Solar company Emeren gets takeover proposal, says CEO to step down (updated)

Emeren

28/03/2025 10:28

Adds details from paragraph 2

March 28 (Reuters) - Renewable energy company Emeren SOL.N said on Friday it has formed a special committee to evaluate a buyout proposal it received earlier this month.

The company did not disclose the name of its potential acquirer or the price, if any. It had a market capitalisation of $83.14 million as of Thursday's close.

Emeren also said CEO Yumin Liu would step down effective April 30 and that Julia Xu would be interim CEO until a successor was named.

The solar project developer added that it expects an adjusted operating loss of about $4 million for the first quarter and that it expects to report full results in mid-May.

 (Reporting by Vallari Srivastava in Bengaluru; Editing by Krishna Chandra Eluri)

 ((Srivastava.Vallari@thomsonreuters.com;))