Complete Solaria Inc. Stock Price, News & Analysis

TotalEnergies reported a strong financial performance for 2Q22 with an IFRS net income of $5.7 billion and adjusted net income of $9.8 billion, both significantly up from the previous year. The company is accelerating its transformation with major investments in LNG, renewables, and green hydrogen projects, including a significant stake in Qatar's NFE LNG project and the acquisition of Clearway Energy Group. Cash flow from operations reached $16.3 billion, and the company announced a 5% increase in its interim dividend to €0.69/share. Despite a $3.5 billion impairment charge related to Russian assets, TotalEnergies remains focused on delivering shareholder returns and expanding its renewable portfolio.

SunPower Corp. (NASDAQ: SPWR) will announce its second quarter 2022 financial results on August 2, 2022, at 8:05 a.m. ET, followed by a conference call at 8:30 a.m. ET. Investors can access the live audio webcast by registering online. SunPower, a major solar and energy services provider in North America, specializes in solar + storage solutions. These solutions provide customers with control over their electricity consumption during outages while also delivering potential cost savings.

TotalEnergies has signed an agreement with Global Infrastructure Partners to acquire 50% of Clearway Energy Group, marking its largest renewable energy acquisition in the US. This strategic investment positions TotalEnergies as a significant player in the US renewable market, with Clearway controlling 7.7 GW of operational assets and a 25 GW development pipeline. The transaction involves $1.6 billion in cash and aims to enhance Clearway's growth through TotalEnergies' trading capabilities. This acquisition aligns with TotalEnergies' goal to reach 100 GW of renewable capacity by 2030.

Global Infrastructure Partners (GIP) and TotalEnergies have announced a strategic partnership aimed at boosting their presence in the U.S. renewable energy sector. TotalEnergies will acquire 50% of GIP's interest in Clearway Energy Group for $1.60 billion in cash along with a stake in the TotalEnergies subsidiary owning 51% of SunPower Corporation (NASDAQ:SPWR). Clearway, which has a 22 GW development pipeline, stands to benefit from TotalEnergies' U.S. power marketing capabilities, enhancing its growth potential. This partnership marks TotalEnergies' largest investment in U.S. renewables.

IKEA U.S. has partnered with SunPower (NASDAQ:SPWR) to launch Home Solar with IKEA in select California locations for IKEA Family members starting Fall 2022. This initiative aims to provide solar energy solutions that empower customers to generate and store renewable energy, reflecting IKEA's commitment to sustainability. SunPower, known for quality solar products, supports this project with its Complete Confidence Warranty. This collaboration aligns with IKEA's broader goal of becoming circular and climate positive by 2030, enhancing its existing renewable energy portfolio.

SunPower Corp. (NASDAQ:SPWR) reported $350 million in GAAP revenue for Q1 2022, with a record $336 million in non-GAAP residential revenue, marking a 41% year-over-year growth. The company added 16,500 customers, a 40% increase, and entered Q2 with a record backlog of 13,800, up 169% year-over-year. SunPower is in late-stage talks with First Solar to develop an advanced residential solar panel and has launched a Dealer Accelerator Program to expand its dealer network. Despite a net loss of $2 million, the company is poised for continued growth in 2022, supported by strong customer demand and strategic investments.

TotalEnergies reported a $4.1 billion impairment related to its Russian operations amid ongoing geopolitical tensions. Despite this, the company posted an IFRS net income of $4.9 billion for Q1 2022, down 15% from the previous quarter but up 48% year-on-year. Adjusted net income reached $9 billion, marking a 32% increase. The company generated cash flow from operations of $7.6 billion, a significant decrease of 34%. Additionally, TotalEnergies declared a 5% increase in its interim dividend to €0.69 per share, while expanding its sustainable energy investments, including offshore wind projects.

TotalEnergies (TTE) is enhancing its foothold in the U.S. renewable energy market by acquiring Austin-based Core Solar, LLC. This acquisition adds over 4 GW of utility-scale solar and energy storage projects to TotalEnergies' portfolio, which now exceeds 10 GW of gross capacity across various U.S. states. The move aligns with TotalEnergies' goal to reach 100 GW of renewable projects by 2030. Core Solar’s team will integrate into TotalEnergies, leveraging their expertise to accelerate growth in the solar sector.