Category Archives: MACSolarIndexQuarterlyReviewsandChanges

MAC Solar Index June 2021 Quarterly Review Changes
 

As part of the regular quarterly Index review process that takes effect after the close of business on June 18, 2021, the following stocks will be added to the Index: Shoals Technologies Group, Inc. Class A (SHLS US) and O.Y. Nofar Energy Ltd (NOFR IT). The following stocks will be dropped from the Index: Clearway Energy Inc Cl C (CWEN US), Fastned BV (FAST NA), SHINSUNG E & G Co LTD (011930 KS), and Xinte Energy Co Ltd – H Shares (1799 HK).

S&P Dow Jones Indices becomes the benchmark administrator for the MAC Global Solar Energy Index
 

Effective Monday, May 24, 2021, S&P Dow Jones Indices became the benchmark administrator for the MAC Global Solar Energy Index. The latest Index methodology and other key information can be found on the S&P website at: https://www.spglobal.com/spdji/en/custom-indices/mac-indexing-llc/mac-global-solar-energy-index-net-total-return/#overview.

MAC Solar Index March 2021 Quarterly Review Changes
 

As part of the regular quarterly Index review process that takes effect after the close of business on March 19, 2021, the Exposure Factor for the existing constituent Atlantica Sustainable Infrastructure (AY US) will be raised to 1.0 from 0.5. Also, the following stocks will be added to the Index (with the Exposure Factor in parenthesis): Array Technologies Inc (ARRY US) (1.0), Sunworks (SUNW US) (1.0), Soltec Power Holdings SA (SOL SM) (1.0), Fastned BV (FAST NA) (1.0), Luoyang Glass Company Limited-H (1108 HK) (1.0), GCL New Energy Holdings Ltd (451 HK) (1.0), XINTE ENERGY Co-H (1799 HK) (0.5), Beijing Enterprises Clean Energy Group (1250 HK), (0.5), United Renewable Energy (3576 TT) (1.0), TSEC Corp (6443 TT) (1.0), Motech Industries Inc (6244 TT) (1.0), Giga Solar Materials Corp (3691 TT) (1.0), Anji Technology Co Ltd (6477 TT) (1.0), Hanwha Solutions Corporation (009830 KS) (0.5), Shinsung E&G Co Ltd (011930 KS) (0.5), Doral Group Renewable Energy Resources Ltd (DORL IT) (1.0), Enlight Renewable Energy (ENLT IT) (1.0), and Energix-Renewable Energies Ltd (ENRG IT) (0.5). There are no stock deletions from the Index and no other changes.

MAC Solar Index Consultation Regarding Revised Index Methodology
 

MAC Solar Index Consultation Regarding Revised Index Methodology

Link to MAC-Solar-Index-Proposed-New-Index Methodology

March 11, 2021 – MAC Solar Index is conducting a consultation with market participants on a proposal to update the Index methodology, as seen in the attached document. There are a number of proposed changes, including but not limited to: (1) raising the minimum float-adjusted market cap for initial inclusion in the Index to $250 million from the current $150 million, (2) changing to a 3-month rather than 1-month minimum average daily average of $750,000 for initial inclusion in the Index, (3) imposing specified minimums for continued inclusion in the Index of $125 million of float-adjusted market cap and a 3-month average daily trading value of $375,000, and (4) implementing environmental and governance screens. We are also soliciting feedback on whether there should be any measures adopted that seek to limit ownership of the constituent stocks that are listed in any particular country or all countries allowed by the Index methodology.

For reference, the March 2021 quarterly Index review that takes effect after the close on March 19, 2021, will occur under the current methodology. Any changes in the Index methodology contemplated by this Index consultation will not take effect until some time after the March rebalance. See the current Index methodology at https://macsolarindex.com/methodology/.

Questions:

1. Please provide feedback on all aspects of the Index methodology and proposed changes, and suggest any other changes that should be considered.

2. What would be the best timing for implementing this proposal if MAC Solar proceeds?

Please respond to this survey as soon as possible. To participate in this consultation, please send an email to support@macsolarindex.com.
Thank you for taking the time to respond to this consultation.

MAC Solar Index December 2020 Quarterly Review Changes
 

As part of the regular quarterly index review process that takes effect after the close of business on December 18, 2020, the following stocks will be added to the Index: ReneSola Ltd-ADR (SOL US) with an Exposure Factor of 1.0, Beam Global (BEEM US) with an Exposure Factor of 1.0, Grenergy Renovables S.A. (GRE SM) with an Exposure Factor of 1.0, and Solarpack Corp Technologica SA (SPK SM) with an Exposure Factor of 1.0. There are no other changes.

Notice of MAC Solar Index Methodology Change to Add Four Countries
 

November 25, 2020 – The index methodology for the MAC Solar Index will be changed to add four countries to the list of countries in which an Index constituent stock must be listed: Israel, Luxembourg, South Korea, and Taiwan. This methodology change will take effect as of the March 2021 MAC Solar Index rebalance. A public index consultation on this topic was previously issued on November 16, 2020.

MAC Solar Index Consultation on Index Methodology Change to Allow More Countries of Listing
 

MAC Solar Index Consultation on Index Methodology Change to Allow More Countries of Listing

November 16, 2020

MAC Solar Index is conducting a consultation with market participants on a proposal to add to the list of countries in which MAC Solar Index constituents must be listed. The addition of more stocks to the Index would be beneficial from the standpoint of improving diversification weighting and staying well above the continued listing requirement for a global index of having a minimum of 20 stocks. The Index currently has 26 stocks.

The MAC Solar Index currently requires constituents to be listed in one of the following countries: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. See the current Index methodology at https://macsolarindex.com/methodology/.

MAC Solar Index is proposing to add four countries to this list: Israel, Luxembourg, South Korea, and Taiwan.

The addition of Israel, Luxembourg, and South Korea would allow the MAC Solar Index to match a well-known standard of developed countries. Of those three countries, there is one stock in Israel at present that may qualify for inclusion in the Index and no prospective stocks at present in Luxembourg or South Korea.

Taiwan is being proposed as a country addition because there are currently four solar stocks that trade in Taiwan that may qualify for inclusion in the MAC Solar Index.

Questions:

1. What are the advantages and disadvantages of adding each of the above-mentioned countries? Would the addition of any of these countries create any problems for stakeholders from any standpoint? If so, which countries and how? Should any other countries be added to the consideration?

2. What would be the best timing for implementing this proposal if MAC Solar proceeds?

Please respond to this survey by November 25, 2020. After this date, MAC Indexing will no longer accept survey responses.

To participate in this consultation, please send an email to support@macsolarindex.com.

Thank you for taking the time to respond to this consultation.