financial results

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 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.

Trina Solar shipped more than 45GW of modules in the first three quarters of 2023, as its revenue increased by over 31% year-on-year.

Norwegian independent power producer (IPP) Scatec has posted a weakened financial results for the third quarter of 2023, with year-on-year power production and profit dropping by 7.8% and 71.6% respectively.

Clearway Energy has reported a net income of US$112 million at its renewable projects in the first nine months of the year.

Longroad Energy has achieved financial close on a large-scale solar-plus-storage in Arizona, part of a portfolio it acquired from vertically integrated solar manufacturer First Solar.

SolarEdge has posted a downturn in Q3 financial results, which it attributed to a “slow market environment, in particular in Europe”.

US domestic solar company SunPower has lowed its FY2023 guidance due to reduced consumer demand, delayed revenue recognition from longer cycle times, and a net loss of more than US$30 million in the third quarter this year.

Sunrun has published its financial results for the third quarter of this year, which include the installation of 258.2MW of new solar capacity.

Class action lawsuits have been filed against US domestic solar company SunPower, amidst allegations that company misled investors by failing to disclose that it had inaccurately reported the cost of revenue and inventory metrics.