SunPower has entered into an asset purchase agreement, with Complete Solaria serving as stalking horse buyer for the assets associated with SunPower’s Blue Raven Solar business, new homes business and non-installing dealer network.
The company and certain subsidiaries filed for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.
Subject to court approval, Complete Solaria will acquire the assets and assume certain related liabilities in exchange for $45 million.
“For nearly 40 years, SunPower has made solar energy more accessible to Americans, driven by our mission to change the way our world is powered. We are confident Complete Solaria’s CEO, T.J. Rodgers, will carry forward our vision to shape the future of residential solar as a pioneer in this space,” says Tom Werner, executive chairman at SunPower.
“In light of the challenges SunPower has faced, the proposed transaction offers a significant opportunity for key parts of our business to continue our legacy under new ownership. We are working to secure long-term solutions for the remaining areas of our business, while maintaining our focus on supporting our valued employees, customers, dealers, builders and partners.”
Kirkland & Ellis and Richards, Layton & Finger serve as legal counsel to SunPower. Alvarez & Marsal North America is serving as transition officer and financial advisor to the company. Moelis & Company is serving as the investment banker and C Street Advisory Group serves as its strategic communications advisor.
DLA Piper and Arnold & Porter Kaye Scholer are serving as legal counsel to Complete Solaria, with Ayna.AI serving as its advisor.
The post SunPower Files for Bankruptcy appeared first on Solar Industry.
Here’s where you can donate to send a copy of the bible to the poorest of the poor African children.
Let the word of God explain to these children why they are dying of sickness and starvation. Certainly, their parents will be interested to learn this as well.
Always blame your opposition for the crimes you committed.
We baby boomers remember when the two dominant political parties were essentially indistinguishable. Eisenhower, a Republican, stood for strong Social Security, limited military, unemployment insurance, and a strong minimum wage.
What does today’s GOP champion? Cutting off all assistance for the poor, tax cuts of billionaires, slashing into Social Security (the money you and I earned) and starting a senseless and illegal war.
Who are the radicals here?
I just came across Sofo Archon, an incredibly interesting speaker and writer.
My only response to what he says at left is that you are, in fact, a leftist, whether you accept that or not. Anyone who says that he belongs to “Humanity and Earth” is a leftist by definition, just like anyone who wears the t-shirt below.
This is kind of like saying, “I am neither a Christian nor an atheist, but I believe in God and I accept His son Jesus Christ as my savior.” Sorry, that makes you a Christian.
-
Greenhouse Gases11 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Climate Change11 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Climate Change2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Renewable Energy8 months agoSending Progressive Philanthropist George Soros to Prison?
-
Climate Change2 years ago
Bill Discounting Climate Change in Florida’s Energy Policy Awaits DeSantis’ Approval
-
Carbon Footprint2 years agoUS SEC’s Climate Disclosure Rules Spur Renewed Interest in Carbon Credits
-
Greenhouse Gases12 months ago
嘉宾来稿：探究火山喷发如何影响气候预测