Sunpower to acquire Solarworld Americas
Post date: 18/04/2018 - 16:43
US based Sunpower Corp., which is majority-owned by France’s Total SA, will acquire 100 percent of the Hillsboro, Oregon-based solar panel manufacturer Solarworld Americas Inc. According to the company, Sunpower plans to inject fresh capital into the Solarworld Americas facility. It provides »a great platform for us to implement our advanced P-Series solar panel manufacturing technology right here in our home market,« says Tom Werner, Sunpower CEO. According to Jürgen Stein, CEO of Solarworld Americas, this acquisition means »that our company can look forward to redoubled strength as it continues to innovate and expand into the future.«
Sunpower plans to ramp Solarworld Americas operations to capitalize on strong U.S. market demand. The company will invest in factory improvements and increased working capital, while retrofitting a portion of the facility to produce P-Series solar panels, in addition to continuing to produce and ship Solarworld Americas' legacy products.
The agreement is subject to necessary U.S. and German regulatory approvals and other closing conditions. At closing, which is expected in the next several months, Sunpower will become the largest U.S. solar panel manufacturer. The purchase price was not disclosed.