Hannon Armstrong to Finance SunPower Home Solar Projects

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.

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