Solar stocks on the U.S. markets surged across the board today.
First Solar (NASDAQ: FSLR) closed at $119.34, up an unbelievable 23.95% (after an already torrid year!--it has quadrupled since the start of the year) in the wake of announcing 5 new contracts worth $1.3 billion, its board approval of new a new Malaysian plant.
Trina Solar (NYSE: TSL) closed at $67.37, up 16.0%, on the announcement of several contracts to supply European customers with 99 MW worth of PV modules over the next 2-3 years.
JA Solar (NASDAQ: JASO) surged 14.8% to $42.76 after announcing that it has commenced production on four additional 25 MW per annum solar cell production lines in its Ningjin, Hebei, China site increasing its manufacturing capacity from 75 MW to 175 MW per annum.
The combined news created for a bullish sentiment across the solar board, lifting up other solar stocks which did not have any announcements of their own, including Yingli Green (NYSE: YGE, up 15.9%), Solarfun (NASDAQ: SOLF, up 11.4%), Hoku Scientific (NASDAQ: HOKU, up 13.7%), Canadian Solar (NASDAQ: CSIQ, up 8.9%), LDK Solar (NYSE: LDK, up 8.5%), Evergreen Solar (NASDAQ: ESLR, up 6.1%) and Suntech Power (NYSE: STP, up a "mere" 4.1%).
As a Forbes article explains, First Solar and Trina Solar's new contracts target end users in France, Germany, Italy, Spain, Portugal and Canada, among others, reflecting the continued growth of solar in these markets as the European Union and the Canadian province of Ontario enact legislation and standards to replace their fossil fuel based energy sources with renewable power.
Full Disclosure: The author owns some shares in First Solar and Suntech Power.