Solar cell manufacturer
) made further inroads in the Japanese residential solar cell
market by extending its partnership with Toshiba. The two companies
joined forces to meet the growing demand for solar cells in Japan.
FIRST SOLAR INC (FSLR): Free Stock Analysis
PG&E CORP (PCG): Free Stock Analysis Report
SUNPOWER CORP-A (SPWR): Free Stock Analysis
To read this article on Zacks.com click here.
Toshiba has been working with SunPower since 2010 and has already
taken delivery of 70 megawatts (MW) of high-performance solar
panels. Per the new agreement, SunPower will be delivering another
100 MW of solar panels to Toshiba.
The Fukushima Daiichi nuclear plant disaster to a large extent
altered Japan's energy fuel mix for power generation. Prior to the
disaster nearly 13% of the power needs of the country were being
met by nuclear sources. However, following this disaster nearly all
the nuclear-based power plants were shut for safety and maintenance
reasons, which led to increased demand for other sources of power
Alternate, non-polluting energy, which had minimal contribution to
Japan's total power generation, suddenly gained prominence after
the accident. Besides, there has been a rise in both residential
demand for solar panels as well as large-scale commercial demand
for solar, supported by the Japanese government.
SunPower currently has a short-term Zacks #3 Rank (Hold rating).
Recently, one of its peers,
First Solar Inc.
) has entered into a purchase power agreement with a subsidiary of
). As per the contract, the former will sell 72 MW of solar
electricity from its two power plants to the latter.
San Jose, California based SunPower Corporation designs, develops,
manufactures, markets and sells high-performance solar electric
power technology products, systems and services worldwide for
residential, commercial and utility-scale power plant customers.
With a market capitalization of $0.57 billion, the company has
5,220 full time employees.