Solar firms shine as Biden plans to waive tariffs on panels under probe

Sunworks

06/06/2022 13:51

(Updates)
    ** Shares of solar energy companies rise between 2.4% and
20.7% premarket
    ** U.S. President Joe Biden will declare a 24-month tariff
exemption on solar panels from four Southeast Asian nations on
Monday after an investigation froze imports and stalled projects
in the United States, sources tell Reuters  urn:newsml:reuters.com:*:nL1N2XT05B
    ** Array Technologies  ARRY.O , Shoals Technologies  SHLS.O 
FTC Solar  FTCI.O  and Sunrun  RUN.O  up between 13.5% and
20.7%, among top pct gainers across U.S. exchanges
    ** Sunworks  SUNW.O , Sunnova Energy International  NOVA.N ,
SunPower  SPWR.O  and Maxeon Solar Technologies  MAXN.O  jump 9%
to 13.5%
    ** First Solar  FSLR.O , Enphase Energy  ENPH.O , ReneSola
 SOL.N  and Canadian Solar  CSIQ.O  climb between 2.4% and 7.5%
    ** JinkoSolar  JKS.N  up 5.5%, while Nextera Energy  NEE.N 
up 2.7%
    ** Invesco Solar ETF  TAN.P  adds 6.6%
    ** Gains in the U.S. stocks follow their Chinese solar peers
 urn:newsml:reuters.com:*:nL4T2XT0UV
    ** Biden also will invoke the Defense Production Act to
drive U.S. manufacturing of solar panels and other clean energy
technologies in the future, with the support of loans and grants
- sources

 (Reporting by Arunima Kumar and Ruhi Soni in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))