SunPower protects USD 450m to grow residence solar, storage offerings

• SunPower Corp (NASDAQ: SPWR) has actually obtained more than USD 450 million (EUR 409.5 m) in funding to back its residential solar as well as storage space loan programme in response to high client demand.

The United States solar technology and also power services provider claimed on Wednesday that the fresh capital came from climate remedies financier Hannon Armstrong Sustainable Facilities Resources Inc (NYSE: HASI) as well as France's Credit Agricole CIB.

In order to meet boosted demand for its products, SunPower Financial will certainly get loans made to SunPower clients and offer customers loan alternatives with tenors of as much as 25 years.

"Amongst our leading value propositions is full consumer option when it comes to just how our clients purchase our solar and storage space systems," stated Guthrie Dundas, SunPower's interim chief financial officer.

SunPower Financial was established in 2021 to offer options for buying solar and also other house energy solutions. The firm offers solutions such as design, sales and also setup of solar and also power storage space systems and also supplies choices for their funding.

SunPower and also HASI are already collectively giving solar lease financing. Back in 2019, they developed a joint venture with the goal of maintaining the 30% government Investment Tax Credit (ITC) value for third-party-owned commercial and also household installations.