SunPower Inc., a US-based solar services and installation company, has closed a $12 million all-equity acquisition of Cobalt Power Systems. Cobalt Power Systems, which is based in Mountain View, California, will continue to operate as a standalone subsidiary under SunPower ownership. SunPower has stated that shared financial, human resources, and administrative practices will be implemented following the transaction. Cobalt’s operations include renewable energy system installations across residential, new home, multifamily, and commercial segments in California. SunPower has referenced a recent Cobalt installation at the Fortinet building in Sunnyvale, California, which used SunPower’s Monolith panel. According to SunPower, the acquisition is expected to contribute approximately $30 million in annual revenue. The company has said that the transaction strengthens execution capacity for complex projects and supports its ability to meet demand across key California markets, while maintaining Cobalt’s existing operational structure.