Tuesday, April 7, 2009

SunPower To Build Plant For Xcel; FBR Cuts Ests; Shrs Off (SPWRA; XEL)

From Tech Trader Daily:

SunPower (SPWRA) this morning announced an agreement to build a 17 MW solar power plant in Alamosa, County, Colorado for Xcel Energy (XEL). SunPower said that when completed at the end of 2010, the plant will be “the second-largest high-efficiency solar PV power plant in North America.” The project is expected to create 200 jobs during the construction phase.

The deal is contingent on approval of the Colorado PUC and project financing.

Meanwhile, Friedman Billings Ramsey analyst Mehdi Hosseini this morning chopped his EPS estimate on SunPower this morning to reflect continued erosion of average selling prices....MORE