SunStrong raises US$900 million to refinance SunPower residential portfolio

October 3, 2025
Facebook
Twitter
LinkedIn
Reddit
Email
The financing is backed by a 528MW solar portfolio in the US. Credit: SunPower

US renewable energy services provider SunStrong Management has raised US$900 million to refinance a “large portfolio” of residential solar assets developed by SunPower.

The financing takes the form of an asset-backed securitisation (ABS), a form of fundraising backed by assets, in this case a 528MW solar portfolio, split across 18 states, currently managed by SunStrong. The deal was closed on 30 September, with money raised in four phases, and was heralded as “another significant milestone” for the company by its leadership, which offers management and servicing of existing solar projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“This landmark ABS securitisation is the culmination of SunStrong’s work to create an independent servicing model on one hand, and a uniquely scaled residential solar portfolio on the other,” said Spencer Hunsberger, head of energy origination at ATLAS SP Partners, which served as the sole structuring agent and joint bookrunner for the transaction.

The deal represents that latest positive development for SunPower, which was pushed to the brink last year after breaching a credit agreement, and having to file for bankruptcy. In the year since, the company was acquired by Somplete Solaria, and acquired US residential installer Sunder, enabling the company to claim that it now operated the US’ fifth-largest residential solar company, by installed megawatts.

Following the US$900 million deal, SunStrong now owns a fleet of over 110,000 residential solar loans and leases in the US, with a combined capacity of 1GW. The company also has a further 19MW of community solar assets, although Wood Mackenzie and the Coalition for Community Solar Access (CCSA) have revised down their forecasts for the pace of new community solar additions by 8% since the passage of the One Big Beautiful Bill Act (OBBBA) in July.

PV Tech publisher Solar Media will host the 12th edition of the Solar & Storage Finance USA event on 21-22 October 2025 in New York. Panellists will discuss the fate of US solar and storage in a post-subsidy world, the evolving economics of standalone BESS and de-risking solar and storage supply chains.

Attendees are encouraged to respond to an anonymous survey on the US solar and storage sector, that will shape discussions at the summit. Tickets for the event are available on the official website.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 23, 2025
The average price of a solar PPA signed in Europe in Q3 2025 fell below €35/MWh, reaching €34.25/MWh, according to LevelTen Energy.
October 23, 2025
Infrastructure investment firm Nuveen Infrastructure has secured US$171 million in financing for a 137MW solar PV plant in South Korea.
October 23, 2025
US solar manufacturer T1 Energy sold approximately 725MW of solar modules in Q3 2025, as it continues to expand US manufacturing capabilities.
October 23, 2025
Aviva Investors and Astatine have announced an €800 million (US$928 million) investment in renewable energy and decarbonisation solutions.
October 22, 2025
Recurrent Energy, Ampliform and Dimension Energy have announced new financing rounds this month for US solar projects.
October 22, 2025
Leeward Renewable Energy has started commercial operations at its 177MW Ridgely solar project in the US state of Tennessee.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal