?
First Quarter 2014 Highlights:
GAAP revenue of $546.5 million and GAAP EPS of ($2.31)
Non-GAAP revenue of $577.6 million and non-GAAP EPS of ($0.25)
Solar Energy non-GAAP revenue related to 76 MW of solar energy systems, 74 MW of solar energy systems retained and 463 MW under construction at quarter end
Solar project pipeline grew to 3.6 GW and backlog was 1.0 GW at end of quarter
Closed $150 million of a $300 million non-recourse revolving construction facility
Closed $250 million non-recourse facility for portfolio acquisitions
SunEdison, Inc. (NYSE: SUNE) today announced financial results for the 2014 first quarter which reflected continued progress in solar projects retained in its Solar Energy segment and sequentially improving volumes in its Semiconductor Materials segment. Solar pipeline grew sequentially, and gross additions were 323 MW.
http://www.marketwatch.com/story/...7-on-yieldco-ipo-news-2014-05-29?
Summary
SunEdison is making a number of impressive moves to grow the business, a fact that reflects in its recent results.
SunEdison's decision to retain more projects should help the company create long-term value for shareholders.
Prospects in the solar industry are also quite bright, which means that SunEdison has strong tailwinds behind it.
A strong pipeline and solid earnings growth projections make SunEdison a long-term buy.
Solar company SunEdison (SUNE) has been soaring in 2014. The stock has gained an impressive 52% so far, .....
Going forward, the company expects its performance to improve further on the back of its impressive strategies. SunEdison's project completions are going in line with its guidance metrics. It has grown its megawatts at a rate greater than 90% per year since 2009. Also, in the first quarter, it completed 150 megawatts of solar projects, in line with its target. SunEdison also secured two important debt facilities in the first quarter, which will help it grow through the year and allow it to continue to maximize value through retaining projects.
Currently, SunEdison has more than 450 megawatts under construction, and it is seeing significant demand in the market for its projects. Moreover, the company's diversified pipeline has grown and now stands at 3.6 gigawatts, up by about 170 megawatts from last quarter.
Going forward, SunEdison plans to optimize value per watt and increase shareholder value by retaining certain value projects on the balance sheet. During the first quarter, it retained 74 megawatts on its balance sheet, in addition to the 127 megawatts it retained in the fourth quarter. By holding the projects, SunEdison is retaining more value, so it retained megawatts above its guidance during the quarter. Cumulatively, SunEdison has retained a total of 240 megawatts worth of projects.
....Additionally, construction activity for new projects remained strong, with over 460 megawatts under construction at the end of the quarter. It added about 80 new projects in diverse markets, such as the U.S., Japan, the U.K., India, Latin America, and Canada, to its pipeline.
Moreover, SunEdison's pipeline is well-diversified, with 47% in North America, 27% in Europe and Latin America, and 26% in emerging markets such as South Africa, the Middle East, and Asia. Its pipeline is also diversified by project size. About 16% of its pipeline consists of projects that are generally smaller than 10 megawatts; mid-sized projects between 10 megawatts and 50 megawatts represent 34% of its pipeline; projects between 500 and 100 megawatts account for 28%; while products over 100 megawatts were 22% of the pipeline.
..Fundamentals and projections
SunEdison looks quite expensive at a forward P/E of 140. However, investors should keep in mind that it is a high-growth stock that's expected to grow at a rapid rate going forward. SunEdison's earnings are expected to grow almost 60% this year, followed by a 140% jump next year. .....
http://seekingalpha.com/article/...14-sunedison-still-has-more-upside
http://seekingalpha.com/news/...-upbeat-on-yieldco-potential?uprof=46
http://seekingalpha.com/article/...3-tearing-down-sunedisons-spin-off
Last week, SunEdison (SUNE) filed an S-1, officially announcing its long-awaited spin-off of its solar project business. The solar project business, also known as a downstream business, is SunEdison's business unit that owns and operates its solar projects.
.....
SunEdison, IDB, OPIC and CorpBanca Close US$ 190 Million Project Financing for one of the Largest Merchant Solar Power Plants in Latin America
This deal consolidates the leadership position of SunEdison in Latin America.........
Interconnection of the 72.8 MWp plant is expected to take place during 2014. Once completed, the project, called "Maria Elena" and located in the Antofagasta region, is set to become one of the largest solar photovoltaic merchant power plants in Latin America and one of the largest in the world. SunEdison will own and operate the plant as part of its ongoing strategy to maximize retained value. .....
GAAP revenue of $646.2 million and GAAP EPS of ($0.16)
Non-GAAP revenue of $557.5 million and non-GAAP EPS of $0.12
Solar Energy non-GAAP revenue related to 54 MW of solar energy systems
164 MW of solar energy systems retained on the balance sheet and 475 MW under construction at quarter end
Solar project pipeline grew to 4.3 GW and backlog increased to 1.1 GW at end of quarter
Raised $600 million through a convertible senior note offering
Completed SunEdison Semiconductor initial public offering and related transactions
............
http://www.bizjournals.com/kansascity/prnewswire/...4/08/07/NY85705..
