Emeren Group reported Q2 2024 revenue of $30.1 million, down from $33.8 million in Q2 2023, with gross profit of $9.4 million and net income of $0.7 million. The quarter saw strong performance from IPP assets contributing 29% of total revenue, while EPC services revenue increased by $3.8 million. Operating profit reached $3.0 million with a gross margin of 31.2%.The company's project pipeline remains robust with 7.8 GW of solar projects and 7.9 GW of storage projects under development across Europe, US, and China. Notable achievements include signing a 42 MWp solar project portfolio sale in Spain and securing over $50 million in DSA contracts in Italy. The company's IPP portfolio expanded to 264 MW of solar PV projects and 26 MWh of storage capacity.Looking ahead, Emeren is focusing on expanding its DSA business...Show More

Emeren Group reported Q2 2024 revenue of $30.1 million, down from $33.8 million in Q2 2023, with gross profit of $9.4 million and net income of $0.7 million. The quarter saw strong performance from IPP assets contributing 29% of total revenue, while EPC services revenue increased by $3.8 million. Operating profit reached $3.0 million with a gross margin of 31.2%.The company's project pipeline remains robust with 7.8 GW of solar projects and 7.9 GW of storage projects under development across Europe, US, and China. Notable achievements include signing a 42 MWp solar project portfolio sale in Spain and securing over $50 million in DSA contracts in Italy. The company's IPP portfolio expanded to 264 MW of solar PV projects and 26 MWh of storage capacity.Looking ahead, Emeren is focusing on expanding its DSA business in Solar and Battery Energy Storage Systems across Europe and the U.S. The company maintains a strong financial position with $50.8 million in cash and cash equivalents, and positive working capital of $167 million. Management remains confident in meeting working capital and capital expenditure needs for 2024, supported by continued financing from financial institutions and fund investors.