SunEdison sets Q1/2014 solar guidance, shares edge higher

|By:, SA News Editor

Ahead of its Capital Markets Day presentations (webcast), SunEdison (SUNE +0.5%) says it expects to complete 135MW-165MW of solar systems in Q1. Revenue will be recognized on 50MW-60MW, and 135MW-165MW will be retained on the company's balance sheet.

For the whole of 2014, SunEdison expects to complete 900MW-1,150MW of systems (+90% Y/Y), while recognizing 500MW-650MW and retaining 400MW-500MW.

The company forecasts an average Q1 price of $2.85-$3.10/watt, and an average full-year price of $2.25-$2.75/watt.

SunEdison, fresh off securing 100MW of Indian solar permits, also announces an 18MW solar plant in the Indian state of Tamil Nadu is now operational.

Shares ticked higher last week after SunEdison badly missed Q4 revenue/EPS estimates, but also reported strong backlog and retained systems growth.