SunEdi­son posts growth in rev­enue

Power Watch India - - FY2012-13 RESULTS -

SunEdi­son re­leased its first quar­ter, 2014 re­sults which shows that the com­pany’s GAAP rev­enue stands at $546.5 mil­lion and GAAP EPS at ($2.31), non-GAAP rev­enue recorded is $577.6 mil­lion and non-GAAP EPS of ($0.25). So­lar en­ergy non-GAAP rev­enue re­lated to 76 MW of so­lar en­ergy sys­tems, 74 MW of so­lar en­ergy sys­tems re­tained and 463 MW un­der con­struc­tion at quar­ter end. So­lar project pipe­line grew to 3.6 GW and back­log was 1.0 GW at end the of the quar­ter. The com­pany claims t o have closed $150 mil­lion of a $300 mil­lion non-re­course re­volv­ing con­struc­tion fa­cil­ity, and a $250 mil­lion non-re­course fa­cil­ity for port­fo­lio ac­qui­si­tions. SunEdi­son fi­nan­cial re­sults for the 2014 first quar­ter re­flects con­tin­ued progress in so­lar projects re­tained in its so­lar en­ergy seg­ment and se­quen­tially im­prov­ing vol­umes in its semi­con­duc­tor ma­te­ri­als seg­ment. So­lar pipe­line grew se­quen­tially, and gross ad­di­tions were 323 MW. Ac­cord­ing to Mr Ah­mad Chatila, Chief Ex­ec­u­tive Of­fi­cer, SunEdi­son, “Dur­ing the 2014 first quar­ter, we con­tin­ued our ef­forts to build and re­tain so­lar projects. We ex­pect 2014 to be a strong year for so­lar project com­ple­tions, based on our grow­ing pipe­line and our project con­struc­tion plans over the next few quar­ters.”

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