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Tuesday, July 16, 2019
Monday, July 15, 2019
Millennials Investing in a #Green Future: #Cannabis to #Solar: (OTC: $SING) (Nasdaq: $CSIQ) (TSX: $TGOD.TO) (TSX: NRTH.V)
Millennials Investing in a #Green Future: #Cannabis to #Solar: (OTC: $SING) (Nasdaq: $CSIQ) (TSX: $TGOD.TO) (TSX: NRTH.V)
Point Roberts WA, Delta, BC – July 15, 2019 - Investorideas.com, a leading investor news resource covering cannabis, hemp and solar stocks releases a sector snapshot reporting on green investing trends from renewable energy to cannabis and how millennial investors are driving this movement.
TD Ameritrade’s recent trading data reflected this green investing trend; “Millennials with TD Ameritrade accounts favored buying Tesla, Canopy Growth, Beyond Meat, Uber and Nvidia in June, according to new research from the brokerage platform. What’s interesting — and perhaps alarming to the hardcore over 40-year-old investor — is that all of these companies except for Nvidia are solidly unprofitable. Moreover, it’s wildly unclear when the likes of Tesla, Canopy Growth, Beyond Meat and Uber will turn sustainably profitable.”
This speaks to the many uptrends we’ve seen in solar and renewable energy stocks, along with cannabis and wellness companies as younger investors seem to focus more heavily on concept and environmentalism first, and profitability second. But they may be seeing a greener future as they continue to bet on the sector.
According to a report on the global Solar Panel Market from Zion Market Research, the solar market accounted for USD 30.8 billion in 2016 and is expected to reach USD 57.3 billion by 2022, growing at a CAGR of 10.9% between 2017 and 2022.
The report states, “the Global Solar Panel market is expected to witness positive growth within the forecast period on account of increasing government incentives for the adoption of renewable energy alternatives for power generation. A solar panel uses solar energy to cleanly and efficiently produce electricity. For many years solar was considered as the main pillar of a future renewable energy based system. Demand for a solar panel is increasing prominently all over the world.”
SinglePoint Inc. (OTC: SING), a technology and acquisition company that provides mobile payments, ancillary cannabis services and solar in the United States has been betting on both aspects of this green strategy to ensure a synergistic future. For the hemp component, the company recently announced signing a large contract to supply more than 275,000 pounds of premium hemp flower over a period of 15 months, while the company’s solar subsidiary, Direct Solar has been developing a commercial solar lending solution to serve customers that own and/or manage commercial properties.
Direct Solar will be one of the first companies to offer this type of lending solution and is expected to launch in the next four to six weeks.
Read this in full at https://www.investorideas.com/news/2019/cannabis/07151Stocks-Cannabis-Solar.asp
“Currently there are a lot of residential lending solutions as well as large scale lending for solar farms and high megawatt projects. We have yet to find a solution that will finance projects in the small to medium commercial space. Our financing solution will provide these customers with quick funding turn around and require no personal guarantees. We believe there is enough projects for us to turn $100 Million dollars in lending over the next 9-12 months,” states Pablo Diaz, Founder and CEO of Direct Solar.
“This is a massive opportunity to fill a huge gap in the market. There has not been a solution we’ve found like ours simply because the current model means you are either a lender or installer. Direct Solar being one of the only solar brokers in the market means we can work with the customer to find the right installer and the right lender. Matching these two together is a win-win for everyone involved,” states Brian Odle, National Finance Director, Direct Solar.
Coming off of a major month (May 15, 2019 – June 15, 2019), Direct Solar closed $1,709,460 in solar installs. This revenue should generate approximately $803,769 in gross and $361,541 in net. Additionally, the company added three new major service areas with a fourth on the way. This has all been residential driven. The addition of the commercial solar opportunity should dramatically increase the quick growth the company has already been experiencing.
These numbers quickly put Direct Solar on the path to profitability from a cash flow standpoint. Management from SinglePoint and Direct Solar are very excited to see the continued growth of the solar business through multiple avenues including commercial.
Direct Solar, also recently announced that the company has signed on to become the exclusive solar marketing partner to support the various fall sports programs for 47 Texas schools across Dallas/Fort Worth, Houston, Austin and Waco. Between August 1st and December 31st, 2019, any solar systems that are sold within these school districts will receive a $250 donation to the Fall Sports Booster Program at the school.
