Spain Energy Ministry Proposal for 500MMW 2009 Cap is Positive for the Group - Piper Jaffray Sep 11, 2008 11:50AM
Piper Jaffray analysts Jesse Pichel comments on solar stocks, saying the Spain Energy Ministry proposal for 500MMW 2009 cap is positive for the group. Pichel said, "While we expect final outcome by early October, we believe Spain will not be as weak as expected in '09, and that this proposal should help improve investor sentiment around Spain."
Pichel said he can confirm that the Spain Energy Ministry has sent a draft proposal (500MW cap in '09) to the State Council. He said although this proposal is in line with their March 5th note, it is a modest upside to 300MW consensus. He believes the 500MW '09 cap would be broken into 300MW for ground-mounted systems and 200MW for roof-top systems.
Pichel said the proposal still needs to be approved by the Spanish Economic Ministry which could take 3 – 4 weeks.
Related Stocks: Applied Materials Inc. (Nasdaq: AMAT), Energy Conversion Devices, Inc. (Nasdaq: ENER), First Solar, Inc. (Nasdaq: FSLR), Hoku Scientific, Inc. (Nasdaq: HOKU), SunPower Corporation (Nasdaq: SPWR), MEMC Electronic Materials Inc. (NYSE: WFR), Yingli Green Energy Holding Co. Ltd. (NYSE: YGE). |
