SunPower seeking partner for its solar panel making business


SunPower seeking partner for its solar panel making business

SunPower Corp is seeking a strategic partner for its solar panel manufacturing business, an arrangement that could allow it to expand the U.S. factory it acquired last year, Chief Executive Tom Werner said on Wednesday.

A partnership could involve the sale of a minority stake in the manufacturing business or a customer investment that would allow preferential access to its products, among other options, Werner said.

The investment would allow SunPower to accelerate deployment of its next-generation solar technology and could allow it to do more at the Hillsboro, Oregon factory that it acquired last year as it sought to stem the impact of Trump administration tariffs on foreign-made panels.

SunPower makes most of its products overseas but bought the Oregon factory last year at the same time it was seeking an exemption from the 30 percent tariffs, which it was ultimately granted. Read More

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