Seeking Alpha
 

SunEdison (SUNE)

- NYSE
  • Dec. 11, 2012, 5:01 PM
    Begun, the solar trade wars have. The Chinese government has reportedly made a preliminary decision to impose tariffs of 30%-50% on U.S., European, and South Korean solar polysilicon imports as of Q1. China recently launched a probe on the matter following the U.S. ITC's imposition of tariffs on Chinese solar module imports on anti-dumping grounds, and the start of an EU investigation that could lead to the same. MEMC (WFR) is a major U.S.-based polysilicon supplier. (price declines)
    | 2 Comments
  • Dec. 7, 2012, 6:27 PM
    Prices for just about anything solar-related continue to tumble. Digitimes reports the average price of cells with "mid-range" (16.2%-16.6%) efficiency has fallen to just $0.25-$0.30/watt - cell prices were around $0.48/watt at the beginning of Q3. Meanwhile, polysilicon contract prices have fallen to $17-$18/kg from $20/kg in Q3, putting it further below the variable cost of Western producers. The troubled industry received a piece of good news this week courtesy of the Indian government, which has set a goal of building 9GW of plants by 2017.
    | 4 Comments
  • Nov. 26, 2012, 2:32 PM
    Chinese solar polysilicon demand fell 34% in October, claims UBS; IHS iSuppli estimated last week polysilicon spot prices fell 9% on the month. Moreover, UBS expects polysilicon demand to remain weak in Q4 due to poor visibility for 1H solar module sales. Given the latest earnings reports from module vendors (I, II), it's hard to argue with that assessment.
    | Comment!
  • Nov. 19, 2012, 5:57 PM
    Solar polysilicon spot prices fell another 9% in October, estimates IHS iSuppli - that's the fastest rate of decline since February, and brings the total drop since that time to above 40%. Analyst Glenn Gu thinks a slight bounce will happen at the beginning of 2013, but still sees the overall supply/demand balance as unfavorable, and expects prices to start falling again later in the year. Polysilicon vendors MEMC (WFR +6.6%) and LDK (LDK +3.3%) rallied today, but 2012 still hasn't been kind to them.
    | Comment!
  • Nov. 9, 2012, 2:42 PM
    First Solar (FSLR +2.9%) and SunPower (SPWR +3.6%) continue to have a good week. Hopes are up that Pres. Obama's re-election will mean the DOE's strong financial support for U.S. solar projects will remain in place. MEMC (WFR +3.8%) is also rallying. (previous)
    | 2 Comments
  • Nov. 8, 2012, 12:29 PM
    Spot prices for solar polysilicon have plummeted to roughly $15/kg in China, according to Digitimes, while contract prices continue to hover around $20/kg. Those numbers suggest the losses incurred by local polysilicon vendors such as LDK and Yingli (YGE) are about to worsen. Western producers such as MEMC (WFR) have been estimated to have a variable cost around $25/kg. (anti-dumping probe)
    | 1 Comment
  • Nov. 8, 2012, 5:17 AM
    The ITC yesterday voted 6-0 that U.S. solar-panel manufacturers have been harmed by illegal dumping from their Chinese rivals, opening the way for the Commerce Department to impose tariffs. The department has said these will mainly be 24%-36%, although some face duties of up to 250%. North American firms in focus: SPWR, FSLR, CSIQ, WFR. China: JASO, CSUN, STP, SOLR, SOL, YGE, LDK, CSUN
    | 3 Comments
  • Nov. 7, 2012, 6:07 AM
    MEMC Electronic Materials (WFR): Q3 EPS of $0.30 beats by $0.42. Revenue of $708.9M (-17.5% Y/Y) beats by $203M. (PR)
    | Comment!
