STAMFORD, Conn., Sept. 3, 2024 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced the appointment of Dr. Ramakrishnan (Ramki) Srinivasan, an experienced clean energy project developer and management consultant to its Board of Directors, effective immediately."We are delighted to welcome Ramki to our Board of Directors," said Himanshu Shah, Chairman of the Company. "His deep understanding, l ...

STAMFORD, Conn., Aug. 29, 2024 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced its participation in the ROTH MKM 11th Annual Solar & Storage Symposium on September 10th – 11th, 2024 at the RE+ Conference. The symposium will be held at the Anaheim Convention Center in Anaheim, CA.Management will be available for one-on-one or small group meetings with institutional investors during the sy ...

With Bitcoin and Ethereum already sporting their own funds, here's my pick for the next up to bat.In the wake of the spot Bitcoin and Ethereum ETF approvals, there's been a lot of speculation about which crypto might be next. Already, a handful of names have been suggested, including all of the usual suspects: XRP, Solana (SOL 9.12%), Cardano, Litecoin, and Avalanche.Of these, Solana has the best chance of getting a spot ETF. In fact, this could happen as early as January 2025. From my perspective, there ar ...

Emeren Group Ltd’s (SOL) share price increased 5.9% to reach $1.96 on Aug 21 following the company’s latest quarterly release.Emeren reported an income per American Depositary Share (“ADS”) of a penny for the second quarter of 2024, which missed the Zacks Consensus Estimate of 7 cents by 85.7%. The figure also reflects a deterioration of 92.9% from the year-ago quarter’s reported figure of 14 cents per share.RevenuesEmeren’s second-quarter net revenues of $30.1 million declined 11.2% from $33.9 million repo ...

Exhibit 99.1 Development Service Agreement (DSA) BESS/PV Projects (MW) Expected Revenue Contracted > 2 GW > $60 mil Under Negotiation > 2 GW ~ $100 mil August 20, 2024 Fellow Shareholders, In the second quarter of 2024, our company achieved solid progress, generating $30.1 million in revenue. This performance was underpinned by gross profit of $9.4 million, translating to a robust gross margin of 31.2%. Operating profit was $3.0 million and net income was $0.4 million. These results reflect our disciplined ...

Emeren Group Ltd (NYSE:SOL) Q2 2024 Earnings Conference Call August 20, 2024 5:00 PM ET Company Participants Gary Dvorchak - Investor Relations, The Blueshirt Group Yumin Liu - Chief Executive Officer Ke Chen - Chief Financial Officer Conference Call Participants Graham Price - Raymond James Philip Shen - Roth Capital Partners Amit Dayal - H.C. Wainwright Donovan Schafer - Northland Capital Markets Operator Hello, ladies and gentlemen. Thank you for standing by for Emeren Group Limited's Second Quarter 2024 ...

SOL LISTED NYSE NYSE: SOL Q2 2024 Earnings Presentation August 20, 2024 Safe Harbor Statement 2 NYSE: SOL This presentation contains statements that constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Com ...

STAMFORD, Conn., Aug. 20, 2024 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced its unaudited financial results for the second quarter ended June 30, 2024. Emeren's second quarter 2024 financial results and management commentary can be found by accessing the Company's shareholder letter on the quarterly results page of the Investor Relations section of Emeren Group Ltd's website at https: ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001 33911 EMEREN GROUP LTD (Exact Name of Registrant as Specified in Its Charter) Acceleratedfiler Smallerreporting British Virgin Islands N ...

Financial Performance - In Q1 2024, the company generated $14.6 million in revenue, with a gross profit of $4.3 million and a gross margin of 29.6%[139] - Revenue from solar/storage power projects increased to $14.6 million in Q1 2024, up from $12.9 million in Q1 2023[158] - Net revenue increased from $12.9 million in Q1 2023 to $14.6 million in Q1 2024, primarily due to a $5.1 million increase in DSA revenue[174] - Gross profit for Q1 2024 was $4.3 million, compared to $1.6 million in Q1 2023, reflecting a favorable margin within DSA revenue[176] - Operating expenses rose from $4.6 million in Q1 2023 to $5.5 million in Q1 2024, driven by increases in general and administrative expenses[176] - Net loss for Q1 2024 was $5.5 million, compared to a net loss of $0.6 million in Q1 2023, primarily due to foreign exchange losses[178] Revenue Sources - DSA revenue accounted for 34.7% of total revenue, primarily driven by contracts in Italy, with plans for global expansion[140] - IPP assets contributed approximately 36.9% of revenue with a gross margin of 46.5%, balanced between Europe and China[142] Project Pipeline - The advanced-stage solar project pipeline totals 2,612 MW, while the early-stage pipeline is 6,374 MW, summing up to 8,986 MW[147] - The advanced-stage solar storage project pipeline totals 3,106 MW, with an early-stage pipeline of 4,913 MW, totaling 8,019 MW[149] Cash Flow and Working Capital - The company had negative operating cash flow of $6.8 million for Q1 2024, alongside a loss from operations of $1.2 million[179] - As of March 31, 2024, the company had positive working capital of $161 million and total current assets of $218.9 million[181] - Net cash used in operating activities decreased by $16.9 million, primarily due to favorable turnover of trade and unbilled receivables, contributing an increase of $15.8 million[189] - Net cash used in investing activities increased by $0.7 million, mainly due to a $0.9 million increase in purchases of property, plant, and equipment[189] - Net cash used in financing activities decreased by $8.0 million, attributed to a $7.0 million decrease in share repurchases and a $1.4 million repayment of finance lease obligations[190] - The total net decrease in cash, cash equivalents, and restricted cash was $15.1 million for the three months ended March 31, 2024, compared to a decrease of $40.6 million for the same period in 2023[188] Foreign Exchange and Interest - Foreign exchange loss was $3.3 million in Q1 2024, compared to a gain of $2.7 million in Q1 2023, attributed to the strengthening of USD against EUR[178] - Interest income decreased from $0.6 million in Q1 2023 to $0.5 million in Q1 2024, while interest expenses fell from $0.7 million to $0.4 million during the same period[177] Debt and Taxation - Long-term borrowings as of March 31, 2024, amounted to $23 million, including current and non-current portions[184] - The corporate income tax rates in jurisdictions where the company operates range from 0% to 25%[167] - The Company's China subsidiary obtained a long-term loan of RMB 5.6 million ($0.8 million) with an interest rate of 5.2% above the base rate, maturing in March 2034[186] Strategic Positioning - The company is strategically positioned to capitalize on the growing demand for solar energy, particularly in AI and blockchain applications[145]