SunPower Corp. Secures Over $300 Mln In Project Financing Commitments

(RTTNews) - SunPower Corp. (SPWR) has secured over $300 million in project financing commitments from funds managed by Apollo (APO), ATLAS SP Partners, and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) for its residential solar and storage lease programs, which will be paid upon installation. SunPower Corp. noted that, together with its recent capital raise, the company now has access to more than half a billion dollars of capital, provided it meets certain funding conditions.

Peter Faricy, SunPower CEO, said: "We believe this new commitment will enable us to better serve our growing base as we can now provide significantly more customers with leases for solar and storage solutions, meet the strong demand for our fastest growing financial product and ultimately expand access to clean energy at scale."