“We appreciate the support we have received from Texas. We wanted to find a way to give back to the communities that we have been doing business in and felt what better way to show that support by donating to the Fall Sports Booster Programs,” states Allen Kruse, Marketing Director of Direct Solar.
Canadian Solar Inc. (NASDAQ: CSIQ), one of the world's largest solar power companies, recently announced that its wholly owned subsidiary Recurrent Energy, LLC has signed a 15-year power purchase agreement with Anheuser-Busch, the beverage company who late last year signed an agreement with Tilray, for 310 MWp/222 MWac of electricity from its Maplewood solar project.
This landmark contract is the seventh largest commercial and industrial power purchase agreement for solar energy signed in the entire world to date, according to data supplied by Bloomberg New Energy Finance. The PPA, which marks the early achievement of Anheuser-Busch's 2025 Renewable Electricity goal in the United States, also represents the US beverage industry's largest single purchase of solar energy.
"The signing of this power purchase agreement with Anheuser-Busch, the US beer industry leader, demonstrates Canadian Solar's ability to meet the needs of a diverse array of corporate customers. We're honored to supply affordable clean energy to a C&I customer base spanning the sectors of academia, transportation, traditional energy, and now food and beverages," said Dr. Shawn Qu, Chairman at Canadian Solar. "Looking at publicly announced deals, we are proud to be the leading solar developer in the Texas market, with over 1.3 gigawatts of signed electricity contracts for energy generated within ERCOT's service territory."
The Maplewood solar project, located in Pecos County in the Permian Basin of West Texas, will power the equivalent of 55,000 homes with clean electricity when it begins operations by 2021. Canadian Solar's high efficiency poly modules are likely to be used for the project.
"We take immense pride in being good stewards of the environment and are excited to announce that by 2021 our entire portfolio of beers will be brewed by using 100 percent renewable electricity from solar and wind power," said Ingrid De Ryck, Vice President, Procurement and Sustainability at Anheuser-Busch. "Through our new partnership with Recurrent Energy, we will be able to complete one of our 2025 U.S. sustainability goals four years ahead of schedule."
Some companies like The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTC: TGODF), have built their whole company around “green initiatives” with their main focus being on recyclable packaging, LED efficient lighting and hybrid facilities which allow for absorption of natural sunlight, environmental advocacy as well as organic certification. The company recently announced that its flagship Valleyfield, QC facility has received its organic certification from Pro-Cert, an internationally recognized leader in organic certification.
Once completed, TGOD's Valleyfield facility is going to be the world's largest organic cannabis facility at over 1.3 million square feet. This Pro-Cert recognition adds another certification to the Company's portfolio, in addition to TGOD's already certified organic growing facilities in Canada and Europe and shows TGOD's commitment to cement its position as the leading organic cannabis brand globally.
"It's exciting to reach new milestones as we begin commercial production. Growing certified organic cannabis at scale is a highly complex process which has taken time, great care and extensive research to refine. Each of our facilities goes through a robust certification process, in line with the high standards we have set, ensuring operational excellence at all stages," commented Brian Athaide, CEO of TGOD. "The proprietary methods our team has developed leverage the benefits of growing in living soil and guarantees the organic integrity of the products throughout the entire production chain."
Pro-Cert's certification programs are ISO 17065 compliant and accredited, providing global recognition and international access to the products and brands they certify. The certification process includes validation of inputs, production methods and preparation procedures according to Canadian organic product regulation.
While solar may be the future for many, there is also some movement in outdoor operations to reduce energy needs as 48North Cannabis Corp. (TSXV: NRTH) (OTC: NCNNF) announced that it has completed the planting of its first outdoor cannabis crop at its Good:Farm, Canada's largest outdoor organic cannabis cultivation facility (3.7 million sq. ft. of cultivation space) in Brant County, Ont.
48North has successfully planted more than 250,000 cannabis seeds at Good:Farm. At the farm, 48North has planted 10 unique cultivars proven to be successfully grown outdoors; both high-THC and high-CBD strains were selected for planting. The Company expects two harvests annually at the Good:Farm. The first harvest is planned for late-August and will be exclusively the Company's auto-flowering strains; the second harvest, of photoperiod plants is planned for mid-October.
