PPVX more than doubled since January, Tainergy Tech replaces Vivint Solar
Post date: 11/10/2020 - 19:12
Last week, the PHOTON Photovoltaic Stock Index PPVX exceeded the 100 percent mark of growth compared to the beginning of the year and has thus more than doubled its since then. 3,116 points last Friday, 12.4 percent more than a week earlier, represent a 111.8 percent increase since January. The steep rise is mainly due to the fact that no less than eleven of the 30 companies listed in the index have at least doubled their market value in the course of this year. The three top stocks are Sunrun with a plus of 417.2 percent, followed by Enphase (317.8 percent) and Daqo New Energy (283.8 percent). In contrast, only four PPVX companies have a negative share price balance since the beginning of the year, and this to a much lesser extent than the gains posted at the other end of the scale. The largest losses have been suffered by BCPG (20.4 percent), SPCG (3.1 percent) and Maxeon Solar (2.8 percent).
The highest price gains last week were recorded by JinkoSolar Holding (42.4 percent), Shinsung E&G (39.4 percent) and Daqo New Energy (32.1 percent), while the highest losses were recorded by Sunrun (6.6 percent), 7C Solarparken (2.7 percent) and SPCG (2.6 percent).
The takeover of the US solar company Vivint Solar by its competitor Sunrun, announced on July 6, was already completed on October 8; this was originally planned for the end of the year. As a result, Vivint Solar left the PPVX effective October 8. The vacant place has been taken by Taiwanese cell and module manufacturer Tainergy Tech Co. Ltd.
In the course of the takeover of Vivint Solar, the shareholders received 0.55 Sunrun shares for each share they hold. Upon completion of the transaction, Sunrun has a market capitalization of approximately $14.1 billion at Friday’s closing price, the third highest market capitalization of any PPVX company after Solaredge ($15.4 billion) and Xinyi Solar ($15.1 billion).
PPVX newcomer Tainergy, on the other hand, is the lowest valued PPVX stock with a market capitalization of $6.44 billion Taiwanese dollars ($224.9 million). The Taipei-based company, founded in 2007, has been listed on the Taiwan Stock Exchange since 2011 and is active in the production of mono- and polycrystalline solar cells and solar modules. An important part of its business is the production of small modules for supplying technical devices. Flexible and foldable modules are also part of its product range, which also includes mobile and stationary storage systems. The most recent, but already several years old, internationally distributed reports on production capacity included almost 1.2 GW at locations in Vietnam, China and Taiwan.