From the Wires
Solar Stocks Soar on the Announcement of $2.5 Billion Deal Between SunPower and Warren Buffett's MidAmerican Energy
The Paragon Report Provides Stock Research on SunPower and First Solar
By: Marketwired .
Jan. 4, 2013 08:21 AM
NEW YORK, NY -- (Marketwire) -- 01/04/13 -- Solar stocks have started the year with an impressive run after a dismal 2012. Solar demand in the U.S. looks to be on the rise as Warren Buffett's MidAmerican Energy Holdings has recently signed a $2.5 billion deal with SunPower for two solar power-generating plants. The Guggenheim Solar ETF (TAN) has surged nearly 20 percent in the past week. The Paragon Report examines investing opportunities in the Solar Industry and provides equity research on SunPower Corporation (NASDAQ: SPWR) and First Solar, Inc. (NASDAQ: FSLR).
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The 570-megawatt Antelope Valley properties acquired by MidAmerican Solar are expected to be completed by the end of 2015. "Together, the two combined projects will form the largest permitted solar photovoltaic power development in the world," stated SunPower. The deal follows MidAmerican's purchase of the 550-megawatt Topaz solar plant in California from First Solar in December 2011, which was estimate to be worth $2 billion. According to solar analyst Andrew Krulewitz of GTM Research in 2011 a total of 1.8 gigawatts of solar power was installed in the U.S., final totals for 2012 are expected to be around 3.2 gigawatts.
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SunPower has more than 1,000 megawatts of solar power plants operating worldwide, including the first 130 megawatts of the 250-megawatt California Valley Solar Ranch, which is under construction in San Luis Obispo County, Calif. Shares of the company have soared nearly 60 percent in the past week.
First Solar is a leading global provider of comprehensive photovoltaic solar systems which use its advanced thin-film modules. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. Shares of the company have rallied 11 percent in the past week.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.paragonreport.com/disclaimer
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