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Dear SOLO Stock Fans, a Big Catalyst Is Rolling Out Today

Today, one of the electric vehicle (EV) stocks in focus for investors today is ElectraMeccanica (NASDAQ:SOLO). Despite opening around yesterday’s close,…

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Today, one of the electric vehicle (EV) stocks in focus for investors today is ElectraMeccanica (NASDAQ:SOLO). Despite opening around yesterday’s close, shares of SOLO stock are currently more than 4% lower at the time of writing.

Source: Luis War / Shutterstock.com

This move is perhaps unsurprising on some levels. Various speculative EV stocks have seen selling pressure across the board today. Accordingly, perhaps it’s not necessarily a good day to be looking at EV stocks.

Among the key factors playing into the concern investors are showing today are risks of rising rates. Bond yields have come up meaningfully over the past month. Currently, the 10-year U.S. Treasury yield continues to sit above 1.5%. Additionally, risks related to tapering happening sooner than expected, as well as the potential for interest rate hikes, have growth investors on watch.

Furthermore, chip shortages and other supply-chain-related concerns are eating away at EV valuations.

That said, there are reasons why some investors may want to be bullish on SOLO stock. Let’s dive into why Oct. 4 is a big day for ElectraMeccanica investors.

SOLO Stock Lower, Despite Customer Deliveries Beginning

Earlier last month, it was announced that customer deliveries of the SOLO EV would begin Oct. 4. This announcement was met with enthusiasm, and shares began to take off. However, in recent days, investors appear to have taken on an increasingly risk-off approach to growth stocks.

Accordingly, SOLO stock has underperformed in recent weeks. Over the past week alone, shares of SOLO stock are down more than 13% at the time of writing. That’s a significant decline.

Today’s special launch event may not have inspired the kind of buying pressure investors had hoped for. However, this news is important for investors banking on growth in the three-wheeled EV segment. ElectraMeccanica provides a very unique product in a niche that’s underserved. Investors looking for EV options out of the mainstream, with impressive growth potential, have reason to consider this stock.

Will SOLO stock recover following the events of recent weeks? Will this quarter bring the revenue growth investors are looking for? Time will tell.

However, for now, SOLO stock looks like an intriguing one to keep on the watch list.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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The post Dear SOLO Stock Fans, a Big Catalyst Is Rolling Out Today appeared first on InvestorPlace.

Author: Chris MacDonald

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Energy & Critical Metals

The UK records a 1.1GW increase in renewable PPAs

According to Cornwall Insight’s ‘Renewable PPA market share report’, the market for renewable PPAs is showing increased capacity despite challenges…

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According to Cornwall Insight’s ‘Renewable PPA market share report’, the market for renewable PPAs is showing increased capacity despite challenges in the sector.

In fact, Cornwall Insight assessed a total of 30,710 MW of renewable PPA capacity, a 1,190MW increase from the company’s previous report, which assessed capacity as of September 2020.

Below is a graph that highlights the publicly announced capacity since August 2019. It also shows that the majority of this new capacity came from projects commissioning under the Contracts for Difference (CfD) scheme. As of March 2021, Cornwall Insight identified 905 MW of active CfD capacity signed to a PPA, with a further 3.7 GW of capacity signed to PPAs but not yet operational.

Lee Drummee, Analyst at Cornwall Insight, said: “Corporate Power Purchase Agreements (CPPA) have been increasing in recent years as the market matures and generators seek alternative routes to market to use subsidies. In addition, since the Renewables Obligation and Feed-in Tariff schemes closed to new capacity there has been a gap in the market for generators outside of the CfD, with CPPAs becoming increasingly crucial for generators looking to secure revenues for projects. Similarly, CPPAs have become an effective way for businesses to prove their green credentials.

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“The majority of CPPAs that we have identified have been signed with new-build subsidy-free projects, with solar PV and wind the preferred technologies akin to a more positive attitude from the public towards these asset types, as well as their levelised cost advantages.

“The length of CPPAs analysed in the report varies considerably, ranging between 4 and 25 years, with the most common deal lengths being 10 and 15 years. The longer-term deals tend to be signed with new build projects, needing greater revenue security to develop.

“While subsidy-free PPAs have been more common with corporate buyers, subsidy-free deals between utilities and generators have gained traction. Since we actively began to track these deals in August 2019, we have identified PPAs for 3.8GW of new build capacity. Whilst the vast majority (2.5GW) is with CfD assets. Large portions are also made up of subsidy-free CPPAs (890MW) and subsidy-free utility PPAs (420MW). Over the same timeframe, approximately 2.1GW of existing assets signed new PPA deals, with 1.9GW being signed with a utility offtaker and just 120MW purchased by a corporate buyer.

“While liquidity in the long-term PPA market seems to have improved, right now, developers will be weighing up their options between CfD Allocation Round 4 and alternative routes to market such as utility PPAs and CPPAs.

