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Bankrupt Solar-LDK, Suntech, SunEdison

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I know they said the partner's role would be to bring (cheap) capital while JA would bring how to make cells. SUNE and JA had a JV cell factory in China, but all the trade tensions between US and China forced them to cancel that venture. JA bought out SUNE's share in the JV.

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In September China news media said JA and SUNE to JV in a 500 MW Solar cell plant in Texas I think the costs didn't add up. With SUNE named as Partner in Malaysia and with FSLR and SPWR having manufacturing there I think it would be hard to attempt tariffs on the JV production.

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In September China news media said JA and SUNE to JV in a 500 MW Solar cell plant in Texas I think the costs didn't add up. With SUNE named as Partner in Malaysia and with FSLR and SPWR having manufacturing there I think it would be hard to attempt tariffs on the JV production.

you're saying they won't impose tariffs on Malaysian built cells?

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you're saying they won't impose tariffs on Malaysian built cells?

If all they are doing is sending cells from Malaysia how can they? It's not circumventing the finished product, the same as they move the entire production facility to Malaysia, Malaysia becomes the Country of Origin & I don't think Malaysia is a Country the WTO would allow you to tariff.

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If all they are doing is sending cells from Malaysia how can they? It's not circumventing the finished product, the same as they move the entire production facility to Malaysia, Malaysia becomes the Country of Origin & I don't think Malaysia is a Country the WTO would allow you to tariff.

I guess they could tariff Malaysia but then they would need to tariff SPWR on their Solar cells coming from Malaysia.

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they called this a landmark deal.  comments?

 

also, said something about 200 MW-hours of storage in 2016-17; what does that mean?  they are installing 50 MW of storage; how much would 200 MW-hours rep?

major storage plus power deal for sune, also they acknowledge they are a financing group perhaps more so than a tech company.

 

http://finance.yahoo.com/news/sunedison-advanced-microgrid-solutions-join-110000603.html

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TerraForm Global IPO registration has been filed

IPO file

1.4GW now around 5.3GW ROFO potential, about $1.4B in 5 years of CAFD. That is a huge generation. 

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Continued SUNE pressure. Maybe market finally thinks they spend like STP and LDK, buy first do the risk analysis math later.

 

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Continued SUNE pressure. Maybe market finally thinks they spend like STP and LDK, buy first do the risk analysis math later.

 

Today seems to be the best indication yet of potential second guessing. High volume and against the tide on a strong day.

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Maybe SPWR is seen as a lot better than SUNE for big money now. Hopefully FSLR will top that. Sent from my HTC One_M8 using Tapatalk

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Looks like $6B of assets added, on $4B of debt. Rest sale of equity.  $173M in operating losses and $146M in interest on the top. No change in operating profile and no hope for one.  On the bright side expenses reversal in TERP causes to have it a profit. A bit a of light on the side of yieldcos expected to leak money on its infrastructure.

Smoke and mirror show on MW and plants is still looking like going to cover rotting flesh of the income statement.

 

 

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Listening to the call, not sure I got this right but the guy said solar is going through the roof in demand. Something about China wanting to install 800GW! By 2030, 60GW a year! 

crazy will have to check out transcript later today to verify...

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Listening to the call, not sure I got this right but the guy said solar is going through the roof in demand. Something about China wanting to install 800GW! By 2030, 60GW a year! 

This is a modest goal. I quickly calculate they will get there are 5% annual growth if ROW is fixed at 2015 levels. 

China will need 3000+ GW of power by 2030. 800 GW solar will only give 5 to 7% of net generation. It has always been about Terrawatts!! 

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RBC God awful on their picks lately...

"We have been receiving a lot of calls on today’s sell-off of SunEdison,” Mahesh Sanganeria at RBC Capital Markets said in a note to clients Thursday. “We expected the stock to react positively to earnings."

 

http://www.bloomberg.com/news/articles/2015-08-06/sunedison-posts-11th-straight-loss-amid-global-expansion-effort 

Edited by Pop2mollys

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I am suprised that Jobin thinks highly of SUNE, Sent from my HTC One_M8 using Tapatalk

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Also sounded like analysts we're getting tired of SUNE's model, especially JPM. But SUNE are sticking to their plan. 

It sounded to me that they were mostly just pissed SUNE does not need to sell more debt or equity in the near term...i.e. no margin for them this quarter.

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If one downloads the presentation of SUNE Q2, on the page 43 it has a simplified cash flow. Operating cash flow is negative $963M,  The total cash flow is $516M, where $3.8B comes from borrowing proceeds, reduced by $595M of payments on principle debt. They borrow to pay the interest, if operating cash flow is $1B negative. The only way company can float is by borrowing more and more to cover operating cash outflow and pay interest rates payments and due loans.

Now compare this to FSLR. I think this is what hit the market the hardest. FSLR showing clean crisp income statement and EPS gains from its yieldco transfer, EPS promise and SUNE, 11th quarterly loss and continuing losses to 2017, not sure what happens there as their development segment cannot pay or earn for itself.

Edited by odyd

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I agree it is very ugly, messy balance sheet.  But people were buying it like lemmings just a month ago...the company has more cash this q than last, (and a smaller loss) so whatever it is doing, it did it better this quarter than last.

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Disdaniel, yes, seems some folks suddenly decided to value SUNE in a different manner.  I did not think there was so much money behind the selling, but I was wrong.

Also, some powerful forces decided to jump on this and short the stock to hell.  I lost a great deal underestimating, again, the power of those wanting to send the stock down.  did this with CSIQ and SPWR and I will do it again.

Like CS said, SUNE executes well, and if you look at their projects under construction, it's obvious they are really changing the world.  I suspect that this is part of their philosophy; not just to make money but to build massive, massive amounts of renewable.

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The volume is even more crazy than yesterday and day before, it seems.  I would like to see the short interest for July 31, when it comes out.  I have to believe that it will be quite high.

That does not mean that all shorters have to cover quickly.  I believe some of them smartly covered on the way down and then shorted again and then covered, and so forth.  Safer way of driving the stock further and further down and not having a short squeeze.

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They are not yet finished.  Some entities really driving this down.  There is no liquidity issue if that is the question.  If they need cash, they could just sell the projects they have developed or have in development.  

They 

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I was thinking SUNE would be bought up, but nobody got suckered on disconnect story Sent from my HTC One_M8 using Tapatalk

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I was thinking SUNE would be bought up, but nobody got suckered on disconnect story Sent from my HTC One_M8 using Tapatalk

I was. Could not resist huge drop. A token (for me) position.

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