SunStrong raises US$900 million to refinance SunPower residential portfolio

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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.

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“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.

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