NEW YORK (TheStreet) -- Shares of SunEdison (SUNE) are up 6.87% to $16.64 in pre-makret trade after the solar company said it's in talks with a Chinese company about investing as much as $2 billion to build a polysilicon factory in China, according to Bloomberg.
The plant will have "the lowest cost" in the industry if it's in China, SunEdison President Ahmad Chatila told Bloomberg. The cash cost for making the commodity used in solar panels will be less than $6 a kilogram, about $2 below the next lowest competitor, he said.
The plant will have a capacity of about 20,000 to 30,000 metric tons a year with ultra-fluid-bed-reactor technology, Chatila said. SunEdison, currently has polysilicon capacity of 17,000 tons and is also considering a plant in Saudi Arabia, Chatila added.
Einhorn said the stock is currently priced incorrectly, according to a Business Insider source at the conference, which is closed to the press. Several CNBC reporters also tweeted the news.
Einhorn, the founder and president of Greenlight Capital, added to his hedge fund's position in SunEdison during the second quarter of this year and ended the month of June with nearly $500 million in shares.
http://www.thestreet.com/_nasdaq/story/12920003/1/...sing-today.html?
http://www.digitaljournal.com/pr/2340107
SunEdison to become world's largest renewable energy development company
Enters U.S. wind market, doubling total addressable market
8.0 GW increase of total pipeline, backlog and leads
Immediate value creation for SunEdison and DPS accretion for TerraForm Power
SunEdison raises 2015 installation guidance from 1.6-1.8 GW to 2.1-2.3 GW and accelerates timing of IDRs by approximately one year
TerraForm acquires 521 MW of operating wind and solar power plants with $72.5 million in CAFD
TerraForm raises 2015 dividend guidance to $1.30 per share, an increase of 44%
Transaction financing fully committed, drop down growth funding secured
$2.4 billion of committed bridge financing to fund transaction
$1.5 billion of non-recourse capital secured from six global banking institutions and First Reserve Infrastructure to fund growth
SunEdison, Inc. (NYSE: SUNE), a leading global solar developer, and TerraForm Power, Inc. (Nasdaq: TERP), a global owner and operator of renewable energy power plants, today announced that they have signed a definitive agreement to acquire First Wind, one of the leading developers, owners and operators of wind projects in the U.S.
With the purchase, SunEdison acquires the leading independent wind development and asset management company and becomes the leading global renewable energy development company. As a result, SunEdison raises its 2015 project installation guidance from 1.6-1.8 GW to 2.1-2.3 GW. ....
Read more: http://www.nasdaq.com/press-release/...l-20141215-00223#ixzz3MCR8qzw1
Summary
Solar projects added 6.3 GWatts of energy to the U.S. grid last year, and will add 8.5 GWatts more in 2015.
Four companies have emerged as leaders, with solid capital bases and interesting business models.
Right now, utility-scale solar works best.
Despite critics who insist it can't scale, solar energy has been climbing the "wall of worry" this entire decade, and that effort is showing results.
During 2014, 6.3 GWatts of solar power was installed in the U.S., 32% of all new generating capacity. Solar has not displaced natural gas as the "fuel of choice," and California still dominates the industry, with more than half the market, but the sector now employs over 173,000 people and that number continues to grow.
The boom has shaken out into four solid companies worth considering as investments.
First Solar (NASDAQ:FSLR) leads in "thin film" panels, and pioneered the utility business model. SolarCity (NASDAQ:SCTY) pioneered the residential model, but has now expanded into panel and battery production under the leadership of two of Elon Musk's cousins. SunPower (NASDAQ:SPWR), majority-owned by France's TOTAL (NYSE:TOT) oil conglomerate, sports the most efficient silicon panels in the market. SunEdison (NYSE:SUNE), which was born of a small sub-assembly company, is also getting into energy storage and bringing utility-scaled solar to the world stage.
Right now, utility-scale solar is eclipsing residential production because large projects add to a utility's capital, they're cheaper per megawatt because they're scaled, and the financing models are clear. That's why SunEdison and First Solar are both up over 10% over the last year.Despite this success, despite the coming of business models like community solar, panels that power what they're attached to, and new technologies like printed cells, you'll still read stories like this one in Scientific-American, wringing its hands over solar's potential death spiral as tax credits expire in 2016.
Some of the opposition is overtly partisan. Fossil fuel companies fund many conservative grassroots organizations. Some of it is institutional. Utilities that are happy to buy large projects moan that rooftop solar puts unbearable financial burdens on them.
But that doesn't matter. Solar will be able to go head-to-head with fossil fuels even if oil falls to $10/barrel, according to a study funded by Abu Dhabi, which has no reason to lie about the industry's potential....
Financing is continuing to flow into residential solar, despite political opposition. International expansion in India and China is creating ever larger scaling. Costs are going to keep declining and those who can't keep up are going to be shaken out. So far, the largest U.S. producers all appear well managed, with comprehensible strategies and ample capital.
....
The industry expects to install 8.1 GWatts of new power in 2015, which goes on top of all that other power in utility industry calculations.
Solar is a rising tide that's a thumb on the scale of other energy costs, and it's not going away.http://seekingalpha.com/article/2988896-solar-climbs-the-wall-of-worry