Emeren Reports 59% Revenue Drop in Q3 Amid Transition to Commercial Operations and Delayed Project Approvals.

Emeren has reported a 59% decrease in Q3 revenue and EBITDA for the same period as the previous year, largely due to the company’s transition into commercial operation. The company, which is in a transitional period with projects under construction, has a total project pipeline of 7.7GW of solar capacity, including 1.3GW of new capacity in the US alone, more than any other country. Power production accounted for 67% of Emeren’s revenue in the third quarter of this year, highlighting the importance of operation to sales. However, the timing of the final government approval for a 5 MW solar NTP project portfolio in Hungary was delayed, leading to a 42% drop in revenue and 402% drop from one year to the next.