#Solar
#Stocks On the Move – Affordability and Accessibility Increases Consumer
Interest; (OTCQB: $SING) (NASDAQ: $SPWR) (NYSE: $NEE) (NYSE: $VSLR)
Point
Roberts, WA and Delta, BC - June 21, 2019 (Investorideas.com Newswire) Investorideas.com, a leading
investor news resource covering solar stocks releases a sector snapshot
reporting on the continued upswing for the residential side of the solar sector
as more states adopt new energy policies and as solar becomes more affordable
and accessible to residential consumers.
Companies featured include SinglePoint Inc. (OTCQB: SING), SunPower Corporation (NASDAQ:SPWR), NextEra Energy,
Inc. (NYSE: NEE) and Vivint Solar,
Inc. (NYSE: VSLR).
A recent Benzinga news article looking at solar
stocks quoted, “Goldman Sachs recently upgraded residential solar stocks, which
are making a big comeback so far in 2019, with the INVESCO EXCHANG/SOLAR ETF up 48.5%
year to date. However, one Wall Street analyst said Tuesday residential solar
stocks will continue to shine in the second half of the year.”
Goldman Sachs analyst Brian Lee commented, “We are
incrementally positive on US residential solar stocks and see a number of
tactically attractive buying opportunities ahead of 2H19 volume tailwinds and
amidst recent signs of ongoing strength in the financing environment.”
SinglePoint
Inc. (OTCQB: SING), a new player in the solar sector recently announced that its
acquisition, Direct Solar has surpassed everyone’s expectations signing
contracts to deploy $1,709,460 in solar installs over the previous 30 days.
This revenue should generate approximately $803,769 in gross and $361,541 in
net. Direct Solar and SinglePoint also announced the official addition of three
new service areas with a fourth on the way. Tampa, Orlando and St. Louis are
officially active and Miami will be activated in the near future. The company
has now deployed teams in these areas to drive the explosive growth of Direct
Solar.
From a cash flow standpoint, these numbers have quickly
put SinglePoint on the path to profitability. Management from both companies
are very excited to see the continued growth of Direct Solar through multiple
avenues including commercial. Direct Solar is currently negotiating a line of
credit for cannabis businesses and other small businesses throughout North
America. This provides Direct Solar the ability to not only generate the sale
but to also provide the financing for these business owners. Providing
financing will deliver Direct Solar another avenue towards generating profits
on the origination of the financing.
“This acquisition puts SinglePoint on a huge trajectory
path. This is not only a homerun but a grand slam in our eyes. These revenues
and profits provide SinglePoint the ability to be in a profitable cash flow
position and the opportunity to aggressively expand sales. For every dollar we
are putting into marketing we are seeing a return of five. Expanding in
additional major markets would exponentially increase the revenues on top of
the already explosive growth,” states Greg Lambrecht, CEO of SinglePoint.
SunPower Corporation (NASDAQ:SPWR) recently announced that with Hannon Armstrong Sustainable Infrastructure Capital, Inc. and SunStrong Capital Holdings, LLC, it has
secured financing commitments for its residential solar lease program that will
help meet SunPower's expected customer demand into 2020. SunPower has provided
solar lease financing options to customers since 2010. The attractive financing
provisions with this new fund will supplement the solar loan and cash sale
alternatives currently offered by the company.
The new
fund is structured as a levered tax equity partnership with a multi-party
forward purchase commitment, allowing generation of upfront cash margins for
residential solar leases. The financing commitments for this new fund are being
provided largely from a repeat group of loan and equity providers that continue
to have strong long-term relationships with SunPower and Hannon Armstrong.
"SunPower's
strong suite of acquisition options, and our technologically superior solar
energy solutions allows us to continue meeting growing customer demand,"
said Tom Werner, SunPower CEO and Chairman of the Board. "Thanks to our
financing partners who share our clean energy future goals, we're able to
ensure funding to meet the needs of those customers who desire a leasing
option."
"This
latest fund continues our multi-year programmatic investment with SunPower,
helping to decarbonize the residential sector using solar, one of the climate
solutions essential to mitigating climate change," said Jeffrey Eckel,
Hannon Armstrong President and CEO. "We are especially pleased with the
expansion of SunStrong's role in this innovative fund as it demonstrates the
increased financial capabilities of this new joint venture with SunPower."
