Financing Commitments for SunPower’s Innovative Solar and Storage Solutions
SunPower Corp. (NASDAQ:SPWR), a prominent residential solar technology and energy services provider, has garnered over $300 million in project financing commitments. The funds are provided by Apollo Funds, ATLAS SP Partners, and Hannon Armstrong Sustainable Infrastructure Capital, Inc. for SunPower’s residential solar and storage lease programs.
Advancing Solar Mission with Varied Financing Options
SunPower’s CEO, Peter Faricy, emphasizes their financing agnostic model, allowing customers to choose optimal financing. This commitment is expected to broaden lease availability for solar and storage solutions, meeting rising demand and facilitating wider access to clean energy.
Strong Financial Backing
With this financing, SunPower now has access to over half a billion dollars in capital, complementing recent capital raises. The funds are contingent on meeting specific conditions, including amendments to existing financing agreements and a second lien term loan from Sol Holding LLC.
SunPower’s Pioneering Role
Since 2010, SunPower has been a key player in offering solar lease financing options. In Q4 2023, lease contracts constituted 73% of SunPower Financial originated volume, showcasing the popularity and success of their financial products.
About SunPower
SunPower (NASDAQ:SPWR) stands as a leading provider of residential solar, storage, and energy services in North America. Renowned for solar + storage solutions, SunPower empowers customers with electricity consumption control, resiliency during outages, and cost savings.
Source：https://www.prnewswire.com
