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OEG Stock: 12 Things to Know About Orbital Energy Group and the Orbital Solar JV

Orbital Energy Group (NASDAQ:OEG) stock is shining brighter on Monday after announcing a new joint venture with Black Sunrise Fund.

rows of solar panels
Source: Love Silhouette /

Here’s everything investors need to know about OEG stock and its recent joint venture.

  • The joint venture has Orbital Energy Group subsidiary Orbital Solar Services working with Akon Lighting America and Black Sunrise Half Century Fund, who formed a joint venture named Black Sunrise Fund.
  • This will have them decommissioning coal-fired power plants across the U.S.
  • At the same time, they will also be converting these into solar panel farms.
  • Orbital Energy Group notes that this will have Orbital Solar acting as the engineering, procurement, and construction company for these locations.
  • This work will start in the second quarter of 2021.
  • The Black Sunrise Fund chose Orbital Solar as its partner of choice due to its proven track record of more than 40 solar projects with 600 megawatts.
  • Black Sunrise Fund says that it expects to build “over 1 gigawatt of solar power with a beginning investment of $725 million.”
  • Orbital Energy Group is a diversified energy company with offerings in several segments.
  • It’s seeking growth through the acquisition and development of other companies.
  • News of the Orbital Solar joint venture sparked interest in OEG stock today.
  • As of this writing, more than 23 million shares of the stock have changed hands.
  • For comparison, the company’s daily average trading volume is only 126,000 shares.

OEG stock was up 35.8% as of noon Monday and is up 205.6% since the start of the year.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media,

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