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.
Nobody knows.
Without doubt, the damage is profound. The world has recognized that the United States is being commanded by a madman and has abandoned its place as the leader of the world.
As we look back across history, we see a certain shelf-life to democracies. It’s easy to believe that we’re in the final days of what became of ancient Greece. It’s also possible, as numerous scholars have asserted, that we’re on the precipice of the sixth extinction.
But it’s entirely possible that the pendulum may start to rebound toward the days of America’s greatness, the time of truth and fairness.
We’ll see.
A dwindling number of hateful idiots still cling to the ideas at left.
But what was once 77 million is now approximately 45 million, and that number is falling every day, as Trump leads us deeper into corruption, economic ruin, and the revulsion of our former international allies.
Maybe we’ll see a meme like this in a month or so, when the president’s approval rating has declined into the teens, but I doubt it.
As an archconservative, Sowell disagrees with me on virtually everything, though I normally can find some merit to his position.
That’s not the case here, where “multiculturalism, diversity, and gender awareness” mean acceptance and tolerance, the precise opposite of “hating each other.”
-
Greenhouse Gases9 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Climate Change9 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
Bill Discounting Climate Change in Florida’s Energy Policy Awaits DeSantis’ Approval
-
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 Energy7 months agoSending Progressive Philanthropist George Soros to Prison?
-
Carbon Footprint2 years agoUS SEC’s Climate Disclosure Rules Spur Renewed Interest in Carbon Credits
-
Greenhouse Gases10 months ago
嘉宾来稿：探究火山喷发如何影响气候预测