With solar stocks feeling the burn lately, Hanwha SolarOne (HSOL) may be seeing a bump — up nearly 3% pre-market thanks to a supply deal that may give it another boom.
HSOL stock has nearly doubled so far this year — and up 10% over the past five days.
The supply deal that was announced today notes that it will supply 11.5 MW of high quality solar modules to Ikaros Solar Belgium NV (the “Ikaros Solar”). The modules are scheduled for delivery this month and next, with installation scheduled for a solar park in Norfolk County, United Kingdom.
Hanwha SolarOne will supply its 72-cell module HSL-72, characterized by excellent real-life performance and extended durability.
“In Hanwha SolarOne, we have found a partner that can ensure both high quality and financial stability,” said Yves Devis, CEO at Ikaros Solar. “The PV modules from Hanwha SolarOne have demonstrated high performance and durability in our past projects. With the improved features of the new HSL-module series providing further benefits, Hanwha SolarOne was a natural choice for our latest large-scale project.”
The project supply deal comes at a time when HSOL stock is already running strong.
HSOL stock is up 178% year to date — and other solar stocks are burning bright as well.
The average solar stock doubled in 2013, so investors who started out 2013 with them are reaping the gains, while there are tougher bargains to find now.
Hanwha SolarOne could be a smart play — if the deal further pushes HSOL upward.
In fact, global solar installation are projected by some to grow some 20% this year.
If HSOL loses steam, still other solar stocks are poised to see growth in 2014.
For instance, First Solar (FSLR) last year began accelerating medium and long-term growth via its partnership with General Electric (GE), as FSLR were given access to GE’s sales channels and distribution capabilities through the deal.
Hanwha SolarOne Co. is one of the top 10 photovoltaic module manufacturers in the world, providing cost-competitive, high quality PV modules.