Solar Winners & Losers: Suntech Sheds Gains

On Monday, Suntech Power(STP Quote) continued putting its stamp on the Chinese market when it announced a series of solar project deals with four local Chinese governments. The projects for the governments in Shaanxi, Shizuishan, Qinghai and Panzihua will total 1.8 gigawatts. Suntech, China's biggest solar concern, said the arrangements are still attracting investment and must meet a number of regulatory approvals.

"With ongoing investment in technology and innovation, Suntech is determined to continue to drive the cost to grid parity and encourage greater adoption of solar throughout China," Suntech CEO Dr. Zhengrong Shi said in a press release.

Though Suntech rose 4% on Monday, today found the company falling 3.4%, or 50 cents, at $14.42 in the afternoon.

Other solar shares having a rough go included First Solar(FSLR Quote) which was down 3.1%. SunPower(SPWRA Quote) and LDK Solar(LDK Quote) weren't doing much better, losing 3.7% and 2.4%, respectively, today.

Earlier Tuesday, LDK Solar said it acquired a controlling stake in Solar Green Technology, an Italian-based photovoltaic plant system integrator. The 70% stake will both expose LDK Solar to the Italian market, while helping SGT grow. No other financial details were revealed in the company's press release.

One bright spot on the day was Canadian Solar(CSIQ Quote), which saw its shares soaring 8.6%, or 87 cents, at $11.00.