7 Best Performing Solar Stocks to Buy Now

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1. VivoPower International (NASDAQ:VVPR)

Number of Hedge Fund Holders: 1

Year-to-Date Performance as of September 3: 261.65%

VivoPower International (NASDAQ:VVPR) is one of the best performing solar stocks to buy now. On August 18, VivoPower International announced an agreement with Energi Holdings Limited, whereby Energi will acquire a 51% shareholding in VivoPower’s subsidiary, Tembo e-LV B.V. The strategic investment is based on a total enterprise valuation for 100% of Tembo of $200 million.

The deal allows for the resumption of Tembo’s planned business combination with the special purpose acquisition company/SPAC, Cactus Acquisition Corp 1 Limited/CCTSF, which values Tembo at an equity valuation of $838 million. The investment by Energi Holdings is a private investment in public equity/PIPE transaction. The final equity purchase price for the 51% stake will be calculated from the $200 million enterprise valuation, after adjustments for Tembo’s net debt and other customary closing conditions.

VivoPower will continue to hold a significant share in Tembo after the SPAC merger is completed. The immediate next step for the transaction is the filing of a registration statement on Form F-4 with the US Securities and Exchange Commission/SEC. In anticipation of Tembo becoming a publicly listed company, VivoPower has already started recruiting a dedicated board of directors for the subsidiary.

VivoPower International (NASDAQ:VVPR) provides energy solutions for customized and ruggedized fleet applications, battery & microgrids, and solar & critical power technology & services. It operates through Electric Vehicles, Sustainable Energy Solutions, and Solar Development segments.

While we acknowledge the potential of VVPR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VVPR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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