Emeren Group Stock Price, News & Analysis

ReneSola Ltd (NYSE: SOL) reported preliminary financial results for Q1 2021, expecting revenues over $20 million, exceeding prior guidance of $18 million to $20 million. The projected gross margin for this period is over 15%, compared to earlier estimates of 10% to 11%. The company also anticipates a profitable quarter with positive non-GAAP net profits. CEO Yumin Liu highlighted successful project sales and cost control as key factors in their positive outlook for 2021.

ReneSola Ltd. (NYSE: SOL) announced the successful sale of a 10 MW solar project portfolio to Greenbacker Renewable Energy Company. This portfolio, located in Utah, consists of three ground-mounted sites at the Notice to Proceed (NTP) stage, allowing Greenbacker to finalize construction. The sale, which was not included in previous Q1 guidance, is expected to positively impact financial results for the first quarter of 2021. CEO Yumin Liu noted a strategic shift to focus on pre-construction sales to enhance profitability and project pipeline growth.

ReneSola Ltd (NYSE: SOL) has completed the sale of a 12.3 MW portfolio of solar projects in Hungary to Obton, an international solar investment company. This transaction, which was originally disclosed on January 8, 2021, closed on March 19, 2021. The portfolio consists of 20 solar plants across five locations, including Sárbogárd, Kömlöd, Szajol, Lukacshaza, and Törökszentmiklós, all successfully connected to the grid in 2020 and qualifying under Hungary's 25-year KAT feed-in tariff scheme.

ReneSola Power (NYSE: SOL), a prominent solar project developer, has released its unaudited financial results for Q4 and the full year 2020. The detailed results can be accessed through the company’s shareholder letter on its Investor Relations website. A conference call is scheduled for March 26, 2021, at 8:30 a.m. ET to discuss the financial outcomes and business updates. ReneSola Power continues to focus on high-margin project development in growth markets, notably in the U.S. and Europe, where it holds a strong market position.

ReneSola Ltd (NYSE: SOL) announced the sale of two solar parks in Romania, totaling 15.4 MW, to Alternus Energy Group. The transaction, which closed in December 2020, is expected to improve the company's financial standing. The sale generated €24 million, enhancing cash flow and profitability. The solar parks include a 9.4 MW facility in Dambovita county and a 6 MW facility in Prahova county, both operated by special purpose vehicles. CEO Yumin Liu expressed optimism about future collaborations with Alternus Energy.

ReneSola Power (NYSE: SOL) will announce its unaudited financial results for Q4 and the full year ending December 31, 2020, on March 26, 2021, before market open. A conference call is scheduled for 8:30 a.m. ET to discuss the results. ReneSola Power is engaged in solar project development and has a significant presence in the U.S. and Europe, particularly in Poland and Hungary. The company aims to leverage market opportunities driven by favorable government policies for solar energy projects.

SOL Global Investments Corp. has made a significant investment of CAD$6.1 million in Damon Motorcycles, an innovator in electric motorcycles, which raised USD$30 million in a recent financing round. Following this investment, SOL Global holds approximately a 5% stake in Damon, valued at CAD$114 million. Damon’s motorcycles are equipped with advanced safety features and offer a subscription purchase model. SOL Global continues to adapt amidst COVID-19 challenges, maintaining operations in the cannabis sector through various strategic initiatives.

ReneSola Power (NYSE: SOL) announced its participation in two virtual investor conferences. The 33rd Annual Roth Conference is scheduled for March 17, 2021, with a fireside chat at 12:00 PM EDT. The Maxim Group Inaugural Emerging Growth Virtual Conference will follow on March 18, 2021, also at 12:00 PM EDT. Investors can access webcasts of the events on the ReneSola Power website. Management will be available for one-on-one meetings with institutional investors during these conferences.

SOL Global Investments Corp. announced a normal course issuer bid (NCIB) to repurchase up to 2,737,805 common shares, about 5% of its outstanding shares, due to their belief that the market price does not reflect the company's underlying value. The NCIB is set to commence on March 31, 2021. The Company plans to appoint Clarus Securities as its broker for the buyback. This initiative is part of SOL Global's strategy to enhance shareholder value, with the 2020 financial results expected to be released on March 29, 2021.