DTE Energy Company (DTE) made a Request for Proposal to seek for qualified solar photovoltaic (PV) panel suppliers who can provide solar panels and logistics for the company’s solar energy installations.
DTE Energy is on the lookout for companies to help it build several large-scale solar energy projects in southeast Michigan. The company is seeking respondents who have significant experience in the engineering, development and installation of 150-kilowatt and larger solar energy systems.
The company is planning to install PV systems through 2014 at locations throughout its service area. In 2011, the company requires panels totaling 3 megawatts (MW). By 2014, the company expects to install panels up to 12 MW.
DTE Energy will own and operate the solar energy systems, which will be ground-mounted or installed on rooftops of commercial and industrial customers, or at its service locations. The electricity produced from the proposed solar energy installations will help the company to achieve Michigan’s new Renewable Portfolio Standard. The company currently has contracts to generate approximately 4% of its electricity from renewable energy sources. According to the Portfolio Standard, 10% of the company’s electric sales should be generated from renewable resources by 2015.
The present unfavorable macro backdrop, lower demand for electricity, the dismal Michigan economy and pending regulatory cases are headwinds for the stock. DTE Energy presently retains a short-term Zacks #4 Rank (Sell). We have a long-term Neutral recommendation on the stock.
In the near term, we would advise investors to accumulate its short-term Zacks #2 Rank (Buy rating) peers like EDP-Energias de Portugal, S.A. (EDPFY) and El Paso Electric Co. (EE).
Based in Detroit, Michigan DTE Energy, together with its subsidiaries, operates as an electric and natural gas utility company in Michigan. It also involves in non-utility operations. The company’s Energy Utility segment engages in the generation, purchase, distribution, and sale of electricity in southeastern Michigan. It generates electricity from various fuels, including coal, as well as from nuclear and hydro facilitates.
DTE ENERGY CO (DTE): Free Stock Analysis Report
EDP SA-SPON ADR (EDPFY): Free Stock Analysis Report
EL PASO ELEC CO (EE): Free Stock Analysis Report
Zacks Investment Research
