Aszur Power replaces Trina Solar in the PPVX
Post date: 20/03/2017 - 20:16
Last week Chinese module manufacturer Trina Solar Ltd. announced the completion of its merger with Red Viburnum Company Limited, a wholly-owned subsidiary of Fortune Solar Holdings Limited, pursuant to the agreement and plan of merger dated August 1, 2016. As a result of the merger, the company ceased to be a publicly traded company and became a wholly-owned subsidiary of Fortune Solar. As reported, the company also announced that it has requested that trading of its American depositary shares (ADS) on the New York Stock Exchange be suspended as of March 13, 2017. Therefore, Trina was dropped out of the PHOTON Photovoltaic Stock Index (PPVX) and has been replaced by Azure Power Global Ltd. as of March 14. The Nasdaq-listed Indian developer of solar power plants and independent power producer has been founded in 2007 and is headquartered in Delhi. Its installed capacity reached 1.071 MW at the end of 2016. The company was rated at the PPVX with a Nasdaq closing price of $17.24. The index includes the 30 solar companies with the largest free-float market capitalization worldwide.
The PPVX increased slightly by 1.1% to 1,023 points in the past week. In the same week, the reference value for the NYSE Arca Oil decreased by 0.4%. Since the beginning of this year, the PPVX increased by 6.3%, Arca Oil decreased by 8.7%. Since the beginning of 2003, the PPVX has risen 264% (NYSE Arca Oil +158%). The PPVX currently has a market capitalization of approximately €21.8 billion ($23.4 billion).
The best performances in the last week came from United Photovoltaics (+13.0%), Jinko Solar (+9.2%) und Sino American Silicon (+8.8%). The worst performers were SMA (-7.4%), Daqo New Energy (-7.1%) and REC Silicon (-6.5%).
Since the beginning of this year, the best performers were Shunfeng International (+37.5%), Sino-American Silicon (+37.4%) and Terraform Global (+21.5%). The worst performers were BCPG (-10.0%), Thai Solar Energy (-9.8%) and Sunrun (-6.8%).