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.
8Point3 Energy Partners the yieldco of First Solar and SunPower said it did not plan to acquire further PV power plant projects from its parent companies in the first half of 2017, after recent acquisitions that took its portfolio to 942MW.
Over the past 12 months, the US solar business has been on a rollercoaster ride, with the high-profile bankruptcy of SunEdison and the merger of SolarCity and Tesla stealing the headlines. Danielle Ola talks to the experts about some of the key trends shaping the world of solar finance
and investment in the US.
8point3 Energy Partners, the yieldco company formed by SunPower and First Solar, has signed agreements to acquire interest in the 50MW Hooper Project from SunPower and the 40MW Kingbird Project from First Solar.
Wells Fargo and 8point3 Energy Partners — the yieldco company formed by SunPower and First Solar — has announced that a joint venture between the two companies has acquired 22MW of SunPower PV systems under constitution at 27 Kern High School District locations in Kern Country, California.