North America Alternative & Renewable Energy: Week with Vik: NIMBY and Stingy in the Same Week

研报英文原文证据摘录

North America Alternative & Renewable Energy: Week with Vik: NIMBY and Stingy in the Same Week

Viewpoint |

06 Jul 2026 05:30:00 ET │ 11 pages

North America Alternative &

Renewable Energy

Week with Vik: NIMBY and Stingy in the Same Week

Vikram Bagri AC

CITI'S TAKE +1-212-816-4506

vikram.bagri@citi.com

DC/AI exposed renewable stocks pulled back last week following Meta’s

plans (Reuters, July1) to sell excess compute, QTS’s cancellation (Reuters, Theodore Giletti, CFA

July3) of a project, and several companies evaluating AI spending amid +1-212-816-3835

rising costs. Investor discussions centered on GNRC, ENPH, NXT, and FSLR. theodore.giletti@citi.com

Competition for ENPH’s still under development SST is likely to intensify

following Sungrow’s launch of a commercial product this week. While we Vignesh Gunda

view GNRC’s valuation as attractive, we do not expect a second hyperscaler +1-212-816-9667

announcement or guidance increase in 2Q. NXT’s valuation appears vignesh.gunda@citi.com

compelling and we disagree with concerns about potential Section 232

impacts and exposure to PRIM. For FSLR, we expect relatively uneventful

quarter. Finally, we do not believe an abrupt ban on imports of inverters

would benefit any covered utility-scale companies. In NT, it would likely

delay projects, while in LT it will create more competition from onshoring

production by foreign manufacturers before domestic companies scale.

KKR Acquisition — KKR agreed (Businesswire, June 30) to acquire EDF Power

Solutions' North American operations for $4.2B, with up to $390mm in additional

earnout payments. The business includes >5.6GW of operating wind, solar, and

battery storage assets and is one of the largest renewable energy developers in NA.