SOL - Emeren Group: Over-Optimism Should Be Set Aside

2024-04-09 05:23:28 ET

Summary

• Emeren Group is an EPC and IPP company with a portfolio of 245MW of PV systems and 15MWh of storage systems.
• The company is increasingly focusing on the European market, which to date is less competitive than the U.S. market.
• FY23 was characterized by disappointing results, below management's guidance, and I expect that those for FY24 will not be met as well.

Emeren Group ( SOL ) is a company headquartered in the British Virgin Islands that operates globally as an EPC (Engineering, Procurement, and Construction) and IPP (Independent Power Producer). SOL has a portfolio of 245MW of PV systems, 15MWh of storage systems, and an advanced stage solar project pipeline of 3100 MW and a storage project pipeline of 5179 MW....

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