Pivot Energy and Tapestry, Inc. have finalized three community solar arrays in Peoria, Dover and Ottawa, Illinois, delivering a combined 13.475 megawatts of alternating-current capacity. Under the terms of a 15-year renewable energy credit purchase agreement, Tapestry will acquire credits generated by these facilities, which are projected to produce over 23,000 megawatt-hours of clean power annually—sufficient to meet the electricity needs of roughly 2,500 Illinois households. These sites mark the first trio of five planned projects in the state, with the remaining two slated for completion by 2030.

As part of its corporate social responsibility efforts, Pivot Energy has earmarked more than $115,000 in direct community support across all five Illinois solar installations. To date, nearly $65,000 has been disbursed to Illinois Central College and HIRE360, financing workforce training initiatives designed to expand access to solar-industry careers—particularly for transitioning fossil-fuel workers, minorities and women. The balance of the funds will be released in alignment with key construction milestones for the final two projects.

In its latest regulatory filing, Asset Management One Co. Ltd. reported a 324.2% increase in its holding of Tapestry shares during the third quarter, raising its position to 102,978 shares valued at approximately $11.66 million. Other major institutions have also adjusted positions: Royal Bank of Canada boosted its stake by 292.8% to 305,590 shares, Goldman Sachs added 21.1% for a total of 1.65 million shares, and several smaller funds initiated new positions ranging from $240,000 to $1.49 million. Collectively, institutional investors now control roughly 90.8% of the company’s outstanding shares.

Tapestry reported third-quarter revenue growth of 13.1% year-over-year, generating $1.70 billion in sales and delivering earnings per share of $1.38, surpassing consensus estimates by $0.13. Net margin stood at 3.77%, while return on equity reached 116.4%. The board declared a quarterly dividend of $0.40 per share, representing an annualized payout ratio of 142.9%. Additionally, the company authorized up to $1.0 billion for share repurchases—equivalent to nearly 4.9% of its issued share count—to be executed through open-market purchases over the coming months.