ReneSola Ltd
NYSE:SOL
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ReneSola Ltd
ReneSola Ltd. is a pure solar project developer and operator. The company is headquartered in Stamford, Connecticut. The company went IPO on 2008-01-29. The firm focuses on solar power project development, construction management and project financing services. The company develops and sells solar power projects and owns and operates solar power projects and sells the electricity generated by its operated solar power plants (IPP business). Its project development business is primarily focused in the United States, Hungary, Spain, France and in the United Kingdom. The company is focused on small-scale distributed generation (DG) projects and community solar gardens. Its project development business is focused on small-scale DG projects, specifically commercial projects, small-scale utility projects and community solar gardens, in various countries including China, the United States, Canada, the United Kingdom and France. The company conducts its IPP business and/or project development business in countries, such as United States, Canada, China, Hungary, Spain, France, United Kingdom and Romania.
ReneSola Ltd. is a pure solar project developer and operator. The company is headquartered in Stamford, Connecticut. The company went IPO on 2008-01-29. The firm focuses on solar power project development, construction management and project financing services. The company develops and sells solar power projects and owns and operates solar power projects and sells the electricity generated by its operated solar power plants (IPP business). Its project development business is primarily focused in the United States, Hungary, Spain, France and in the United Kingdom. The company is focused on small-scale distributed generation (DG) projects and community solar gardens. Its project development business is focused on small-scale DG projects, specifically commercial projects, small-scale utility projects and community solar gardens, in various countries including China, the United States, Canada, the United Kingdom and France. The company conducts its IPP business and/or project development business in countries, such as United States, Canada, China, Hungary, Spain, France, United Kingdom and Romania.
Revenue & Margins: Emeren reported Q4 revenue of $34.6 million (down 23% YoY, but up 169% QoQ) and gross margin of 13.9% (up from 11.3% YoY, but down from 43.8% QoQ). Full-year 2024 revenue was $92.1 million with a 26% gross margin.
Profitability: The company posted a Q4 net loss of $0.8 million due mainly to foreign exchange losses, but achieved over $5 million in free cash flow for the quarter. Full-year net loss was $12.5 million.
Cash Position: Ended 2024 with $50 million in cash, up 40% sequentially, and expects higher cash at the end of 2025.
2025 Guidance: Full-year 2025 revenue expected between $80 million and $100 million, with gross margin of 30% to 33%. IPP and DSA segments will contribute over 70% of revenue.
Growth Drivers: Strong pipeline with $84 million in contracted DSA revenue and $100 million under negotiation, mainly in Europe and the U.S.; expects the majority of new DSA contracts to close within 2025.
Project Delays: Some Q4 project sales were delayed due to government approvals, but are expected to close in H1 2025, supporting revenue visibility.
Energy Storage: Continued expansion in energy storage with new projects and integration into virtual power plants, especially in China and Europe.
