SunPower Announces Loan Purchase Commitment From KKR

(RTTNews) - SunPower (SPWR) and KKR (KKR) announced they have signed a definitive agreement under which credit funds and accounts managed by KKR will commit to purchasing $550 million of solar energy loans made to SunPower customers. SunPower said, with the closing of this transaction, the company has raised sufficient capital year-to-date to fund a total of $1 billion of incremental solar loans for customers.

"As demand continues to rise, we expect this additional capital will power our loan bookings volume into 2024 and enable SunPower to increase access to the benefits of solar for more homeowners," said Guthrie Dundas, interim CFO of SunPower.