A Solar Merger That Just Closed Will Transform the Industry
Thursday, 8 October 2020, 23:17:00
Sunrun bought Vivint Solar and the two companies now serve about 500,000 customers.The industry hasn’t had a large player like this before.
Winners and Losers of BlackRock’s Climate Pushback (So Far)
Tuesday, 8 September 2020, 09:00:00
In January, the world’s largest asset manager issued a warning shot that the status quo on climate change is not going to cut it. In his annual letter, BlackRock CEO Larry Fink wrote: “We don’t yet know which predictions about the climate will be most accurate, nor what effects we have failed to consider. But there is no denying the direction we are heading. Every government, company, and shareholder must confront climate change.” With more than $6 trillion of investments under management and influence in boardrooms of nearly 1,800 companies, what BlackRock says carries big weight across the corporate and political world. But that weight only hits home if BlackRock follows through and presses for a response to climate change in boardrooms. Among its specific pledges, BlackRock said it will divest from companies deriving 25 percent or more of their revenue from thermal coal, and press companies to make climate and sustainability disclosures aligned with Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD).
— Green Technology Media
What’s New In Solar Energy: A Rundown Of 6 Solar-Related Stocks
Monday, 31 August 2020, 19:13:55
According to the most recent report from the Solar Energy Industries Association, 2020 marked the largest first quarter on record in the U.S. As for the whole year, Wood Mackenzie expects annual growth in new solar installations to increase by one-third. The SEIA is projecting nearly 20 GW of new solar installations. While the pandemic has disrupted the global economy and harmed the solar industry, the potential of the sector is intact. This claim is supported by SunRun Inc’s (NASDAQ: RUN ) recent $3.2 billion all-stock acquisition of Vivint Solar Inc (NYSE: VSLR ). Clearway Energy – Major Dividend For its second-quarter, Clearway Energy Inc (NYSE: CWEN ) reported a net income of $76 million. Adjusted EBITDA was $316 million with $100 million in cash gained from operating activities. The renewable energy producer now yields 4.9% after providing its investors with a monster dividend increase this month. The company can easily support the higher payout thanks to its stability gained by long-term and fixed-rate contracts.
Vivint Solar Reports Second Quarter 2020 Results
Wednesday, 5 August 2020, 22:05:00
LEHI, Utah, Aug. 5, 2020 /PRNewswire/ — Vivint Solar, Inc. (NYSE: VSLR), today announced financial results for the second quarter ended June 30, 2020. Second Quarter 2020 Operating Highlights Key operating and development highlights include: MWs Installed of approximately 44 MWs for the…
— PR Newswire
Thursday, 30 July 2020, 22:40:00
Residential solar company Sunnova came out of a daunting Q2 in better financial shape than it’s ever been. Earlier in the year, the disruption of the coronavirus pandemic and public safety response prompted most leading solar companies to revoke their financial guidance for the year. Vivint Solar, SunPower, Sunrun and Tesla all did. But Sunnova did not, and it backed up its confidence with strong performance in the second quarter. Sunnova installed 6,166 rooftop systems in the quarter through its dealer network. At an average size of 7.8 kilowatts, that translates to about 48 megawatts. That installation count is down 9 percent from Q1, not nearly as bad as the quarterly declines analysts predicted for the residential sector as a whole. And Sunnova’s installations up 54 percent from Q2 2019. That brings Sunnova’s total customer base to 91,574, including leases, loans and power purchase agreements. Sunnova also grew its dealer network from 191 partners in Q1 to 227 partners in Q2, and raised its energy storage attachment rate to 34 percent, from 30 percent the previous quarter. “It’s awesome to see the performance by my folks and the dealers through this quarter,” CEO John Berger told Greentech Media in a Thursday interview. “I strongly suspected that we could perform very well, but even I was surprised by how well we performed in this very difficult period.” Sunnova’s expectation for the year is to add 28,000 to 30,000 customers; the 12,936 already added means the company is on pace, given that installations typically increase in the latter half of the year.
— Green Technology Media
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