MEMC Gains On Solar-Power Deal In South Korea

Date : 09/10/2010 @ 9:32AM
Source : Dow Jones News
Stock : Sunedison, Inc. (PN) (SUNEQ)
Quote : 0.0329  -0.0011 (-3.24%) @ 4:05PM

MEMC Gains On Solar-Power Deal In South Korea

MEMC Electronic (NYSE:WFR)
Historical Stock Chart

5 Years : From Jul 2012 to Jul 2017

Click Here for more MEMC Electronic Charts.

MEMC Electronic Materials Inc.'s (WFR) SunEdison solar unit reached a memorandum of understanding with a province in southeastern Korea for 400 megawatts of solar power projects.

Shares recently rose 1.8% premarket to $10.88. The stock is down 21.5% this year, similar to declines by some other semiconductor-related companies.

The provincial government of Gyeongsangnam-do expects the projects will help meet its goal of obtaining 15% of its power from renewable energy sources by 2030. Demand for solar efforts has rebounded this year, fueled in part by governments aiming to reduce carbon emissions and reduce reliance on fossil fuels.

The Korea projects are slated for public lands and building rooftops and are set for completion by the end of 2013.

MEMC in July posted a second-quarter profit--its first quarterly profit in a year--on gains and sales growth, though earnings of the maker of solar wafers and semiconductor-related products fell short of Wall Street's views.

 
   -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com 
 
 
 

Latest SUNEQ Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.