SunPower Acquires 1.5-GW of solar power projects

SunPower acquires solar power projects

SunPower (Nasdaq: SPWR) acquired 1.5-GW of U.S. solar power plant developments from Australia-based Infigen Energy.

The portfolio includes three projects totaling 55 MW with power purchase agreements with Southern California Edison (SCE). SunPower scheduled the start of construction for later in 2016 with operation expected by 2016.

SunPower expects to offer some of the projects for sale to 8point3 Energy Partners LP (Nasdaq: CAFD), the YieldCo joint venture between SunPower and First Solar (Nasdaq: FSLR).

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