Strong Results For US Solar Tracker Maker Nextracker
Nextracker’s Backlog Swells up 90% To $2.6 Billion As Company Reports 5th Consecutive Profitable Year
Nextracker, a leading US based solar tracker supplier, ended FY 2023 (period ending March 31, 2023) with annual revenues growing over 30% to $1.9 billion and the company reporting its 5th consecutive profitable year while reaching a record backlog of $2.6 billion that jumped up 90% YoY.
Maxeon Meets Shipment & Revenue Guidance
Maxeon Fully Booked Through 2025; Revises FY 2023 Guidance Upwards After Healthy Q1/2023
Maxeon Solar Technologies delivered on its revenue and shipment guidance for Q1/2023 while exceeding that provided for adjusted EBITDA, gives it the confidence to increase full year 2023 revenue and adjusted EBITDA forecast as it also explores expanding its North American supply chain.
US Solar Panel Maker Expands To Europe For Next Gen Tech
First Solar Acquires Swedish Perovskite Solar Technology Company Evolar To Explore Tandem Devices
US cadmium telluride (CdTe) based thin-film solar panel manufacturer First Solar has acquired Sweden headquartered perovskite technology company Evolar AB which not only expands its R&D footprint but also shows concrete move to venture into next generation tandem devices.
FTC Solar Added $235 Million To Project Backlog
FTC’s Q1/2023 Quarterly Revenues Jump 56% As Company Narrows Down Net Loss To -$11.76 Million
Solar tracker supplier FTC Solar, Inc exited Q1/2023 with the addition of $235 million to its project backlog that increased to $1.4 billion as GAAP revenues increased 56% QoQ due to higher product volume, but dropped 17.5% YoY to $40.9 million due t.
US Solar Tracker Maker Reports Higher Shipments
Array’s Q1 Revenues Improved 25% YoY; Says Slowdown In Orders As Customers Wait For IRA Clarity
Solar tracker manufacturer from the US, Array Technologies improved its annual revenues for Q1/2023 by 25% to $376.8 million due to higher volume shipped and an increase in ASP due to ‘improved pass through pricing’ to the customers, but said its.
Growing PV Demand Boost Shoals’ Business In Q1
Shoals’ Revenues Soar With 55% Annual Increase As US Company Updates Annual Guidance
Shoals Technologies Group, the US based electrical balance of system (EBOS) supplier for the PV industry, has reported 55% annual increase in revenues for Q1/2023 with $105.1 million due to higher sales volumes for solar EBOS and combine-as-you-go sy.
US Utility Announces Massive Renewables Plans
AES Corporation To Triple Renewable Energy Capacity With Up To 30 GW New PV, Wind & Storage By 2027
US utility The AES Corporation plans to triple its renewable energy capacity with the addition of 25 GW to 30 GW of new solar, wind and energy storage capacity by 2027 and fully exit coal by 2025-end, as part of its long-term strategy for growth, con.
SolarEdge Reports Record Q1/2023 Revenues
Non-US & Europe Regions Boost SolarEdge’s Financials in First Quarter As Supply Chain Worries Ease
The year has begun with a bang for Israel based global solar PV inverter supplier SolarEdge Technologies, Inc as the company reported $943.9 million revenues for Q1/2023, with CEO Zvi Lando calling it a ‘record revenue quarter from our non-US, non-Europe region’.
French & Italian Cooperation For Utility-Scale Projects
Reden Solar & Energy 4 Synergy To Co-Build 300 MW Solar PV Portfolio In Italy’s Puglia By 2027
French solar power company and module manufacturer Reden Solar has entered a framework agreement with Italian solar PV systems developer Energy 4 Synergy (E4SY) to develop a minimum of 300 MW solar PV portfolio in Italy’s Puglia.
Solaria Energia Reports Strong Q1 In 2023
Spanish Solar Developer Pumps In Money On Project Execution, Including €115 Million In Q1
Solaria Energia y Medio Ambiente has started the year on a high note with its Q1/2023 revenues increased 23% annually to €44.7 million and EBITDA by 21% to €40.1 million while claiming it is on track to reach 3.08 GW capacity under operation and construction by summer 2024.
