Greetings to all my fellow solar enthusiasts! As a passionate blogger and self-proclaimed solar expert, today I’m here to shed light on the happenings in the world of solar companies, particularly focusing on the intriguing developments with SolarEdge, an Israel-based inverter manufacturer.
It’s been revealed that the U.S. investment firm, BlackRock, has ramped up its stake in SolarEdge to a healthy 15.8%, a significant leap from the 9% it held in April 2023. Evidently, BlackRock sees the value in investing in the solar sector, and this move has established it as the largest shareholder in SolarEdge.
The solar company’s journey hasn’t all been smooth sailing, having announced a disheartening net loss of $61.2 million in their recent financial results, accounted for the third quarter of 2023. However, let’s not lose sight of the radiant possibilities here. SolarEdge still managed an impressive $725 million in revenues for the same period, of which a whopping $676 million came from its solar segment.
Despite the financial turbulence, this solar company, which plays a key role in many solar arrays for home, holds promising projections for the final quarter of their financial year, expecting revenue figures around the $325 million mark. This is a testament of the resilience and vitality in the solar industry.
As someone keenly interested in solar panels for your home or larger solar installations, it’s essential to cast an eye on the financial landscape of solar companies. SolarEdge, for instance, has experienced a share price slump in 2023, dipping by almost 80% since its peak in 2021 and exiting the S&P 500 Index in December. Given such turbulence, it’s more important than ever to stay educated, informed, and aware when considering your solar investment avenues.
In this context, our eyes are on SolarEdge and its longtime supporter, BlackRock. As we observe their progress in the turning tides of the solar industry, it’s clear that investing in solar, while presenting its challenges, also offers dynamic potential. If you’re considering solar panels for your home, or any other solar investments, taking note of these movements in the market is a must.
In closing, the ups and downs of SolarEdge remind us of the risk and reward nature of the solar industry. Despite the hurdles, the company illuminates the promising horizon of the solar sector. Here’s to following the sun and the changes it brings to the landscape of renewable energy!
Original Article: https://pv-magazine-usa.com/2024/01/10/blackrock-increases-stake-in-solaredge-to-15-8/
