Emeren Group Ltd (ADR) (N:SOL)
Business Focus: Electric Construction
| Sector: Industrials | Industry: Construction & Engineering |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 149 Water Street, Suite 302 NORWALK CT 06854 |
| Tel: | 1-347-5779055 |
| Website: | https://emeren.com |
| IR: | See website |
| Key People | ||
| Himanshu Harshad Shah Chairman of the Board | Yumin Liu Chief Executive Officer, Director | Ke Chen Chief Financial Officer |
| John Ewen Chief Executive Officer of North America | Josef Kastner Chief Executive Officer of Europe Projects | |
| Business Overview |
| Emeren Group Ltd (Emeren) is a global solar project developer, owner, and operator with a pipeline of projects and independent power producer (IPP) assets totaling over three gigawatts (GW), as well as a storage pipeline of over 10 Gigawatt hours (GWh) across Europe, North America, and Asia. The Company focuses on solar power project development, construction management and project financing services with local professional teams across multiple countries. Emeren North America develops utility and community scale solar, solar plus storage, and stand-alone storage projects. In China, Emeren is focused on project development, construction, and operations of distributed solar power generation and energy storage facilities. Its European market is focused on developing medium and large-scale ground-mounted photovoltaic (PV) plants. The Company also operates a 10.76 megawatt-hour (MWh) portfolio comprising six energy storage power stations, located in Zhejiang Province. |
| Financial Overview |
| For the nine months ended 30 September 2023, Emeren Group Ltd (ADR) revenues increased 49% to $60.7M. Net loss totaled $1.2M vs. income of $1.1M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net loss reflects General and administrative increase of 58% to $16.7M (expense), Other operating (expenses)/income increase from $191K to $4.9M (expense). |
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