SunPower faces class action lawsuits for allegedly misleading investors about misreported cost metrics. The company admitted to internal financial control issues and potential $16-20 million overstatement of consignment inventory, planning a restatement for fiscal 2022 and H1 2023. It is negotiating with Bank of America for upcoming financial restatements.
SunPower’s financial accuracy under scrutiny
CEO cites industry challenges, reduced net loss guidance, and recent positive signs. Illustration by Bing AI.
AfDB funded two 15 MW solar plants in Chad to generate 61 GWh annually and cut emissions by 49,000 tons per year. (Image Credit/Source: LCEC/Pixabay)
Algeria and GE Vernova discussed 15 GW renewable energy projects, including solar, as Sonelgaz led talks in Atlanta. (Image Source:Zawya)
LRE powered up Morrow Lake Solar, supplying 200 MW to Microsoft with innovative solar tech and eco-friendly land use. (Image Credit/Source: StockSnap/Pixabay)
re:cap green energy acquired 51.7 MW solar projects from Milvio Energy, with completion expected between Q1 and Q4 of 2025. (Image Credit/Source: TheOtherKev/Pexels)