A First Solar project Photo: First Solar

8point3 posts stronger Q2, yieldco looks to acquire projects

8point3 Energy Partners reports stronger-than-expected fiscal second quarter financial results, while noting that opportunities are likely to emerge later this year and beyond to acquire additional US solar projects for its portfolio.

30 June 2016 16:32 GMT Updated 25 October 2016 15:59 GMT

By Richard A. Kessler in Fort Worth

Adjusted EBITDA for the quarter ending 31 May was $17.4m and cash available for distribution (CAFD) totaled $10.3m. The yieldco owned 50% each by First Solar and SunPower had $13.5m revenue and a $0.2m net loss.

First quarter EBITDA was $7.7m and net loss $7m.

"We were pleased with our second quarter performance as we exceeded our financial targets in addition to raising our quarterly shareholder distribution by 3.5%,

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