Category Archives: MACSolarIndexQuarterlyReviewsandChanges

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.

MAC Solar Index September 2020 Quarterly Review Changes
 

As part of the regular quarterly index review process that takes effect after the close of business on September 18, 2020, the following stocks will be added to the index: Renova Inc (9519 JT) with an Exposure Factor of 0.5, Meyer Burger Technology AG (MBTN SW) with an Exposure Factor of 1.0, Azure Power Global Ltd (AZRE US) with an Exposure Factor of 1.0, and Clearway Energy Inc-C Shares (CWEN US) with an Exposure Factor of 0.5. There are no other changes.

MAC Solar Index Constituent Change July 2020
 

Terraform Power Inc A (TERP:US), a constituent stock in the MAC Solar Index, is being acquired by Brookfield Renewable Corp, and will be dropped from the Index as of the close of business on July 30, 2020 when the acquisition closes, and the proceeds will be distributed on a pro-rata weight basis to the other constituents in the Index via a divisor change.

MAC Solar Index March 2020 Quarterly Review Changes
 

As part of the regular quarterly index review process that takes effect as of the close of business on March 20, 2020, Sunnova Energy International Inc. (NOVA US) and Flat Glass Group Co. Ltd. – H shares (6865 HK) will be added to the MAC Solar Index, both with Exposure Factors of 1.0, while the following two stocks will be dropped from the index due to low liquidity: Beijing Enterprises Clean Energy Group Limited (1250 HK) and Meyer Burger Technology AG (MBTN SW).