Hannon Armstrong to Finance SunPower Home Solar Projects

July 28 (Bloomberg) -- Hannon Armstrong Sustainable Infrastructure Capital Inc. agreed to provide as much as $44.5 million in debt financing to SunPower Corp. for residential solar projects.

SunPower, the second-largest U.S. solar manufacturer, will use the funding to expand a program that lets homeowners lease rooftop panels to their lower electricity bills, the company said today in a statement. Terms weren’t disclosed.

In April, Hannon Armstrong provided $42 million in financing to San Jose, California-based SunPower. More than 20,000 customers are enrolled in the company’s leasing program.

First Solar Inc. is the largest U.S. solar manufacturer.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Jim Efstathiou Jr., Will Wade