SunPower acquires US solar project portfolio from Infigen Energy

27 July 2015 (Last Updated July 27th, 2015 18:30)

American solar manufacturer SunPower has acquired a portfolio of 1.5GW of solar power plant assets under development in the US states, from Australia-based Infigen Energy.

American solar manufacturer SunPower has acquired a portfolio of 1.5GW of solar power plant assets under development in the US states, from Australia-based Infigen Energy.

With this new portfolio, the company now owns solar projects in several stages of development across 11 states.

SunPower CEO and president Tom Werner said: "The magnitude of this acquisition speaks to SunPower’s financial strength, as well as our expertise and leadership in global power plant development.

"It provides an expanded and geographically diverse portfolio of solar projects in the US that may all be generating cost-effective, emission-free power by the end of this decade."

"It provides an expanded and geographically diverse portfolio of solar projects in the US that may all be generating cost-effective, emission-free power."

The projects include three solar plants with total of 55MW, for which purchase agreements have been signed with Southern California Edison.

These projects are located in Kern County, California. The company is expected to start construction on these projects later this year, while commercial operation is scheduled in 2016.

Infigen Energy US CEO David Smith said: "SunPower brings significant experience and proven technology to ultimately transform these development assets into high-performing solar power plant projects, designed to reliably deliver value over the long-term.

"Infigen is pleased to have completed this transaction with SunPower."

Meanwhile, the company is also planning to sell some of the acquired projects to its 8point3 Energy Partners LP joint yieldco with First Solar.

In April, SunPower partnered with Apple to develop two power projects in the ABA Tibetan and Qiang Autonomous prefectures of China.

The projects included Hongyuan Huanju Ecological Energy with 20MW its capacity, and Ruoergai Huanju Ecological Energy at 20MW.