NextEra Energy, Inc. (NYSE: NEE) recently received a best-in-class preparedness assessment
in S&P Global Ratings' Environmental, Social and Governance (ESG)
Evaluation. NextEra Energy's final ESG Evaluation score, 86, is expected to be
one of the highest rankings to be given by S&P Global Ratings to any
corporate entity within the sector. The best-in-class preparedness assessment,
which is anticipated to be applied by S&P Global Ratings only in rare
circumstances, reflects NextEra Energy's ability to identify long-term risks
and develop and implement plans to mitigate these challenges into new
opportunities, distinguishing the company from its peers amid the disruptive
forces facing the industry. S&P Global Ratings assessed NextEra Energy's
preparedness for all of the company's ESG factors as either good, strong or
leading, the top three possible scores. The report specifically highlights
NextEra Energy's clean generation profile, code and values, strong safety
management program, and leading customer engagement driven by low bills, high
reliability and outstanding customer service.
"We
are pleased to be recognized for our leading ESG efforts by S&P Global
Ratings," said Jim Robo, NextEra Energy Chairman and CEO. "We are
deeply committed to doing well by doing good, and that means respecting our
environment, providing value for our customers, sustaining our communities,
focusing on continuous improvement and innovation, investing in our team and
growing shareholder value. Today, we are furthering our commitment to the
environment with the announcement of a new goal to continue reducing our carbon
dioxide emissions. This goal underscores our deep commitment to environmental
protection and stewardship, one of the key areas of our company's
sustainability efforts. At NextEra Energy, we firmly believe that we have an
unprecedented opportunity to shape how energy is produced and delivered. By
investing in smart infrastructure and innovative clean energy solutions, we're
helping build a sustainable energy future that is affordable, efficient and
clean, while at the same time creating tens of thousands of jobs and generating
economic benefits for the communities we serve."
The
company also recently reported their first quarter 2019 financial
results. "NextEra Energy delivered strong first-quarter results and is
well-positioned to meet our overall objectives for the year," said Jim
Robo. "We grew adjusted earnings per share by approximately 12%
year-over-year, reflecting excellent performance across our businesses. During
the quarter, FPL successfully brought online the Okeechobee Clean Energy
Center, which is among the cleanest, most fuel-efficient power plants of its
kind in the world, on budget and ahead of schedule, and continued to execute
one of the largest-ever solar expansions. The Gulf Power integration continues
to advance well, and I am confident in our ability to execute our plan for the
benefit of customers and shareholders. NextEra Energy Resources continues to
capitalize on the best renewables development period in our history with the
addition of nearly 1,000 megawatts to its contracted renewables backlog.
Combined with the strength of our balance sheet and credit ratings, we continue
to believe NextEra Energy is uniquely positioned to drive long-term shareholder
value and remain as enthusiastic as ever about our future prospects. I will be
disappointed if we are not able to deliver financial results at or near the top
end of our 6% to 8% adjusted earnings per share compound annual growth rate
range through 2021, off the 2018 base of $7.70 per share, plus the expected
deal accretion from the Florida transactions."
Vivint Solar, Inc. (NYSE: VSLR), a leading full-service residential solar provider, announced the closing of a multi-party forward flow funding
arrangement that includes project-level debt, a levered tax equity partnership,
and a cash equity investment. The transaction provides up to $360 million in
total funding commitments. It is structured to generate an upfront cash margin
for the company for approximately 95 to 100 megawatts of future solar energy
systems. The financing incorporates a multi-party forward purchase commitment
anchored by a levered tax equity partnership, a financing structure used last
year by Vivint Solar for the first time in the residential solar industry.
Bank of America Merrill Lynch acted
as sole structuring and placement agent for the cash equity and multi-draw term
loan as well as the sole tax equity investor. Hannon Armstrong (NYSE:HASI)
participated as the structured cash equity investor.
"This transaction demonstrates investors confidence
in the continuing success of our business model, and its pricing reflects the
ongoing growth in revenue generated by our systems," said Vivint Solar
CEO, David Bywater. "Investors are seeing the trajectory of our unit
economics, and we appreciate the ongoing support of Bank of America Merrill
Lynch along with Hannon Armstrong's continued programmatic investment."
"The innovative forward flow funding structure gives
Vivint Solar financial flexibility through the cash margin provided by this vehicle
for a portion of our future PPA and lease assets," said Vivint Solar's
Chief Commercial Officer and Executive Vice President of Capital Markets,
Thomas Plagemann. "While our focus is always on providing the best suited
products for each homeowner, it is equally important to develop a sustainable
funding model so we can continue growing."
As investors continue to gain confidence in solar, a
snowball effect of consumer awareness and cost effectiveness, even in the midst of tariff turmoil, may allow solar to continue to gain throughout 2019 as
many analysts already predict.
For investors
following solar stocks, Investor Ideas has created a stock
directory of renewable energy stocks
as part of its membership. Learn more https://www.investorideas.com/membership/
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