Joint Sunpower/First Solar yieldco reports solid quarterly results

Solar stocks have taken a pummelling since mid-June, first because of false association with falling oil prices, and then later due to general market malaise that began with a crash in Asian markets. Yieldcos have been no exception. This includes 8point3 Energy Partners, the joint yieldco of First Solar and Sunpower. Since its initial public offering in June, the company's stock value has fallen by roughly half from around US$20 to close at $10.61 at the end of September. However, despite this grim stock market performance, 8point3 reported solid financial and operational results in its quarterly results, released late Wednesday. At the close of the quarter on August 31, the company reached 301 MW of operational projects, and will be paying out $0.157 per share for the quarter. 8point3 has secured another 131 MW of projects which will come online in the fourth quarter. For that quarter, 8point3 expects to distribute around $0.217 per share. There are a lot ...

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