Good:Farm, Canada's first and largest outdoor organic cannabis facility has the potential capacity to yield more than 40,000 kg of dried cannabis, at what 48North expects to be the lowest cost per gram in the country.
"Planting nearly 100 acres of organic cannabis outdoors was a significant accomplishment for the organization, relying on both established agricultural practices and innovative cannabis production techniques. Our team of expert farmers and growers ensured this ground-breaking task was a success," said Jeannette VanderMarel, co-CEO of 48North.
Good:Farm has a number of strategic advantages, including ultra-low-cost cannabis as well as environment-friendly and energy-efficient production. In addition, the farm's production will help address the current national shortage of recreational cannabis.
There are a myriad of factors driving millennial investors towards a ‘greener outlook’, from climate change, rising energy demands, the cost of plastics and investor awareness, but the main element seems to really be investing in a better future, even at the risk of short term profitability.
“They are buying what they know — but they should research these companies,” JJ Kinahan, Chief Market Strategist at TD Ameritrade said on Yahoo Finance’s ‘The First Trade’ which shows the disconnect between the past 30 years of investing and the future of investing. While previous styles of investing showed research being heavily based only on financials and profitability first, the big picture now is just as much a priority, as companies like Tesla and Canopy Growth have shown. For Millennials, it’s their future and they invest in what they spend on, which is the mantra of one of the best loved investors in our history, Warren Buffett.
For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
About Investorideas.com - News that Inspires Big Investing Ideas
Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and sector trends from Investorideas.com with our news alerts , articles , podcasts and videos talking about cannabis, crypto, technology including AI and IoT , mining ,sports biotech, water, renewable energy and more . Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye Podcast and column covering developments in AI.
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Tuesday, June 25, 2019
Monday, June 24, 2019
Investors Profiting with #Solar #Stocks as Residential and Commercial Solar see Bullish 1st Quarter – (OTCQB: $SING) (NYSE: $VSLR) (NASDAQ: $SUNW) (NASDAQ: $SPWR)
Investors Profiting
with #Solar #Stocks as Residential and Commercial Solar see Bullish 1st Quarter
– (OTCQB: $SING) (NYSE: $VSLR) (NASDAQ: $SUNW) (NASDAQ: $SPWR)
Point Roberts WA,
Delta BC – June 24, 2019 - Investorideas.com, a leading investor
news resource covering solar stocks releases a sector snapshot reporting on the continued growth in solar
installations in both residential and commercial zones as more businesses and
consumers realize the benefits of solar and as it becomes more readily
available and affordable for both.
Featured solar stocks include Singlepoint Inc. (OTC: SING) through its subsidiary Direct Solar, Vivint
Solar Inc. (NYSE: VSLR), Sunworks, Inc. (NASDAQ: SUNW) and SunPower Corporation (NASDAQ: SPWR).
Read
this in full at https://www.investorideas.com/news/2019/renewable-energy/06241ResidentialCommercial-Solar.asp
SolarPower.com recently reported “In the first three months of the year, the U.S.
installed 2.7 gigawatts of solar PV, making it the most solar ever installed in
the first quarter of a year. With the strong first quarter, Wood Mackenzie
Power & Renewables forecasts 25% growth in 2019 compared to 2018, and it
expects more than 13 GWDC of installations this year, as reported in
its new U.S. Solar Market Insight Report.”
“The first quarter data and projections for the rest of
the year are promising for the solar industry,” said Abigail Ross Hopper, President
and CEO of the Solar Energy Industries Association. “However, if we are to make
the kind of progress we need, to make the 2020’s The Solar Decade, we will need
to make substantial policy and market advances.”
A new
survey, conducted by CITE Research on behalf of Vivint Solar Inc. (NYSE: VSLR), revealed 70% of American adults said they
would support a nationwide mandate requiring solar panels to be installed on
all newly built homes. The survey also revealed significant others and
environmental experts are the most influential when deciding to install residential
solar for the good of the environment, while politicians are the least
influential by far.
