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SunPower Making a Big Move Into China

The sale of 70 MW of concentrator cell packages to a venture in China is a big move for SunPower.

By Travis Hoium – Apr 5, 2014 at 12:00PM EST

It's been tough for U.S. companies to break into the Chinese solar market, which is where Trina Solar (NYSE: TSL) and JinkoSolar (JKS +0.00%) are relying on growth to regain profitability. 

But SunPower (SPWR +0.00%) recently sold 70 MW of concentrator cell packages to a joint venture in China, part of 120 MW of projects the venture is building there. Not only is this a step into the Chinese market, it's a major step for concentrator solar, something First Solar (FSLR +3.15%) and others are looking into as well. 

In the video below, solar analyst Travis Hoium covers why he thinks this is a big move for a company that doesn't normally compete in China. 

Read Next

About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
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Travis Hoium manages an account that owns shares of SunPower and personally owns shares and has the following options: long January 2015 $5 calls on SunPower, long January 2015 $7 calls on SunPower, long January 2015 $15 calls on SunPower, long January 2015 $25 calls on SunPower, and long January 2015 $40 calls on SunPower. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Stocks Mentioned

First Solar Stock Quote
First Solar
NASDAQ: FSLR
$203.47
(+3.15%)+$6.22
JinkoSolar Stock Quote
JinkoSolar
NYSE: JKS
$22.91
(0.00%)+$0.00

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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