First Solar, SunPower submit Registration Statement for proposed IPO for new yieldco

 First Solar, SunPower submit Registration Statement for proposed IPO for new yieldco

First Solar Inc. and SunPower Corp. filed a Registration Statement with the Securities and Exchange Commission (SEC) for an initial public offering (the IPO) of Class A shares representing partner interests in 8point3 Energy Partners, a limited partnership formed by the two companies. 8point3 Energy Partners will serve as a joint yieldco to own and operate a portfolio of solar generation assets.

Completion of the IPO is subject to the execution of definitive documentation, each party's board approval, and regulatory approval.

Yieldcos pool projects into publicly traded companies that offer payouts to shareholders; companies can sell completed projects to yieldcos — which will operate the plants and sell the electricity — then the
companies can use the capital to fund new power plant projects.

The partnership would be one of the only yieldcos to hold primarily solar farms. Additionally, the partnership will also combine SunPower’s polysilicon technology with First Solar’s thin-film panels.

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