The electrical balance of systems company’s gross margins shrank, leading to a net loss of $9.8 million. It has an ongoing legal case in which it is seeking damages from a wire insulation provider.
Sun Streams 4 is the company’s largest project to date. The facility is expected to ease grid congestion during peak hours and stimulate over $100 million into Arizona’s economy.
The solar inverter provider expects Q4 revenues to be less than half of the $725 million reported in Q3.
The U.S.-based thin-film solar panel manufacturer raised its expectations for 2023 as its order backlog grows.
DOE will fund the Transmission Facilitation Program projects.
Majority holder Flex plans to spin off its remaining interests in Nextracker. Plus, the company raised its earnings guidance for 2024.
Sunlight Financial, whose stock price has plummeted amid accumulating more than $500 million in underwater loans, has been acquired by a consortium led by Greenbacker Capital Management, Sunstone Credit, IGS Ventures.
Also on the rise: Enphase stock slides on weakened demand, significantly lowered Q4 guidance. DOE requests input on draft roadmap to fix utility-scale interconnection. And more.
U.S. revenues dropped 16% from the previous quarter while European sales fell 34%.
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