Sunrun cuts losses increases annual deployment by 76%
Mar 11, 2016 10:39 CET
March 11 – US residential solar company Sunrun Inc (NASDAQ:RUN) on Thursday reported narrower losses for the fourth quarter and full year 2015 as annual installations grew 76%.
The company’s fourth-quarter net loss attributable to common stockholders shrank to USD 15 million (EUR 13.4m) from USD 26.7 million a year ago, while the annual deficit was reduced to USD 28.2 million from USD 70.9 million in 2014.
During 2015, Sunrun deployed 203 MW of solar systems, slightly below its guidance of 205 MW, mainly due to the closure of the Nevada market. That represented a year-over-year organic growth of 76%. Bookings were up 85% on the same basis to 274 MW.
In 2016, the company expects to boost deployment to 285 MW, with its Sunrun built business seen to grow at a nearly 100% rate.
In the final quarter of 2015 bookings were up by 117% year-on-year to 80 MW, while deployments grew 83% to 68 MW. The company expects to install 56 MW in the first quarter of 2016 after removing 12 MW of backlog from Nevada.
Sunrun, which has now deployed a total of 596 MW, created USD 50 million of net present value (NPV) in the quarter, up 1% from the third quarter and 115% since the first quarter of 2015.
(USD 1.0 = EUR 0.895)
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