SunPower reports significant growth and module supply agreement with Hanwha Q Cells

U.S.-based photovoltaic company Sunpower Corp. will no longer purchase solar modules only from its sister company Maxeon Solar Technologies, Ltd. which was created as a spin-off of Sunpower’s manufacturing division in August 2020. While the cooperation between the two companies was confirmed again in December by contract until 2025, Sunpower now announced – along with its results for the fourth quarter and full year 2022 – that it would also source solar modules from the U.S. plant of Korean solar company Hanwha Q Cells in the future. Details were not provided.
Sunpower significantly increased its revenue from $ 1.13 billion in 2021 to $ 1.74 billion in 2022. The fourth quarter of 2022 contributed a disproportionate 497 million dollars to this. The company set a new quarterly record – its fourth in a row – for the number of new customers, with 23,700. Full-year 2022 net income (GAAP) was $ 102.4 million; 2021 net income was just $ 6.1 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) were $ 95.1 million (2021: $ 75.3 million).

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