Connect with us

Hi, what are you looking for?


Clean Power

SunPower Acquires 1.5 GW Solar Assets

SunPower has announced the acquisition of 1.5 GW of US solar power plant development assets from Australia-based company Infigen Energy.

SunPower-2The acquisition was announced on SunPower’s website on Monday, and confirmed that SunPower would assume ownership of projects in a variety of stages of development across 11 US states.

Included in the acquisition are three projects totalling 55 MW with power purchase agreements (PPA) with Southern California Edison, located in Kern County, California, which are expected to now begin construction later this year with commercial operation expected to take place sometime in 2016.

The total sale amounts to $29.5 million (after tax and transaction costs), which will help Infigen record a post-tax profit on disposal of approximately $15 million in its financial-year 2015 financial statements. Infigen Energy may also receive up to an additional $30 million through an earn-out structure and other conditional payments.

According to SunPower, at least some of the projects represented in the deal will be offered for sale to 8point3 Energy Partners, the joint yieldco project SunPower undertook with First Solar.

“The magnitude of this acquisition speaks to SunPower’s financial strength as well as our expertise and leadership in global power plant development,” said Tom Werner, SunPower CEO and president. “It provides an expanded and geographically diverse portfolio of solar projects in the U.S. that may all be generating cost-effective, emission-free power by the end of this decade.”

“SunPower brings significant experience and proven technology to ultimately transform these development assets into high-performing solar power plant projects, designed to reliably deliver value over the long term,” said David Smith, CEO of Infigen Energy US. “Infigen is pleased to have completed this transaction with SunPower.”

“We expect this acquisition to deliver additional value to our shareholders through long-term power purchase agreements with leading energy buyers, while providing further growth opportunities for SunPower,” continued Werner.

Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (, and can be found writing articles for a variety of other sites. Check me out at for more.


You May Also Like


How do you make a difference and a profit in Australia’s dairy industry? The answer is shining in your face. John and Rochelle Pekin...

Clean Power

Virginia is going from near-zero wind power to 2.6 gigawatts all at once, with the approval of a new offshore wind plan for Dominion...


Jon Edwards, as told to David Waterworth The team behind the Tesla Model 3 Targa West success story plans to be part of the...

Autonomous Vehicles

QUT robotics researchers working with Ford Motor Company have found a way to tell an autonomous vehicle which cameras to use when navigating. Professor...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.