NEW YORK, NY -- (Marketwire) -- 06/14/12 -- Solar stocks rebounded sharply Tuesday as First Solar Inc. stated that demand from Europe has grown unexpectedly. First Solar has delayed the closing of a German plant to meet unexpected demand in Europe. "First Solar's comments fit in with what several Chinese companies have also been saying, which is that demand remains strong," stated David Smith, the portfolio manager of Gabelli Green Fund. Five Star Equities examines the outlook for companies in the Solar Industry and provides equity research on LDK Solar Co. (NYSE: LDK) and Trina Solar Ltd. (NYSE: TSL).
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Last week Bloomberg reported solar panel makers were boosting production in 2012 as demand in China was expected to double as the $36 billion market shifts from Europe to Asia. According to estimates compiled by Bloomberg shipments from the five biggest producers of polysilicon solar modules are expected to rise 27 percent to 37 percent, with China's Suntech Power Holdings Co. and Yingli Green Energy Holdings Co. leading the way.
Bloomberg New Energy Finance predicts that China, who trails only Germany and Italy in new installations, will become the top solar market in 2013 as subsides for new projects are being cut by European nations. "Europe is going down and Asia is going up," said Matt Feinstein, an analyst at Lux Research Inc.
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LDK recently announced that the company has signed three multi-year engineering, procurement, and construction (EPC) agreements. All three projects are located in the Gansu province of the People's Republic of China. "We are pleased to continue to expand our presence in China's solar industry through these projects," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "These contracts demonstrate continued demand for PV project development services within China."
Trina Solar Limited is an integrated solar power products manufacturer based in China with a global distribution network covering Europe, North America and Asia. The Company has entered into framework agreements with local municipal governments in China to develop multi-year power plant projects commencing in late 2012 and 2013.
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