"California
was the first state to pass a solar panel mandate on new homes and it goes into
effect in 2020. We've seen that state often lead the way in establishing
environmental practices nationwide," said David Bywater, CEO of Vivint
Solar, which has installed solar energy systems on more than 160,000 US homes.
"We believe more states will make strides to adopt residential solar
requirements, and it's great to see the vast majority of American adults
support this, even at a nationwide mandate level. With nearly a million new
single-family homes built annually, if all of them took advantage of solar
energy, it would be equivalent to driving 12 billion fewer miles a year or
consuming 12 million fewer barrels of oil.”
Among
those who support a nationwide solar mandate, 32% said they strongly support it
and 38% said they somewhat support it, while approximately 16% said they
somewhat oppose it and 14% said they strongly oppose it. While there was no
significant difference in attitudes between men and women, opinions varied
based on region, age group, and homeowner and relationship status varied.
As
residential solar is currently optional for existing homeowners, survey takers
were also asked who would most influence their decision to install solar panels
on their home for the good of the environment. Spouses/significant others
proved the most powerful force, with 58% of survey takers claiming they would
be influenced by them (36% a great deal of influence, and 22% some influence).
Environmental experts were the next most influential, with 57% saying they
would be influenced by their opinion (28% a great deal of influence, 29% some
influence).
Politicians
are the least influential, with just 19% of people saying a political figure
would influence their opinion to go solar for the environmental benefits (6% a
great deal of influence, 13% some influence). And while politicians don't rank
highly overall, data shows the older you get, the less likely you are to be
influenced by them. Among survey takers, the percentage who say politicians
have no influence: 46% for those aged 25-34; 49% age 35-44; 59% age 45-54; 64%
age 55-64, and 73% of those aged 65+. Comparatively, 29% of those 25-44 claimed
politicians would have some or a great deal of influence, while only 7% of
those 65+ stated the same.
Direct
Solar, a wholly owned subsidiary of Singlepoint Inc. (OTC: SING)
announced that the company is developing a
commercial solar lending solution. The solution will serve customers that own
and/or manage commercial properties. This is a massive market opportunity that the
commercial space is looking for.
Direct Solar will be one of the first companies to offer
this type of lending solution and is expected to launch in the next four to six
weeks.
“Currently
there are a lot of residential lending solutions as well as large scale lending
for solar farms and high megawatt projects. We have yet to find a solution that
will finance projects in the small to medium commercial space. Our financing
solution will provide these customers with quick funding turn around and
require no personal guarantees. We believe there is enough projects for us to
turn $100 Million dollars in lending over the next 9-12 months,” states Pablo Diaz,
Founder & CEO of Direct Solar.
Offering
this new financing solution will provide Direct Solar with addition revenue and
cash flow, as the company will be receiving commissions on each project that is
funded as well as commission on the installation.
“This is
a massive opportunity to fill a huge gap in the market. There has not been a
solution we’ve found like ours simply because the current model means you are
either a lender or installer. Direct Solar being one of the only solar brokers
in the market means we can work with the customer to find the right installer
and the right lender. Matching these two together is a win-win for everyone
involved,” states Brian Odle, National Finance Director of Direct Solar.
Coming
off of a major month (May 15, 2019 – June 15, 2019), Direct Solar closed
$1,709,460 in solar installs. This revenue should generate approximately
$803,769 in gross and $361,541 in net. Additionally, the company added three
new major service areas with a fourth on the way. This has all been residential
driven. The addition of the commercial solar opportunity should dramatically
increase the quick growth the company has already been experiencing.
These
numbers put Direct Solar on the path to profitability from a cashflow
standpoint very quickly. Management from SinglePoint and Direct Solar are very
excited to see the continued growth of the solar business through multiple
avenues, including commercial.
“This
acquisition puts SinglePoint on a huge trajectory path. The solar market is on
an extreme growth trajectory and Direct Solar has planted its foot right in the
middle of it. Providing installers and financers with qualified customers,
while providing these customers a streamlined process for purchasing solar,”
states Greg Lambrecht, CEO of SinglePoint.
