Financial & Legal

Solar manufacturer Maxeon Solar Technologies will lay off about 22% of its global workforce as it decided to entirely phase out its Maxeon 6 interdigitated back contact (IBC) modules as well as other operational realignment.

Module manufacturer Trina Solar has signed a memorandum of understanding (MoU) with wholesale distributor Marubeni Australia to supply 1.5GW of its Vertex N modules in the Oceania region.

Canadian Solar's total module shipments in Q3 this year increased by 39% to 8.3GW year-on-year, and 1% quarter-on-quarter.

Solar project developer and asset owner Photon Energy Group has posted reduced revenues and EBITDA in its  financial results for the first nine months of 2023, which the company attributed to “lower realised electricity prices and a slow-down in PV components trading”.

Global alternative asset manager Blackstone is lending US$200 million towards the construction of new solar PV projects in the US by Altus Power.

Singapore-based energy company Sembcorp has announced an agreement to buy 245MW of renewables projects in Vietnam.

SMA Group has posted an improved financial results for the first nine months of 2023, with sales increasing by more than 84% year-on-year.

US distributed solar asset owner Spruce Power has posted increased sequential revenues and adjusted EBITDA in the third quarter of 2023, as its total portfolio of residential solar assets and contracts increased to over 75,000.

US renewables asset manager Arevon Energy has reached financial close on its 157MW/150MW (600MWh) Vikings solar-plus-storage project in Imperial County, California.

US solar tracker manufacturer Array Technologies has published its financial results for the third quarter of this year, with revenue decreasing by 32% to US$350.4 million due to the decreased shipments.