SeeNews Renewables — US solar systems installer Vivint Solar (NYSE:VSLR) has managed to slightly reduce its third-quarter (Q3) net loss to USD 50.3 million (EUR 47.2m) in 2015 from USD 51.7 million in 2014, as total revenues jumped by 170%.
Net profit available to common stockholders was USD 468,000 against an attributable loss of USD 35.3 million a year back, according to the company’s Q3 financial report that was released on Monday.
Vivint’s operating loss was narrowed to USD 54.4 million from USD 58.4 million, even though total operating expenses rose to USD 76.9 million from USD 66.7 million.
Total revenue increased significantly to USD 22.5 million from USD 8.3 million. The firm booked some 71 MW of new orders in July-September 2015, for a 15% year-on-year rise, and installed about 61 MW, representing a 24% improvement. Its total cumulative installed capacity reached 400 MW.
In August, US renewables major SunEdison Inc (NYSE:SUNE) obtained antitrust clearance to take over Vivint Solar in a USD-2.2-billion deal.
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