SunPower’s acquisition by Complete Solar approved by US Bankruptcy Court

Complete Solar Holdings, Inc. has received approval from the US Bankruptcy Court for its acquisition of US-based SunPower Corporation’s Blue Raven, New Homes, and Dealer businesses, along with the SunPower brand and 1,000 employees, for $45 million in cash. The transaction is expected to be finalized by September 30, 2024. Complete Solar claims that with only 3.7% of US homes currently utilizing solar energy, there is significant growth potential. The company envisions a revitalized SunPower emerging as a lean, competitive American-owned company with a nationwide presence. Complete Solar also expressed gratitude for the recent $40 million investment from its backers, bringing the total to $80 million. The company remains confident that no further funds will be needed during the transition.