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Vivint Solar announced Q1 2019 results

Power News - Published on Mon, 13 May 2019

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Vivint Solar Inc announced financial results for the first quarter ended March 31, 2019.

First Quarter 2019 Operating Highlights

Key operating and development highlights include:

MW Installed of approximately 46 MWs for the quarter. Total cumulative MWs installed were approximately 1,107 MWs.
Installations were 6,514 for the quarter. Cumulative installations were 161,112.
Estimated Gross Retained Value increased by approximately USD 54 million during the quarter and is approximately USD 2.1 billion. Estimated Gross Retained Value per Watt at quarter end was USD 2.04.
Cost per Watt was USD 3.46, an increase from USD 3.18 in the fourth quarter of 2018 and an increase from USD 3.22 in the first quarter of 2018.
Margin created was USD 45 million, a 29% increase from the first quarter of 2018. Unlevered NPV per Watt was USD 0.99.

Financing Activity
As of March 31, 2019, the company had USD 305 million in undrawn capacity in the aggregation facility, USD 30 million in undrawn capacity in the forward flow loan facility, and approximately 59 MWs of undeployed tax equity financing capacity.

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Posted By : Rabi Wangkhem on Mon, 13 May 2019
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