Stock Market Week 09/26: RENIXX Hits New Yearly High - Nordex With Strong Performance - US Solar Stocks Under Pressure: Sunrun, Array Technologies, First Solar and Canadian Solar Post Double-digit Losses
Münster (Germany) - The RENIXX reached a new yearly closing high of 1,288.68 points last week but was unable to maintain this elevated level in subsequent trading. The sometimes significant price movements were triggered by numerous Q4 and full-year 2025 results, which were received differently by the markets.
Technical outlook: RENIXX remains in sideways movement despite new yearly high
From the end of 2023 to early January 2025, the RENIXX moved within a pronounced sideways range between 1,000 and 1,200 points. The significant interim low of 748 points in 2025 marked an important turning point and has since served as a key support zone.
Starting from this low, the index recovered significantly and reached a new yearly high of 1,288.68 points (previously: 1,279.06 points) last week - once again at the upper end of the former trading range. However, a sustained breakout above this level has not yet materialized.
Currently, the RENIXX is once again in a neutral sideways phase within the broader range. The trend remains slightly positive. The support zone between 1,000 and 1,100 points continues to act as a stabilizing anchor, while the 1,280 to 1,300 point area functions as resistance on the upside. Despite increased volatility, the year-to-date performance of the RENIXX remains positive: following Friday’s closing price, the index is up 8.0 percent.
Corporate news - Week 09/26
Nordex achieves record figures in Q4/2025 - share price rises 26 percent
Nordex not only achieved all financial and operational targets with its published Q4 and full-year 2025 results but also set new records in several areas. In fiscal year 2025, Nordex generated consolidated revenue of EUR 7.6 billion (2024: EUR 6.5 billion) with an EBITDA margin of 8.4 percent (2024: 5.8 percent). Order intake reached a new record of EUR 9.3 billion in 2025 (2024: EUR 8.5 billion). Net income improved to EUR 274 million (2024: EUR 18 million). For 2026, Nordex expects consolidated revenue between EUR 8.2 and 9.0 billion with an EBITDA margin of 8.0 to 11.0 percent.
With a gain of 26.3 percent to EUR 42.68, Nordex was the best-performing RENIXX stock last week.
Vestas secures 1.38 GW mega offshore order from RWE
Vestas has received a firm order for the Vanguard West offshore wind project with a capacity of 1,380 MW in the United Kingdom. The client is RWE. The order includes the supply, transportation and commissioning of 92 flagship turbines of the V236-15.0 MW type. Vestas has also entered into a new framework agreement with renewable project developer Juwi. Vestas shares ended the week at EUR 21.45, unchanged from the previous week’s closing level.
Ormat increases revenue by double digits in Q4 and full-year 2025 - quarterly dividend maintained
Ormat increased total revenues in Q4 to USD 276.0 million (Q4 2024: USD 230.7 million) and to USD 989.6 million for the full year (2024: USD 879.7 million). On a GAAP basis, net income declined in the fourth quarter to USD 31.4 million (Q4 2024: USD 40.8 million), or diluted earnings of USD 0.50 per share (Q4 2024: USD 0.67). For the full year, net income remained nearly stable at USD 123.9 million (2024: USD 123.7 million), or USD 2.02 per share (2024: USD 2.04).
Although the company met analysts’ expectations for Q4 earnings per share and even exceeded revenue forecasts, the significant decline in GAAP net income in the fourth quarter led to a muted market reaction. Ormat shares fell 10.7 percent to EUR 87.12.
First Solar increases revenue and improves earnings - 2026 outlook weighs on shares
First Solar generated net sales of USD 5.22 billion in 2025 (2024: USD 4.21 billion), representing an increase of 24 percent. In the fourth quarter, net sales amounted to USD 1.68 billion compared to USD 1.51 billion in the prior-year quarter (+11%). Growth was primarily driven by higher module sales volumes.
For 2026, First Solar forecasts net sales between USD 4.9 and 5.2 billion and adjusted EBITDA of USD 2.6 to 2.8 billion. However, the analyst consensus for full-year 2026, at USD 6.09-6.12 billion, is significantly above the company’s guidance. The stock declined 18.7 percent to EUR 166.44.
Array Technologies increases 2025 revenue by 40 percent - guidance disappoints
Array Technologies reported full-year 2025 revenue of USD 1.28 billion, an increase of 40 percent (2024: USD 915.8 million). Adjusted EBITDA reached USD 187.6 million (2024: USD 173.6 million). Nevertheless, the company remained in the red for the full year with a net loss of USD 112.0 million, although this represented a significant improvement compared to the prior year (net loss 2024: USD 296.1 million).
Investors reacted to the cautious 2026 outlook by selling the stock. Shares plunged 32.4 percent to EUR 6.38 by the end of the week.
Storage boom: Sunrun significantly increases subscribers and revenue - stock plunges
Sunrun reported fiscal year 2025 revenue of USD 2.96 billion (+45%) and net income of USD 449.9 million (2024: USD -2.85 billion). Diluted earnings per share amounted to USD 1.71 (prior year: USD -12.81). Sunrun operates the largest distributed home power plant network in the United States. After initially gaining, the stock dropped sharply on Friday. On a weekly basis, Sunrun shares fell 35.3 percent to EUR 11.10.
RENIXX starts the week in negative territory
At the beginning of the new trading week, the RENIXX is trading lower. The biggest gainers are BYD, Verbund, China Longyuan, Boralex and Nordex. Declines are recorded by Cadeler, Scatec, Sunrun, Plug Power and Goldwind.
About the global stock index RENIXX World
The RENIXX® World (Renewable Energy Industrial Index, ISIN: DE000RENX014) is the world’s first stock index for renewable energies and the oldest global stock market barometer for this industrial growth sector. It covers the segments of wind energy, solar energy, bioenergy, geothermal energy, hydropower, electromobility, hydrogen and fuel cells.
The index comprises 30 international companies with the highest free-float market capitalization and reflects both performance and the global market development of the renewable energy industry.
The RENIXX was launched on May 1, 2006 with a base value of 1,000 points; back-calculation was conducted to 2002. The index is available via leading financial media and data providers such as Bloomberg, Reuters, Financial Times, BlackRock (Aladdin) and Wallstreet Online.
Source: IWR Online, 02 Mar 2026
