- Though WTI crude is still below $46/barrel and the Nasdaq is only up 0.3%, beaten-down solar stocks are posting big gains (TAN +3.9%). Quite possibly helping: Pres. Obama has said the U.S. will help finance an Indian effort to install 100GW of solar capacity by 2022.
- The head of an Indian think tank estimates such an effort would cost $160B. India says it's seeking $100B worth of investments over 7 years. The country's bureaucracy/red tape has often stalled major foreign investments; the new government has repeatedly promised to change that.
- First Solar (FSLR +4.1%) and SunEdison (SUNE +4.1%) are among the companies to have struck deals for Indian solar projects. SunEdison has announced plans to invest up to $4B in an Indian solar manufacturing plant through a JV. First Solar and Trina (TSL +5.4%) are weighing plans to build their own local plants.
- Other notable gainers: SCTY +4.7%. JKS +7.5%. SOL +5.8%. SPWR +2.9%. CSIQ +4.6%. JASO +4.4%. RGSE +3.7%. OTC:ASTI +9.3%. HSOL +3.2%. DQ +3.7%.