SunPower Buys Infigen’s 1.5-Gigawatt U.S. Solar Power PipelineEhren Goossens
SunPower Corp., the second-biggest U.S. solar manufacturer, bought 1.5 gigawatts of projects under development in 11 U.S. states from the Australian developer Infigen Energy.
Three of the projects with a total of 55 megawatts of capacity have contracts to sell power to Edison International’s Southern California Edison unit, San Jose, California-based SunPower said Monday in a statement. Construction on these solar farms in Kern County is expected to begin this year and to be complete in 2016. Terms weren’t disclosed.
The deal “provides an expanded and geographically diverse portfolio of solar projects in the U.S.,” SunPower Chief Executive Officer Tom Werner said in the statement.
Infigen sold its U.S. wind business to Primary Wind Power LLC for $272.5 million this month to reduce debt and consolidate its business to focus on the Australian market.
SunPower expects to sell some of the acquired projects to its 8point3 Energy Partners LP joint yieldco with First Solar Inc., the largest U.S. solar manufacturer.
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