US based SunPower Inc. has announced that it has signed a letter of intent for an all-equity acquisition of Cobalt Power Systems. Cobalt Power Systems is a Mountain View-based solar design and installation company. The company reported revenue of $35 million and employed 96 people. SunPower stated that Cobalt designed and installed large residential systems, including 100-panel configurations rated at 45,000 watts, often paired with up to 20 batteries.The transaction positioned Cobalt as a standalone subsidiary due to its focus on larger, higher-cost systems and a different operating model. Cobalt has 23 years of operating history, was the first SunPower Elite Dealer in the US, and delivered residential, educational and commercial projects, including a 1.4 MW system at Santa Clara University and installations at the Fortinet building in Sunnyvale. The acquisition followed SunPower’s earlier collaboration with REC Group, which introduced the 470 W Monolith solar panel with SunPower Inc. in Utah, highlighting its focus on premium residential solar systems.