Wind Developer Orsted Swings to $48.2 Million Loss in Q4 Due to Project Delays

Wind Developer Orsted Swings to $48.2 Million Loss in Q4 Due to Project Delays

Denmark-based wind developer Orsted swung into a loss of DKK 329 million (~$48.19 million) in the fourth quarter (Q4) of the financial year (FY) 2022, compared with a net profit ...
/ / Finance and M&A, Wind
Sterling and Wilson’s Q3 Revenue Shrinks 73% YoY to ₹4.18 Billion

Sterling and Wilson’s Q3 Revenue Shrinks 73% YoY to ₹4.18 Billion

The total revenue of Sterling and Wilson Renewable Energy, the solar engineering, procurement, and construction (EPC) arm of Shapoorji Pollonji Group, fell by 73% year-over-year (YoY) to ₹4.18 billion (~$51.5 ...
/ / Finance and M&A, Solar
ReneSola Power’s Q3 Net Income Jumps four-fold to $3 Million on China Assets

ReneSola Power’s Q3 Net Income Jumps Four-fold to $3 Million on China Assets

Solar project developer ReneSola Power posted a net income of $3 million for the third quarter (Q3) of 2022, an over four-fold jump year-on-year (YoY) from $711,000. The company’s revenue ...
/ / Finance and M&A, Solar
Soltec Power Swings to €14.5 Million Profit in Q3 on Better Demand

Soltec Power Swings to €14.5 Million Profit in Q3 on Better Demand

Solar tracker maker Soltec Power Holdings swung to a net profit of €14.5 million ($15.1 million) in the third quarter (Q3) of FY 2022, against a loss of €0.1 million ...
/ / Finance and M&A, Solar
Solar Glass Manufacturer Borosil Renewables’ Profit Dips by 29% YoY in Q2 FY23

Solar Glass Manufacturer Borosil Renewables’ Profit Dips by 29% YoY in Q2 FY23

Borosil Renewables, an India-based solar-glass manufacturer, recorded a profit after tax of ₹241.89 million ($2.97 million) for the second quarter (Q2) of the financial year (FY) 2023, a YoY decrease ...
/ / Finance and M&A, Solar
Shoals Technologies’ Q3 Net Income Soars 142%

Shoals Technologies’ Q3 Net Income Soars 142%

Manufacturer of the solar balance of system (BOS) components Shoals Technologies Group recorded a net income of $12.9 million in the third quarter (Q3) of FY 2022, a 142% jump ...
/ / Finance and M&A, Solar
Siemens Gamesa Posts Net Profit of €286 Million in Q4 FY22

Siemens Gamesa Posts Net Profit of €286 Million in Q4 FY22

Spain-based wind engineering company Siemens Gamesa Renewable Energy reported a profit of €286 million ($293.34 million) in the fourth quarter (Q4) of the fiscal year (FY) 2022, a year-on-year (YoY) ...
/ / Finance and M&A, Wind
Atlantica’s Renewables Business Revenue Dips 8.54% YoY in Q3 2022

Atlantica’s Renewables Business Revenue Dips 8.54% YoY in Q3 2022

UK-headquartered Atlantica Sustainable Infrastructure’s renewable business recorded a revenue of $232.42 million in the third quarter (Q3) of 2022, a year-over-year (YoY) dip of 8.54% from $254.13 million. The renewables ...
/ / Other, Renewable Energy
FTC Solar’s Q3 Loss Widens to $25.6 Million

FTC Solar’s Q3 Loss Widens to $25.6 Million

U.S.-based solar tracker systems provider FTC Solar’s Q3 GAAP (generally accepted accounting principles) net loss widened to $25.6 million compared to $22.9 year-over-year (YoY) due to low demand induced by ...
/ / Finance and M&A, Solar
Zinc Battery Maker Eos Energy Reports $70.7 Million Loss in Q3, Ramps Production

Zinc Battery Maker Eos Energy Reports $70.7 Million Loss in Q3, Ramps Production

U.S-based sustainable zinc-based energy storage solutions provider Eos Energy Enterprises reported a net loss of $70.7 million for the third quarter (Q3) of 2022 due to the ongoing production ramp-up ...
/ / Finance and M&A, Other
SunPower Swings To $139 Million Profit in Q3 Owing to Record Customer Additions

SunPower Swings To $139 Million Profit in Q3 Owing to Record Customer Additions

Distributed generation storage and energy services provider SunPower Corporation posted a net income of $139 million for the third quarter (Q3) of 2022, compared with a loss of $84.4 million ...
Array Technologies Swings to Profit in Q3 on Higher Sales Volume and Prices

Array Technologies Swings to Profit in Q3 on Higher Sales Volume and Prices

Solar tracker manufacturer Array Technologies swung to profit in the third quarter (Q3) of 2022 on the back of strong growth in sales volume and prices. The company’s quarterly net ...
/ / Finance and M&A, Solar
Smart Energy Storage Company Stem’s Q3 Revenue Up 150% On Higher Hardware Sales