JinkoSolar Shipped 13 GW+ Solar Modules In Q1/2023
Demurrage Costs In US Put Pressure On JinkoSolar’s Profitability In Q1; Expects Situation To Improve As It Expands Capacity From Wafers To Modules
Leading Chinese vertically integrated solar PV manufacturer JinkoSolar Holding has reported 12.8% sequential drop in its Q1/2023 shipments of 14.49 GW, comprising 13.04 GW modules, 1.45 GW cells and wafers, pulling down its revenues by 22.2% to $3.40 billion.
Wacker’s Polysilicon Sales Dropped In Q1/2023
Volatile Polysilicon Prices Pulled Down Demand Leading To Wacker Reporting Q1 Sales & EBITDA decline
German polysilicon producer Wacker Chemie AG blames significantly lower volumes for solar grade silicon due to volatile prices of polysilicon and a maintenance related plant shutdown for lower sales and EBITDA on annual basis for this segment in Q1/2023.
Solar Energy Kits Sales Up 20% YoY In H2/2022
GOGLA Says Off-Grid Solar Helped Avoid 98 Million MT Carbon Emissions In Past Decade
Sale of off-grid solar solutions over the past decade has helped avoid 98 million metric ton (MT) of carbon emissions which is equivalent of taking 26 coal-fired power plants offline for a year, yet to reach Sustainable Development Goals (SDG) 7, fur.
Sunrun Reports $590 Million Q1/2023 Revenues
Residential US Installer Sunrun Grew PV System Deployment By 12% Annually, Exceeding Revenue Guidance
Leading residential solar installer Sunrun exited Q1/2023 having installed around 240 MW solar capacity, representing 12% higher installation on annual basis, exceeding high end of its guidance with $589.8 million in revenues, while reporting net loss of -$240.4 million.
Enel X To Build Solar Plant For Ferrari
Italian Sports Car Maker To Create Energy Community With 1 MW PV Project Near Fiorano Circuit
Luxury sports car maker from Italy, Ferrari has engaged the services of Enel X for a solar plant with approximately 1 MW capacity to be installed adjacent to its Fiorano Circuit.
Meyer Burger Bags 4-Year Module Supply Contract
IKEA’s Ingka Investments Identified By Meyer Burger As Offtaker For Its Premium US Made Solar Modules
Europe based solar cell and module manufacturer Meyer Burger Technology AG says an Ingka Investments offtake agreement, of undisclosed financial value, will cover the supply of its premium solar modules produced at its manufacturing facility in Goodyear, Arizona in the US for 4 years.
BayWa r.e. Raises $115 Million For US Pipeline
German Renewables Company BayWa r.e. Lands Nomura’s Credit Facility To Back 1.1 GW US Solar Pipeline
Moving forward on its US pipeline, BayWa r.e., the German renewable energy company, has secured a $115 million credit facility from global financial services firm Nomura to support its 1.1 GW utility scale solar and 188 MWh battery storage projects.
Brookfield Invests In India’s Avaada Group
Indian Renewables Company Avaada Raised Over $1 Billion For Green Hydrogen & Ammonia Projects, Mostly from Brookfield
Indian integrated renewable energy company Avaada Group has raised $1.07 billion as part of its ongoing $1.3 billion fund raise plan for green hydrogen and green ammonia ventures, with global renewable energy investment manager Brookfield Renewable investing up to $1 billion.
LONGi 2022 Higher Operating Income Up By 60 Percent
As LONGi Shipments Increased Across The Board in 2022 – From Wafers to Modules, It Targets Silicon Wafers Shipments to Exceed 100 GW Level In 2023 For the First Time
World leading solar manufacturer LONGi Green Energy Technology shipped 85.06 GW monocrystalline silicon wafers and 46.76 GW monocrystalline modules in 2022, and plans to ship 130 GW wafers and 85 GW of cell and modules in 2023.
