Finance

Vivint beat estimates with $91.2 million in revenue in Q1, though, like with most other third-party solar companies, that was outweighed by $51.9 million in losses from operations. Installation figures fell during the quarter and are only expected to fall further, as Covid-19 runs its course on residential solar.

Also in the brief: solar on schools in Virginia and a Hawaiian microgrid.

“Despite the uncertain economic environment, demand for our Series 6 product remains strong, as evidenced by the 1.1 GWDC of net-bookings since our prior earnings call.”

Despite the pandemic, capital is still pouring into solar.

Also in the brief: Alchemy Renewable Energy has closed on deal to acquire a 44.5 MWdc solar energy portfolio, Ormat Technologies has begun the commercial operation of the Rabbit Hill Battery Energy Storage System, Kansas’ largest solar project ever has officially gone live and more.

Residential solar asset owner-operator will use the funds to continue its acquisition spree.

Also in the brief: Chinese EV startup Nio has secured a $1 billion investment, Kore Power has entered into a strategic partnership with ELM FieldSight, Nautilus Solar Energy has closed on a $90 million debt financing agreement and more.

The transit agency expects to save “several hundred thousand dollars a year, on average” through its fixed-price contract for solar power. The agency’s sustainability program “is a platform not just for environmental improvements, but for financial improvements,” said an executive.

The two companies have invested $13.2 million into Amply Power, a service that combines EV charging hardware distribution and fleet management software into one customer-focused package.

The tariff is around $0.0021 lower than the $0.0156/kWh French oil giant Total and Japanese conglomerate Marubeni Corp offered in Qatar’s 800 MW tender in late January. French energy company EDF and Chinese solar company JinkoPower reportedly submitted the record bid in the UAE exercise.