Industrial group Baywa recorded €1.5 billion (US$1.63 billion) in revenues from its renewable energy business in Q1 2023, just under a 25% of the group’s total quarterly revenue of €6.3 billion (US$6.8 billion).
Solar module supplier Maxeon has started evaluating the possibility of expanding its manufacturing capacity in the US with a cell and module assembly plant.
Solar tracker and software provider Nextracker more than doubled its adjusted EBITDA in the financial year (FY) ending March 2023 compared with the previous year, up to US$209 million from US$92 million.
Solar tracker supplier Array Technologies has increased its revenue in the opening quarter of 2023 due to higher volume sales and average selling price (ASP).
PV balance of system (BOS) solutions provider Shoals Technologies posted an increased adjusted EBITDA in the first quarter of 2023, while the company expected yearly revenue of up to US$510 million.
Indian renewable company Adani Green Energy Limited (AGEL) posted an improved EBITDA from power supply in the last financial year, while its operational capacity increased by 49% year-on-year, according to its latest financial results.
US utility AES Corporation has announced its plans to triple its renewables generation capacity and outline the growth strategies for its operations through 2027.
Solar module supplier Maxeon aims to turn the negative adjusted EBITDA around through investing in technology and increasing customer value, in addition to contiuning investing in talents, according to the company’s CEO Bill Mulligan and CTO Matt Dawson.
Israeli solar inverter manufacturer SolarEdge posted strong Q1 2023 financial results with record revenues and shipments, building on a less profitable 4th quarter.
