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Vivint Solar Reports First Quarter 2019 Results

Published on 13 May 2019
Vivint 
Vivint Solar, Inc. today 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 46MWs for the quarter. Total cumulative MWs installed were approximately 1,107MWs.
- Installations were 6,514 for the quarter. Cumulative installations were 161,112.
- Estimated Gross Retained Value increased by approximately $54 million during the quarter and is approximately $2.1 billion. Estimated Gross Retained Value per Watt at quarter end was $2.04.
- Cost per Watt was $3.46, an increase from $3.18 in the fourth quarter of 2018 and an increase from $3.22 in the first quarter of 2018.
- Margin created was $45 million, a 29% increase from the first quarter of 2018. Unlevered NPV per Watt was $0.99.

Financing Activity

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

Summary First Quarter 2019 Financial Results

$ amounts in millions, except per share data


Guidance for the Second Quarter 2019

The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements supersede all prior statements regarding projected 2019 financial results.

For the second quarter of 2019, Vivint Solar expects:

 - MW Installed: 52 - 55MWs
 - Cost per Watt: $3.32 - $3.40


ENF Profiles For Companies Mentioned in This Article

Vivint (Solar System Installers): https://www.enfsolar.com/vivint
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