First Solar and SunPower have agreed to sell their Joint Venture solar power plant yieldco, 8point3 Energy Partners, to energy investment firm Capital Dynamics, Inc., for US$977 million in equity value and about US$1.7 billion in enterprise value in an all cash transaction.
US-headquartered PV manufacturers SunPower and First Solar are expected to collectively sell their stakes in their joint venture yieldco, 8point3 Energy Partners.
UK solar and wind asset owner Greencoat Renewables is eying an IPO to raise as much as €250 million (US$280 million) to pursue additional wind and solar projects across Europe.
Kansas City, Missouri-based developer Greenback Renewable Energy has acquired a portfolio of operating residential PV assets worth around US$6 million from an unnamed TerraForm Power subsidiary.
8point3 Energy Partners has agreed to acquire First Solar’s entire 34% stake in the 300MW Stateline solar PV project in California for US$329.5 million.
Yieldco 8point3 Energy Partners has entered into an agreement with SunPower to acquire a 49% stake in Pacific Gas & Electric’s 102MW Henrietta solar project for US$134 million.
The solar yieldco business model was “flawed from the beginning”, says a US bank executive, who downplays sentiment that it was the SunEdison yieldco disaster that tarnished the model for good.
The solar segment is not short of new hires and comings and goings, with solar industry stakeholders responding to the shifts in a dynamic global market. In our inaugural Movers & Shakers segment, PV Tech attempts to bring the industry back to its roots and rounds up key career moves of the last fortnight.
