Strong Execution; Continued Volume Growth into Global DG Markets Company Raising FY 2019 Adjusted EBITDA / Net Income Guidance SAN JOSE, Calif.: SunPower Corp. (NASDAQ:SPWR) today announced financial results for its second quarter ended June 30, 2019. Second Quarter Highlights Continued strength in distributed generation (DG), expanded international power plant footprint Partnered with Bank of America Merrill […]
SunPower Reports Progress in Its Strategic Overhaul During Q2
“The restructuring of the company is paying off,” SunPower CEO Tom Werner told GTM. SunPower returned to profitability and exceeded its revenue guidance in the second quarter, pointing to signs that its strategic overhaul is bearing fruit. Shares surged 20 percent in after-hours trading, to around $14. Though the company is still working to improve […]
SunPower Solar Systems Powered Up at Eight Whole Foods Market Locations Across California and Nevada
Integrated Battery Storage Expected to Significantly Reduce One Store’s Electricity Demand Charges SAN JOSE : SunPower (NASDAQ:SPWR) today announced that more than 2.6 megawatts of SunPower® solar projects are installed and operating at eight Whole Foods Market locations across two states, with one site combining an integrated storage system. These projects are expected to help […]
SunPower sues former executive over trade secrets
The lawsuit alleges that DeBono began working for Standard several months before he left SunPower in April 2018 US solar company SunPower Corp is suing a former senior executive, accusing him of stealing the company’s proprietary information to help his new employer, Standard Industries, build a rooftop solar business. The lawsuit, filed in state court […]
SunPower, Hannon Armstrong and SunStrong Secure Attractive Financing for Residential Solar Lease Business Into 2020
New Fund Will Supplement U.S. Customer Solar Purchase Options of Cash and Loan SunStrong Acquires SunPower Residential Lease Portfolio from Capital Dynamics AN JOSE : SunPower (NASDAQ:SPWR) today announced that with Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) and SunStrong Capital Holdings, LLC, it has secured financing commitments for its residential solar lease program that […]
Report: US Residential Solar Financier Sunnova Plans IPO
A public offering is in the works for the country’s fourth-largest residential solar TPO provider, according to a Reuters report. Sunnova Energy Corp., among the largest U.S. residential solar third-party ownership providers, is planning an initial public offering that could value the Houston-based company at more than $1 billion including debt, according to a Tuesday […]
SunPower Fleshes Out Future Vision as an Energy Services Company
As it looks to sell its Oregon factory, SunPower is pushing into storage and energy services. “We’ll take over your energy bill,” the company aims to be able to tell future customers. After a string of big losses, SunPower is working to overhaul its business and financials. In September, the California-based solar manufacturer and development […]
Goldman Sachs Becomes Solar Supplier to California CCAs as Its Acquisition Spree Continues
The purchase of Recurrent Energy’s equity stake in the 100 MW Mustang project adds to Goldman subsidiaries’ growing solar portfolios. Canadian Solar subsidiary Recurrent Energy has sold its remaining equity stake in the 100-megawatt Mustang solar project, a key resource for California’s flagship community-choice aggregators, to the Renewable Power Group of Goldman Sachs Asset Management. […]
SunPower Commemorates Decade-Long Bed Bath & Beyond® Partnership this Earth Day with Completion of Second Solar Project at Retailer’s Headquarters
Over 21 Megawatts of SunPower Solar Installed and Operating Across 41 Bed Bath & Beyond Stores and Distribution Centers in America Since 2010 SAN JOSE, Calif.: In 2010, SunPower (NASDAQ: SPWR) installed a 1.2-megawatt solar power system at the Bed Bath & Beyond® headquarters in Union, New Jersey. One decade later, with over 21 megawatts of SunPower® solar deployed […]
Goldman Sachs Buys 233 Megawatts of Commercial Solar Leases from SunPower
Deal covering 200 project sites reflects growing interest in commercial solar assets from institutional investors. SunPower is offloading 233 megawatts of commercial solar project leases to a subsidiary of Goldman Sachs Renewable Power for $86.9 million, a filing this week with the U.S. Securities and Exchange Commission shows. The portfolio encompasses about 200 projects in […]