RE: Great NewsUnfortunately, everyone seems to be taking this news as an order for 50MW of Sunergy's. If you read it closely, Sustainable is ordering the 50 MW from SRI who is building them for SET in Guelph, not the reverse, to fill their orders.
It is good news that they expect to sell those this year and it seems to quell the fears of not being able to ramp up to fill expected orders but I don't think it is what a lot here and the markets think.
The release is confusing. For instance, a subsequent release. This is either totally wrong or I am very confuzed. And that wouldn't be the first time. Meanwhile though, I have enjoyed a little profit taking this morning.
Shares of Sustainable Energy Technologies Ltd rose 35 percent after the Canadian solar energy company said it would supply power electronics circuits and build inverter units for a German firm. Sustainable Energy will build 10,000 50-megawatt Sunergy II inverter units over the next year in Ontario for the Canadian unit of Germany's SRI.