“Away from PPAs for new build assets, we noted that activity in the short-term PPA market has been buoyed by the continued rise in power prices with competition levels remaining high. However, recently levels of volatility in the wholesale market are creating a different set of challenges, often making fixed priced deals more challenging to offer.”

The post The UK records a 1.1GW increase in renewable PPAs appeared first on Power Engineering International.

Author: nicholasnhede

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Burundi’s first grid-connected solar farm reaches commercial operation

A pioneering 7.5MW solar PV plant has reached commercial operation in Burundi, increasing the country’s generation capacity by over 10%.
The post Burundi’s…

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A pioneering 7.5MW solar PV plant has reached commercial operation in Burundi, increasing the country’s generation capacity by over 10%.

It’s the country’s first substantial energy generation project to go online in over three decades, supplying clean power to tens of thousands of homes and businesses.

The plant near the village of Mubuga supports international efforts to increase renewables and climate finance, especially for the world’s most vulnerable communities.

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UK Minister for Energy, Clean Growth and Climate Change, Greg Hands, said: “Today’s launch of Burundi’s first grid-connected solar farm will light up the nation’s energy system. It will strengthen the national grid supply and propel forward a promising future for the country in clean, green energy.

“Set to increase Burundi’s power generation capacity by 10%, this pioneering project, backed by UK government funding, is a fantastic example of countries working together ahead of COP26. Investing in a green future benefits the economy and the planet.”

The six-year process of building the solar plant was led by energy developer and independent power producer Gigawatt Global.

Financing for the construction of the project was provided via a consortium including pan-African private equity investor Inspired Evolution, the UK government-funded Renewable Energy Performance Platform (REPP – managed by Camco Clean Energy), and Gigawatt Global.

The construction loans are being refinanced by the US International Development Finance Corporation (DFC).

Additional support for the project was provided directly and indirectly from the Energy and Environment Partnership (EEP – a fund set up by Finland, the UK and Austria), the Belgian Investment Company for Developing Countries (BIO), Trinity International has advised the Gigawatt Global and Inspired Evolution equity teams since 2017. Engineering, procurement and construction services were provided by French firm Voltalia, and political risk re-insurance is provided by DFC.

Gigawatt and Voltalia Teams. Image credit: Gigawatt Global

Gigawatt Global CEO Josef Abramowitz said: “We thank our impact investors and strategic partners, as well as the Burundi government, for joining forces to accomplish this historic milestone on the road to climate justice and fulfilling many of the UN’s Sustainable Development Goals.”

Abramowitz, who was nominated by 12 African countries for the 2021 Nobel Peace Prize for his pioneering commitment to green energy access, continued: “Green energy projects that serve the most vulnerable communities should be prioritized by the international community.”

The Burundi field recently received the award for “Project of the Year” from EEP.

Gigawatt Global is also building a community centre powered by solar energy that will offer local access to productive use of electricity.

The centre will focus on community development through women’s empowerment and youth and employment programs, along with various educational components being developed with local and international NGOs.

The post Burundi’s first grid-connected solar farm reaches commercial operation appeared first on Power Engineering International.

Author: Pamela Largue

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Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths

Let’s get into it. Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective. It’s in an … Read More
The post Chart of the Day:…

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Let’s get into it.

Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective.

It’s in an uptrend. The moving averages are sloping up.

It’s shown us that when it wants to the market can get a hold of it – as evidenced by the fierce run from 1.5c to 6c at the start of this year.

 

Chart of the Day: Ionic Rare Earths (ASX:IXR)

There are no immediate gaps on the chart to worry about that need to be filled.

The company surpassed 4c resistance yesterday on increasing volume, which was a positive sign. However, after touching 4.5c in intra-day trade, it has now settled back to close at 4.2c, leaving a daily selling candle.

That infers that a test of 3.8 – 4c may be on the cards.

In our view that would make attractive buying.

Given the negative response to the scoping study in late April, there are plenty of immediate upside targets, the most immediate being 4.7c, with further potential to those March highs above 6c.

Back the other way, and we don’t need to hold this below 3.5c.

The company is well funded – reporting over $11m on balance sheet at their last quarterly – with an updated quarterly anticipated before the end of the month.

We are long as of yesterday, and will manage the trade to the above risk, looking for 4.7c first, with potential to above 6c if things go their way.

Steve Collette of Collette Capital Pty Ltd (ABN 56645766507) is a Corporate Authorised Representative (No. 1284431) of Sanlam Private Wealth (AFS License No. 337927), which only provides general advice.

Collette Capital only makes services available to professional and sophisticated investors as defined by the Corporations Act, Section (s)708(8)C and 761G(7)C.

The Collette Capital Wholesale IMA Strategy has returned +24.83% p.a. net of all fees as at the end of September 2021 since inception in January 2015 (using the Time Weighted Return method of calculating returns).

Learn more at www.collette.capital

The post Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths appeared first on Stockhead.


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