Emeren Brings In Boralex Veteran for U.S. Arm, Flags $20 Million Q2 Impairment

• Solar developer Emeren Group has tapped industry insider M. Jahangir Alam to head its North American business after Mac Moore’s exit, while warning investors of a non-cash impairment of at least $20 million ahead of its mid-August results release.

Emeren Group Ltd, the New York-listed solar developer in the midst of a go-private takeover, has shaken up its North American ranks and cautioned investors it will book a sizeable write-down when it reports second-quarter results in August.

The company said long-time executive Cameron “Mac” Moore has left with immediate effect. Stepping in is M. Jahangir Alam, a project-development specialist who most recently held senior posts at Canadian renewables producer Boralex. 

At the same time, Emeren expects to record a non-cash impairment of at least USD 20 million tied to a fair-value review of certain power-station assets under U.S. GAAP rules. The charge relates to property, plant and equipment worldwide and will show up in the second-quarter statement due in mid-August. 

The board-room changes come just weeks after Emeren—known until last year as ReneSola—agreed to be acquired by Shurya Vitra Ltd in a deal that would take the firm private before the end of the third quarter. 

Investors will now be watching to see how swiftly Alam can steady the North American platform and whether the impairment signals deeper valuation pressures across Emeren’s global portfolio as the company prepares to exit the public markets.