FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Solarvest Ramps Up Delivery of Large-Scale Solar Project as Middle East Crisis Boosts Demand

-- Solarvest (KLSE:SLVEST) plans to ramp up delivery of large-scale solar projects as higher fossil fuel costs, driven by the Iran-US conflict escalation, boost demand for renewable energy, bloomberg News reported Wednesday.

The company's Chief Executive, Davis Chong, said the firm aims to shorten project timelines to as little as 12 to 16 months from the current 18 to 24 months. The company is expanding capacity, targeting about 1.3 gigawatts of solar installations in 2026 and at least 5 gigawatts more by 2028, including projects linked to Tenaga Nasional (KLSE:TNB), the report said.

Solarvest has also launched two large solar initiatives under a corporate partnership program to supply major clients such as Micron Technology, NTT, and Texas Instruments, Bloomberg said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Australia

Jefferies Raises Quest Diagnostics Price Target to $225 From $220

Quest Diagnostics (DGX) has an average rating of overweight and mean price target of $219, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $204.33, Change: $+8.02, Percent Change: +4.09%

$DGX
Australia

Truist Securities Cuts Tractor Supply Price Target to $44 From $55, Hold Rating Kept

Tractor Supply (TSCO) has an average rating of overweight and mean price target of $56.19, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $39.92, Change: $-4.90, Percent Change: -10.92%

$TSCO
Sectors

Sector Update: Energy

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.2%.The Philadelphia Oil Service Sector Index was climbing 1.8%, while the Dow Jones US Utilities Index fell 1.3%.Front-month West Texas Intermediate crude oil was rising 4.8% to $93.94 a barrel, and the global benchmark Brent crude contract was advancing 4.4% to $99.68 a barrel. Henry Hub natural gas futures increased 0.3% to $2.70 per 1 million BTU.In corporate news, Halliburton (HAL) shares gained 4.1% after it reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.

$HAL