Friday Jan 27, 2023

SunPower Commercial Solar Biz Acquired For $250M – Law360

By Clark Mindock (February 11, 2022, 4:59 PM EST) — TotalEnergies will pay $250 million to acquire SunPower Corp.’s commercial and industrial solar business, according to the company.

The company — a global multi-energy company that is itself a majority shareholder of SunPower — said its acquisition of the business included $60 million that is in an earn-out structure, a pricing structure in which sellers “earn” a portion of the purchase price based on the performance of the asset after acquisition. That means that portion will be paid out if there is an extension to the solar investment tax credit

According to TotalEnergies, the move will allow it to go forward…

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Source: https://www.law360.com/california/articles/1463849/sunpower-commercial-solar-biz-acquired-for-250m

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