US distributed solar supplier Spruce Power has posted an improved financial results as its adjusted EBITDA increased by 33.8% year-on-year in the first half of 2023.
Solar developer Recurrent Energy, a subsidiary of Canadian Solar, has signed an aggregated virtual power purchase agreement (PPA) with several offtakers for its 100MW solar PV project in Liberty County, Texas.
Solar module supplier Maxeon has started evaluating the possibility of expanding its manufacturing capacity in the US with a cell and module assembly plant.
US renewables developer Pivot Energy has closed a US$203 million financing facility to fund 100MW of distributed solar PV projects across numerous states.
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.
As distributed energy resources such as residential solar rooftop increase in the next decade, its use for virtual power plants could save US utilities up to US$35 billion, according to a study from consultancy The Brattle Group.
Jinko Solar has posted an improved financial result for the first quarter of 2023, as its net income attributable to ordinary shareholders increased by 18.6% quarter-on-quarter.
