SunPower Corp in $100M solar deal

Wells Fargo & Co. and SunPower Corp. on Monday announced a collaborative effort to fund up to $100 million in SunPower commercial-scale solar systems.

San Francisco-based Wells (NYSE:WFC) and San Jose-based SunPower (NASDAQ:SPWRA) and (NASDAQ:SPWRB) said SunPower will enter into power purchase agreements with qualified customers and Wells Fargo will finance the solar power systems that SunPower will design, build, operate, and maintain.

Customers hosting the systems will buy the electricity from SunPower "at prices that are competitive with retail rates, providing them with a long-term hedge against rising power prices and the ability to take advantage of the environmental and financial benefits of solar power with no initial capital investment," the companies said.

Labels: solar panels, Solar Projects, solarstocks, SPWRA, SunPower Corp, Wells Fargo

posted by Ertai at 11:29 AM