On Thursday, China Sunergy Co. Ltd. (NASDAQ:CSUN), and VTTI Energy Partners LP (NYSE:VTTI) both fall into the energy sector. Analysts have given CSUN a “Hold” rating, while VTTI is a “Strong Buy”.
The stock price for China Sunergy Co. Ltd. (NASDAQ:CSUN), has went down by over -14.09% in the last 200 days, and has been showing a steady downward trend. The company slipped a little at the stock market Thursday, when it traded down by -0.69% or -0.01 points hitting $1.46. In the last trading session, 72,705 shares were traded by the company. The 52-week low and high respectively for the company are $1.06 and $3.90. The company holds the market capitalization of $21.38M.
The firm released its latest news release today regarding winning of a bid to supply 260 MW of PV Modules to China Power Investment Corporation.
According to the news report, the firm declared that CEEG (Nanjing) Renewable Energy Co., Ltd, a partner of China Sunergy, has won a bid to supply 260 MW of PV modules to China Power Investment Corporation, a state-owned comprehensive energy group with a term of 12 months, starting from July 2015. The modules will be utilized by China Power Investment Corporation to construct a number of ground power projects in various locations across China.
Mr. Tingxiu Lu, Chairman and CEO of CSUN commented, We are delighted to provide our high-quality modules to China Power Investment Corporation, a leading solar energy developer. The winning of the bid demonstrates our ability and proven experience in supplying large-scale solar power plants. As the demand of solar energy products continuously grows in China, We expect the Company will further deepen its cooperation with China Power Investment Corporation, and we look forward to identifying and engaging similarly planned opportunities in both Chinese and overseas markets in the near future.
China Sunergy Co., Ltd., together with its auxiliaries, designs, develops, manufactures, and markets solar cells and modules in the Peoples Republic of China and internationally. It offers monocrystalline and multicrystalline silicon solar cells; and standard P-type solar cells, HP solar cells, and emitter cells, in addition to solar modules for use in a range of residential, commercial, industrial, and other solar power generation systems.
The other energy company in focus is VTTI Energy Partners, (NYSE:VTTI).
The net profit margin for VTTI Energy Partners, (NYSE:VTTI), is 15.90% with a weekly performance rating of 4.15%. The shares for VTTI traded at $21.33 about -0.49 points lower.
Today, VTTI Energy Partners has been informed by VTTI BV that Vitol Investment Partnership, an investment vehicle sponsored and managed by Vitol, has agreed to acquire MISC Berhads 50% shareholding in VTTI BV, which owns the general partner of VTTI Energy Partners, for cash consideration of $830 million, subject to certain conditions precedent. Vitol already owns 50% of VTTI BV. VTTI BV will continue to be run as an independent, standalone company under the leadership of CEO Rob Nijst.
Rob Nijst, CEO of VTTI BV and VTTI Energy Partners said: Since inception, we have developed an independent storage company supported by the financial strength and market insight offered by Vitol, the worlds largest independent energy trading company. We are confident that the proposition to our range of customers and our asset footprint will continue to improve and grow.
Ian Taylor, President & CEO, Vitol said: MISC has been an excellent partner over the last five years and we have greatly enjoyed working with them. Looking forward, we are very excited by VTTI BVs future potential. The administration team, led by Rob, has successfully grown and developed the business worldwide recently VTTI BV has total gross storage capacity of 54 million barrels, counting assets under construction. The terminals have an excellent HSE record and are structured and managed to accommodate the demanding requirements of the energy trading community.
VTTI Energy Partners LP is a United Kingdom-based limited partnership. The Company was formed by VTTI B.V. to own, operate, develop, and acquire refined petroleum product and crude oil terminaling and related energy infrastructure assets on a global scale.