Sunrun Inc - RUN STOCK NEWS

Sunrun (Nasdaq: RUN) announces the pricing of a securitization of leases and power purchase agreements, showcasing industry-leading performance and attractive capital access. The latest ABS transaction reflects a credit spread of 195 basis points, a significant improvement from previous securitizations. The securitization, issued with A rated notes by Kroll, amounts to $230 million with a weighted average life of 7 years and final maturity in 2055. The portfolio comprises 27,094 solar rooftop systems across 19 states and Washington D.C., with a weighted average customer FICO score of 739.

Sunrun partners with Carhartt to provide durable uniforms for field employees connecting homes to clean energy. Carhartt becomes the official apparel supplier for Sunrun installers, technicians, and service team members, ensuring safety and comfort during work.

Sunrun Inc. announces the pricing of $475 million aggregate principal amount of 4.00% convertible senior notes due 2030 in a private placement. The notes will bear interest at 4.00% per year, mature on March 1, 2030, and be convertible into cash, shares of Sunrun's common stock, or a combination of both.

Sunrun Inc. (RUN) plans to offer $475 million in convertible senior notes due 2030 in a private placement, with an option for an additional $75 million. The notes will be convertible into cash, stock, or a mix, and will mature on March 1, 2030. Sunrun intends to use the proceeds for debt repayment, working capital, capital expenditures, and potential acquisitions.

Sunrun (RUN) reported strong financial results for Q4 2023, with storage capacity installed exceeding guidance at 219.7 MWh, representing 154% YoY growth. Solar energy capacity reached 227.1 MW. Net Subscriber Value increased to $13,445 in Q4. Cash Generation was $11 million. Net Earning Assets grew to $5 billion. Sunrun is focusing on higher-margin storage offerings, customer engagement, and positive cash generation outlook.

Sunrun partners with Lowe's to offer solar and storage services in stores, marking a significant expansion for both companies.

Sunrun and Pacific Gas and Electric Company (PG&E) formed a first-of-its-kind partnership to provide consistent, reliable clean energy to California's power grid through home solar-plus-storage systems. The Energy Efficiency Summer Reliability Program, also known as Peak Power Rewards, involved nearly 8,500 solar-plus-storage residential systems peaking at 32 megawatts. Sunrun managed the fleet of home batteries to provide power to PG&E, achieving an average of 27 megawatts during peak hours for over 90 consecutive days. The program was operational within six months of contract signature, achieving a customer participation rate and power supply volume never before accomplished. Enrolled customers received an upfront payment of $750 and a free smart thermostat for participating. PG&E is the nation's utility leader in both rooftop solar and behind-the-meter storage, with nearly 820,000 customers connected to the electric grid with rooftop solar and nearly 75,000 customers having installed and connected storage systems to the grid in PG&E's service area. Sunrun is the nation's largest provider of distributed power plant programs and is exploring future programs with PG&E.

Sunrun (Nasdaq: RUN) partners with SOMAH, St. Mary’s Elderly Housing Corporation, and Asian Pacific Environmental Network to install a new rooftop solar system at St. Mary’s Gardens, an affordable housing community in Oakland, California. The solar panels will offset two-thirds of the community's energy usage, providing residents with clean energy and immediate monthly savings.

Sunrun (Nasdaq: RUN) will release its fourth quarter and full-year 2023 earnings report on February 21, 2024, followed by a conference call to discuss the results. The company also issued a statement celebrating the milestones and environmental impact of its customer base in 2023, including the addition of 110,285 solar-only homes and 28,227 solar + battery storage homes. However, investors are advised not to rely on these figures or view them as comparable to key operating metrics disclosed in the company's materials.