SunPower, Wells Fargo kick off $100M financing program for commercial solar PV systems

Facebook
Twitter
LinkedIn
Reddit
Email

SunPower and Wells Fargo have joined together in a new collaborative effort to fund as much as $100 million in SunPower commercial-scale solar photovoltaic systems. Under the financing program, the partners say that SunPower will sign power purchase agreements (PPAs) with qualified customers, and the bank will finance the PV systems, which will be designed, built, operated, and maintained by the solar company.

Customers hosting the systems will buy the electricity from SunPower at prices that are competitive with retail rates, providing them with what the companies describe as a long-term hedge against rising power prices and the ability to take advantage of the environmental and financial benefits of solar power with no initial capital investment.

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 first projects financed under the program include a 1.1MW system for the University of California, Merced, and a 1MW array for the Western Riverside County (CA) Regional Wastewater Authority. Both installations, which are scheduled for completion by year end, will be ground-mounted systems using SunPower’s T20 Tracker technology.

Read Next

July 7, 2025
The board of REC Silicon is running out of time on a buyout offer by Korean conglomerate Hanwha previously dismissed as "lowball".
Premium
July 7, 2025
Collecting project performance data and managing cybersecurity concerns is no simple task for many project managers.
July 7, 2025
ReNew has received a non-binding final acquisition offer from a consortium at US$8 per share, which is 13.2% more than their earlier offer.
July 7, 2025
Chinese energy giant China Petroleum and Chemical Corporation, also known as Sinopec, has commenced operations at a 7.5MW offshore floating PV plant in China.
July 7, 2025
GameChange Solar has announced plans to supply trackers for the 1GW second phase of the Abydos project in Egypt.
July 7, 2025
Private equity firm Ardian has completed the acquisition of French independent power producer Akuo, a transaction unveiled in March 2025.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK