SunPower in advanced talks to sell commercial and industrial unit

Facebook
Twitter
LinkedIn
Reddit
Email
SunPower hopes to finalise discussions regarding the sale in Q1 2022. Image: SunPower.

US solar installer SunPower is in advanced discussions regarding a potential sale of its commercial and industrial solutions (CIS) business as it looks to heighten its focus on the residential sector.

Having announced in October that it was exploring strategic options for the unit, SunPower has now confirmed it will pursue a sale, with it seeking to finalise discussions as early as Q1 2022.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The decision was made to optimise SunPower’s capital deployment, the company said, while also enabling CIS to take better advantage of opportunities such as community solar and front-of-meter storage.

SunPower CEO Peter Faricy said that with the right partner, CIS will have the opportunity to fight climate change on a larger scale. “The potential buyer shares CIS’ strategic and financial goals as a champion of affordable, reliable and clean energy solutions with the expertise, balance sheet and capital resources appropriate for large-scale solar and storage projects,” he said.

Reporting its Q3 results last November, SunPower forecasted that CIS and Legacy business revenue in the fourth quarter would be US$31 – 41 million, but they were expected to post a loss of US$5 – 10 million due to supply chain impacts and project schedule delays.

SunPower’s move to bolster its presence in the residential sector has seen it recently launch a new financial services product aimed at making rooftop PV more affordable, while it also introduced a virtual power plant solution that enables SunVault energy storage system customers to get paid for allowing their local utility to use stored energy during peak demand.

SunPower also recently acquired residential solar provider Blue Raven for up to US$165 million to expand its presence in the US Northwest and Mid-Atlantic regions.

When the deal was announced in October, Faricy said it will allow SunPower to improve its revenue and margins through operating and scale efficiencies, including those from lower supply chain costs and the reduced costs of capital.

SunPower also announced last week it has appointed former Spotify and Gap executive June Sauvaget as its new chief marketing officer.

Read Next

June 25, 2025
US EPC contractor SOLV Energy has acquired high-voltage (HV) transmission contractor Arizona-based Spartan Infrastructure.
June 18, 2025
US solar tracker manufacturer Array Technologies has acquired APA Solar, a producer of foundations and fixed-tilt racking for solar projects.
Premium
June 18, 2025
Aesolar and Fraunhofer CSP are developing segmented solar modules optimised for rooftops with partial shading.
June 16, 2025
US solar residential installer Sunnova has received court approval for a US$90 million debtor-in-possession financing agreement.
Sponsored
June 12, 2025
At this year’s Intersolar Europe event, held in Munich, Germany, Solavita launched a new hybrid inverter for the C&I sectors.
June 11, 2025
A new report has claimed that creating a Sydney renewable energy zone (REZ) in New South Wales, Australia, could generate up to 21GW of renewable energy from rooftop solar PV.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico