KKR to buy USD 550m in solar loans from SunPower

• United States personal equity firm KKR & Co (NYSE: KKR) has actually struck a definitive offer to buy USD 550 million (EUR 624m) worth of solar power loans made to clients of SunPower Corp.

The US solar modern technology and energy companies introduced the agreement on Wednesday, stating the move will support the capability of SunPower Financial to provide eye-catching loan alternatives to its clients.

The loan portfolio will certainly be obtained by credit funds and accounts handled by KKR, expanding SunPower's capabilities to offer incremental solar loans to USD 1 billion. The offer undergoes customary post-closing problems.

"As need remains to climb, we anticipate this extra funding will power our loan bookings volume into 2024 and make it possible for SunPower to boost access to the benefits of solar for even more house owners" stated Guthrie Dundas, interim CFO of SunPower.

SunPower Financial was set up in 2021 to offer solutions for getting solar as well as other home power remedies. The business offers services such as layout, sales as well as installation of solar and also power storage space systems and also offers options for their financing.