Solar companies feel fallout from Lehman bankruptcy

[phantom power]

Fallout from Lehman Bros. Holdings Inc. Sept. 15 bankruptcy filing is hitting the clean-tech sector.

At least three solar companies, including SunPower Corp. of San Jose, Evergreen Solar of Marlboro, Mass., and JA Solar Holdings Co. Ltd. of Shanghai, China, have issued statements in the wake of Lehman's bankruptcy about stock loans made to Lehman that could dilute earnings per share.

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Evergreen said Monday it lent a Lehman affiliate 31 million shares for hedging transactions in connection with the July issue of $373.7 million of convertible notes, while JA Solar said a stock loan to Lehman could dilute its earnings per share by 4.23 percent.

In late morning trading, SunPower stock was up 40 cents, or 0.57 percent, to $72.80. JA Solar shares rose 12 cents, or $1.20, to $10.56, while shares of Evergreen fell 47 cents, or 10.31 percent, to $4.09.

http://www.bizjournals.com/eastbay/stories/2008/09/15/daily32.html