EDP Renewables (EDPR) added a total of 465MW of wind and solar capacity in Q1 2022, mainly due to its acquisition of Singaporean developer Sunseap, while it recorded a net profit of €66 million (US$69.8 million), up 75% on the previous year.
US residential solar installer SunPower’s backlog soared to a record 13,800 customers entering Q2 2022 with the installer confirming a series of investments it is making to meet surging demand.
German conglomerate BayWa benefited from high demand for solar modules during the first quarter of 2022, with its revenues bolstered by the sale of an operational PV plant in the US.
A breakdown of leading US solar installer Sunrun's financial results for Q1 2022 when it added 29,463 customers, with management now expecting installed solar capacity to be 25% or greater for the full year 2022.
Inverter manufacturer SolarEdge benefited from high demand for its products in Europe to increase revenues to a quarterly record while navigating a shortage of electronic components.
US thin-film manufacturer First Solar recorded a US$43.3 million loss in its Q1 2022 mostly caused by a drop in sales, with the company expecting a “challenging 2022 from an earning standpoint” given ongoing supply chain constraints.
US residential solar installer Sunnova continues to reduce its net loss in the first quarter of 2022, despite increasing its revenue due to a higher demand of additional energy services.
Microinverter supplier Enphase Energy sidestepped ongoing global logistics challenges in the opening quarter of 2022 to post record quarterly revenues.
Tesla CEO Elon Musk said he expects the company to address component shortages that limited the progress of its solar business in the first quarter of 2021, as installs decreased 48% year-on-year.