Smart Energy Storage Company Stem’s Q3 Revenue Up 150% On Higher Hardware Sales

Smart energy storage company Stem reported revenue of $100 million in Q3 FY 2022, a jump of 150% year-over-year (YoY) primarily due to higher hardware sales from Front-of-the-Meter (FTM) and ...
/ / Other, Renewable Energy
Scatec Q3 Revenue Up 10% YoY Driven Increased Hydropower Sales in the Philippines

Scatec Q3 Revenue Up 10% YoY Driven By Increased Hydropower Sales in the Philippines

Norwegian independent power producer Scatec posted consolidated revenue of NOK 1,163 million (~$110.6 million) for Q3, 2022, an increase of 10% year-over-year (YoY) primarily due to better power sales at ...
/ / Other, Renewable Energy
Residential Solar Firm Sunrun’s Q3 Revenue Jumps 44% YoY on Higher Customer Acquisition

Residential Solar Firm Sunrun’s Q3 Revenue Jumps 44% YoY on Higher Customer Acquisition

U.S.-based company Sunrun posted total revenue of $631.9 million in the third quarter (Q3) of 2022, up 44% year-over-year (YoY), on the back of growth in customer additions and improved ...
/ / Other, Renewable Energy
Daqo New Energy’s Q3 Net Income Jumps 11% YoY Amid Rise in Polysilicon Demand

Daqo New Energy’s Q3 Net Income Jumps 11% YoY Amid Rise in Polysilicon Demand

Daqo New Energy Corporation, the Chinese photovoltaic (PV)-grade polysilicon manufacturer, posted a net income of $323.4 million in Q3, 2022, a year-over-year (YoY) increase of 11%. The net income growth ...
/ / Other, Renewable Energy
NTPC’s Q2 FY23 Consolidated Net Profit Dips 7.4% on Higher Fuel Cost

NTPC’s Q2 FY23 Consolidated Net Profit Dips 7.4% on Higher Fuel Cost

State-owned power producer NTPC reported a net profit of ₹34.2 billion (~$414.6 million) for the second quarter of the current fiscal year, a dip of 7.4% compared to the same ...
Increased Demand for Residential Solar Systems Boost Sunnova’s Q3 Revenue by 116%

Increased Demand for Residential Solar Systems Boost Sunnova’s Q3 Revenue by 116%

U.S.-based residential solar company Sunnova posted a year-over-year (YoY) surge of 116% in revenue at $149.3 million for the third quarter (Q3) of 2022 compared to $68.9 million in Q3 ...
/ / Markets & Policy, Solar
Tesla Records $21.5 Billion in Revenue and 2.1 GWh Energy Storage Deployments in Q3 2022

Tesla Records $21.5 Billion in Revenue and 2.1 GWh Energy Storage Deployments in Q3 2022

Tesla recorded total revenues of $21.5 billion in the third quarter (Q3) of 2022, a 57% year-over-year increase compared to $13.7 billion in Q3 2021 and a quarter-over-quarter (QoQ) leap ...
Supply Chain Disruptions, Delayed Product Sales Hit ReneSola’s Financials in Q2 2022

Supply Chain Disruptions, Delayed Product Sales Hit ReneSola’s Financials in Q2 2022

ReneSola Power, a solar developer, posted net revenue of $8.6 million for the second quarter (Q2) of 2022, a year-over-year (YoY) fall of 54% from $18.88 million. The company attributed ...
/ / Finance and M&A, Solar
Torrent Power Records a 110% YoY Increase in Revenue in Q1 FY23

Torrent Power Records a 110% YoY Increase in Revenue in Q1 FY23

Gujarat-based power company Torrent Power recorded revenue of ₹66.19 billion (~$832.01 million) in the first quarter (Q1) of the financial year (FY) 2023, a year-over-year (YoY) increase of 110% compared ...
/ / Other, Renewable Energy
Energy Storage Firm Stem Posts 166% Growth in Revenue, Secures Supply Chain for 2022

Energy Storage Firm Stem Posts 166% Growth in Revenue, Secures Supply Chain for 2022

Stem, a smart energy storage company, posted revenue of $44.1 million in the first quarter (Q1) of 2022, a year-over-year (YoY) spike of 166% from $15.4 million in the same ...
Shoals Technologies’ Revenue Rises 49% YoY to $68 Million in Q1 2022

Shoals Technologies’ Revenue Rises 49% YoY to $68 Million in Q1 2022

Manufacturer of the solar balance of system components, Shoals Technologies Group, recorded revenue of $68 million in the first quarter (Q1) of 2022, a year-over-year (YoY) increase of 49% from ...
Battery Storage Company Flux Power's Revenue Up by 89% YoY in Q3 FY 2022

Battery Storage Company Flux Power’s Revenue Up by 89% YoY in Q3 FY 2022

U.S.-based lithium-ion storage solutions provider Flux Power Holdings recorded $13.2 million in revenue in the third quarter (Q3) of the fiscal year 2022, an increase of 89% from $7 million ...
SMA Solar Technology’s Net Income Up 22% to €28 million in FY 2021

SMA Solar Technology’s Net Income Up 22% to €28 million in FY 2021

SMA Solar Technology AG, a German solar equipment supplier, recorded revenue of €221 million (~$232 million) in the first quarter (Q1) of 2022, a year-over-year (YoY) decline of 8% from ...