That concludes our pseudo-mystical moment for today, now back to our regularly scheduled programming. From Clusterstock:
AmTech sees Trina Solar's (TSL) strength in Italy as a great sign for SunPower (SPWR) and other solar companies positioned to take advantage of growth in Italy:
TSL recently announced it has signed a sales agreement with ERGYCA Power Srl (subsidiary of GreenergyCapital SpA) for module sales in Italy. It is a 3 year fixed-price agreement for PV modules totaling $158M. Assuming a $3.75 ASP/w, it equates to 42MW of supply over three years. We view this as relevant given the entire Italian market totaled ~70MW in 2007.
We view this announcement as increased evidence the Italian market is continuing to gain traction in the 2H08 and beyond to help supplement any potential fall off in Spain post September 2008....MORE
As we pointed out in "Trina Solar Q1 Conference Call Transcript on the Currency Change (TSL)" Trina has a 26% market share in Italy and expect 25% of projected second half sales from same,
Viva Italia!
*As the herd moves off in search of tasty subsidies...