  • Nov. 7, 2012, 12:05 AM
    Notable earnings before Wednesday’s open: AES, AGU, ARIA, BDX, CLH, CNP, CTSH, CWH, DVN, ENB, FNP, GOLD, HFC, HSP, JRCC, LAMR, LEAP, M, MNTA, MPEL, NIHD, PRGO, SODA, SONS, STWD, TAP, THC, TICC, TWX, VICL, WFR, WLP, WRES
    | Comment!
  • Nov. 6, 2012, 5:30 PM
    Notable earnings before Wednesday’s open: AES, AGU, ARIA, BDX, CLH, CNP, CTSH, CWH, DVN, ENB, FNP, GOLD, HFC, HSP, JRCC, LAMR, LEAP, M, MNTA, MPEL, NIHD, PRGO, SODA, SONS, STWD, TAP, THC, TICC, TWX, VICL, WFR, WLP, WRES
    | Comment!
  • Nov. 6, 2012, 10:41 AM
    LDK Solar (LDK +6.9%) rallies all the way to $0.93 after announcing it will receive $33.4M to terminate a solar wafer supply agreement with Japan's Sumitomo. Much like rival MEMC's (WFR +1.9%) terminations, LDK's deal with Sumitomo unraveled because the huge price declines seen for solar wafers made the terms of the original deal uneconomical.
    | Comment!
  • Oct. 12, 2012, 1:53 PM
    Solar polysilicon prices, long in freefall, are likely to stabilize after falling another 6% by mid-2013, according to a Bloomberg analyst poll. Top polysilicon suppliers have stopped adding capacity, if not cut output, though Barclays estimates the industry's annual capacity still stands at 40GW-45GW, well above expected 2012 demand of 31GW. LDK Solar (LDK), Suntech (STP), and MEMC (WFR) have been hit hard by industry oversupply - LDK has been trying to lower its cost profile by restructuring.
    | 1 Comment
  • Oct. 11, 2012, 4:53 PM
    MEMC (WFR) +2.5% AH after adding 3 new board members, including Steven Tesoriere, co-founder of activist investor Atlai Capital. Atlai owns a sizable stake in MEMC, and has been demanding a board seat for months. The other additions (likely allied with Atlai) are Antonio Alvarez, COO of image sensor firm Aptina Imaging, and Jeffry Quinn, CEO of investment holding firm The Quinn Group. (PR)
    | Comment!
  • Oct. 10, 2012, 2:55 PM
    Wells Fargo (WFC) says it will provide financing for an 11.3 MW solar project being developed by MEMC Electronic's (WFR -6.6%) Sun Edison unit in New Mexico, the sixth Sun Edison utility scale solar project funded by WFC in the past year. El Paso Electric (EE) agrees to purchase the power supplied by the project for the next 25 years.
    | Comment!
  • Oct. 1, 2012, 9:52 AM
    MEMC (WFR +4%) opens higher after announcing it has closed on a $200M term loan, secured by nearly all of the company's assets. The loan carries a steep interest rate of LIBOR (minimum of 1.5%) + 9.25%, and features mandatory repayment provisions in the event of certain asset sales or new financing moves. MEMC had $1.8B in debt as of June 29, and has seen its cash flow situation deteriorate in tandem with its solar wafer sales. (S&P downgrade)
    | Comment!
  • Sep. 25, 2012, 4:35 PM
    MEMC (WFR -4.7%) rises 2.8% AH, winning back some of the day's losses, after announcing it has terminated a 10--year solar wafer supply agreement with Germany's Conergy. The agreement, signed in '07, featured pre-set prices. Since then, wafer prices have crashed, something MEMC says "created challenges" for the Conergy deal. MEMC will receive a $21.2M payoff as part of the termination, and will take over Conergy's operations/maintenance contracts for solar power plants.
    | Comment!
Visit Seeking Alpha's
SUNE vs. ETF Alternatives
Company Description
SunEdison Inc is adeveloper and seller of photovoltaic energy solutions, an owner and operator of clean power generation assets. The Company is also engaged in the development, manufacture and sale of silicon wafers to the semiconductor industry.