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

, Reuters -  6:28 AM ET 3/28/2025 Company News

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March 28 (Reuters) - Renewable energy company Emeren ( SOL ) 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 ( SOL ) 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)

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