Santander Bank will provide a US$377 million credit facility to Solar Star California XIII, a SunPower hold co.
According to an SEC filing published on Thursday, the funds include US$318 million in construction loans for the 135MW Quinto Solar Energy Project in California.
SunPower has committed to invest US$139 million of equity into the Solar Star hold co.
In July, the company claimed to have around 500MW of assets under its hold co strategy. This allows it to maintain ownership of its projects and either sell them when prices are optimal or to shift them into any future yield co of its own.