Acquisition Of Solar Installer Warms SunPower’s Future
December 28, 2006
Acquisition Of Solar Installer Warms SunPower’s Future
By Brian Womack
The math isn’t complicated for the solar energy sector.
The industry wants to cut solar prices by roughly half to compete against traditional power utilities without government incentives.
SunPower (NASDAQ:SPWR), a major solar panel maker, has been a leader in this effort and recently announced one of the biggest acquisitions in the industry’s history to help the San Jose, Calif., company reach that goal.
The company plans to buy PowerLight, a firm that installs solar panels, for about $330 million. The cash-and-stock deal should close early next year, pending approvals.
Together the companies will hold a stake in the key parts of the industry, from design through manufacturing to installation. With that breadth, the company hopes to find new ways to cut costs more quickly. Entire story
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