China Solar Shares Take A Hit As U.S. Imposes Import Tariffs

Tallahassee, FL 3/21/12 (StreetBeat) -- China solar stocks are trading lower after the Commerce Department on Tuesday said it will impose import tariffs on solar panels imported from China. The levies will range from 2.9% to 4.73%.

As the New York Times notes, the impact of tariffs that small on the market “could be limited,” but additional tariffs could be added in May when the Commerce Department will consider whether China is dumping solar panels in the U.S. at prices below cost.

• Yingli Green Energy (NYSE: YGE) is down 42 cents, or 9.8%, to $3.85.
• Trina Solar (NYSE: TSL) is down 59 cents, or 7%, to $7.79.
• Suntech (NYSE: STP) is down 29 cents, or 8.1%, to $3.28.
• Canadian Solar (Nasdaq: CSIQ) is down 22 cents, or 6%, to $3.43.
• JA Solar (Nasdaq: JASO) is down 9 cents, or 4.7%, to $1.81.

Interestingly, the U.S. solar stocks are also trading lower:

• First Solar (Nasdaq: FSLR) is off $1.42, or 5.2%, to $26.04.
• SunPower (Nasdaq: SPWR) is off 37 cents, or 5.1%, to $6.94.

The real issue for solar companies is not dumping by China, but rather collapsing prices and a glut of capacity as all players become more efficient. In the long run, the problems afflicting the solar sector are cross-border. This has turned into a rotten business for everyone concerned – other than energy consumers.

Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.

StreetBeat Disclaimer

Distributed by Viestly

Canadian Solar (Nasdaq: CSIQ) Selling Projects to TransCanada; Shrs Soar

Palm Beach, FL 12/20/11 (StreetBeat) -- Canadian Solar (Nasdaq: CSIQ) this morning said it has agreed to sell to TransCanada a collection of 86 MW of AC solar projects for about $470 million Canadian, which is equal to about $455 million in U.S. dollars.

Under the agreement, Canadian Solar will provider TransCanada with 9 fully operational utility scale solar projects in Ontario that are expected to come into service between late 2012 and mid-2013. Canadian solar will provide “turnkey engineering, procurement and construction services as well as being the supplier of major components to the projects.” All solar PV modules used in the projects will be manufactured at Canadian Solar’s manufacturing facility in Guelph, Ontario .

“This agreement with TransCanada is a true achievement for the solar industry in Canada , and an important milestone for Canadian Solar as we continue to expand our total solutions business to promote the expansion of solar power worldwide,” Canadian Solar CEO Shawn Qu said in a statement. “We are proud of our association with TransCanada, one of North America ‘s strongest and most successful energy infrastructure companies, which have chosen to partner with us for their entry into the Solar PV space.”

CSIQ on the news is up 54 cents, or 24.4%, to $2.75.

StreetBeat Disclaimer

Distributed by Viestly

Canadian Solar (CSIQ) Stock Chart Analysis

CSIQ has been in a solid downtrend since July. One green day does not make a reversal, but the two-day candle pattern is a bullish engulfing which will have technical traders on alert for confirmation today to strengthen the idea of a reversal in trend.

Distributed by Viestly