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Solar Stock News Bite - Emeren Group's (NYSE: SOL), Board of Directors Approves an Accelerated Stock Repurchase Program up to $10 million


February 13, 2024 ( Newswire) ( Solar Stock News Bites - Emeren Group Ltd ( (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced that its Board of Directors has approved an accelerated stock repurchase (ASR) program of up to $10 million and could be completed by the end of March 2024. This ASR is incremental to the $11 million remaining authorization in Emeren's buyback program at the end of Q3 2023.

Yumin Liu, CEO of Emeren Group, stated, "This accelerated stock repurchase program underscores the Board's confidence in the company's future growth and its commitment to delivering shareholder value. With our expertise in solar project development, strong industry network, and solid balance sheet, we are making significant progress towards becoming an industry leading global solar and storage developer. Our strategic focus remains on maintaining a lean cost structure and achieving sustainable profitability, while monetizing our extensive advance-stage project pipeline."

The stock is trading at $2.0994, up $0.3194 (+17.9438%) on the news.

Read the company's full news and disclaimer here:

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