Sunworks,
Inc. (NASDAQ: SUNW), a provider of solar power
solutions for agriculture, commercial and industrial (ACI), public works and
residential markets, recently announced a new 751 kW
solar power construction project for Plumas Mutual Water District, a water
company located in Yuba City, California that distributes water for farming
operations.
Sunworks Chief Executive Officer, Chuck Cargile, said,
“Water districts in California are faced with many challenges, including water
shortages, drought and resiliency challenges. Solar can help address these
issues in a cost effective way while also helping to ensure crop production and
yield are maximized.”
Construction of the new $1.3 million, 751kW ground-mount
system project is expected to commence later this year with revenues recognized
in the fourth quarter and into the first half of 2019.
Joe Danna, Director of Plumas Mutual said, “From our first
meeting, it was clear that the Sunworks team had a strong understanding of our
challenges and goals. They designed a system that was tailored to our
requirements and helped us understand how we can maximize our cost, so we can
serve our customers in a more sustainable and resilient way.”
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.
Bank of
America Merrill Lynch acted as the sole structuring and
placement agent for the cash equity and multi-draw term loan, as well as the
sole tax equity investor. Additional equity capital was provided by SunPower,
Hannon Armstrong and their joint venture SunStrong, which holds equity
interests in more than 55,000 residential solar energy systems.
"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."
SunPower offers its lease program through its network of
residential solar dealers across the US, new home builders where the company
holds a market-leading position, and direct sales teams. Last year, SunPower's
US residential business saw annual deployment growth of more than 15 percent,
bringing the total number of American homes with SunPower® solar to over
275,000 consumers.
Additionally, the company announced that SunStrong has
acquired a residential lease portfolio from Capital Dynamics. This transaction
adds to SunStrong's existing high-quality asset portfolio with the addition of
more than 41 MW and 5,100 residential systems.
This push for solar shows a similar parallel to the
cannabis industry wherein, regardless of federal policies, which in the case of
solar seem to ignore climate change, the American public as well as American
businesses are demanding cheaper and more accessible energy solutions with a
heavy focus on solar. These early growth numbers paint a very obvious picture
as to where American’s see the future of US energy heading, but we will still
have to wait and see if 2019 is in fact going to continue with this first
quarter trend.
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/
About Investorideas.com - News that Inspires
Big Investing Ideas
Investorideas.com
is a recognized news source publishing third party news and press releases plus
we create original financial content. Learn about investing in stocks and sector trends
from Investorideas.com with our news alerts , articles , podcasts and
videos talking about cannabis, crypto,
technology including AI and IoT ,
mining ,sports biotech, water, renewable energy and more . Investorideas.com
original branded content includes the daily Crypto Corner and
Podcast, Play
by Play sports and stock news column, Investor Ideas #Potcasts
#Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye
Podcast and column covering developments in AI.
Disclaimer/Disclosure: Investorideas.com is a
digital publisher of third party sourced news, articles and equity research as
well as creates original content, including video, interviews and articles.
Original content created by investorideas is protected by copyright laws other
than syndication rights. Our site does not make recommendations for purchases
or sale of stocks, services or products. Nothing on our sites should be
construed as an offer or solicitation to buy or sell products or securities.
All investing involves risk and possible losses. This site is currently
compensated for news publication and distribution, social media and marketing,
content creation and more. Disclosure is posted for each compensated news
release, content published /created if required but otherwise the news was not
compensated for and was published for the sole interest of our readers and
followers. Contact management and IR of each company directly regarding
specific questions. Disclosure: this news article featuring SING is a paid for service on Investorideas.com. Learn
more about costs and our services https://www.investorideas.com/News-Upload/
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Friday, June 21, 2019
Thursday, June 20, 2019
#Solar #Stocks Snapshot – Looking at Growth in Residential Solar Industry (OTCQB: $SING) (NASDAQ: $SPWR) (NYSE: $NEE) (NYSE: $VSLR)
#Solar #Stocks Snapshot
– Looking at Growth in Residential Solar Industry (OTCQB: $SING) (NASDAQ:
$SPWR) (NYSE: $NEE) (NYSE: $VSLR)
Point Roberts WA,
Delta BC – June 20, 2019 - 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).
Read
this in full at https://www.investorideas.com/news/2019/renewable-energy/06202Stocks-Solar.asp
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.
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