TotalEnergies to Acquire SunPower's Commercial & Industrial Solar Business

PR Newswire2022-02-10

TotalEnergies (NYSE:TTE) today announced it has signed a definitive agreement with SunPower Corp.'s (NASDAQ:SPWR) to purchase its Commercial & Industrial Solutions (CIS) business for $250 million, ...

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Ahwei6868
2022-02-10
Ahwei6868
Ok
WilliamFish
2022-02-10
WilliamFish
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Mooimooi
2022-02-10
Mooimooi
Please like
4153476f
2022-02-10
4153476f
Wow
Chloess
2022-02-10
Chloess
Huat

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}","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2210297562","pubTimestamp":1644485726,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"TotalEnergies (NYSE:TTE) today announced it has signed a definitive agreement with SunPower Corp.'s ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SPWR":"SunPower","BK4519":"光伏太阳能","TTE":"道达尔","BK4141":"半导体产品"},"translate_title":"TotalEnergies将收购SunPower的商业和工业太阳能业务","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SPWR":1,"TTE":0.9},"content_text":"TotalEnergies (NYSE:TTE) today announced it has signed a definitive agreement with SunPower Corp.'s (NASDAQ:SPWR) to purchase its Commercial & Industrial Solutions (CIS) business for $250 million, including $60 million of earn-out, subject to regulatory evolution. TotalEnergies is the majority shareholder of SunPower, a leading solar technology and energy services provider.This acquisition is another step in TotalEnergies' roadmap to develop its distributed generation business, currently accounting to close to 500 MW in operation worldwide. It will allow TotalEnergies to extend its distributed generation business footprint to the U.S. and to develop over 100 MW of additional capacity per year. 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It is a new milestone in our renewable development in the country, where we are targeting 4 gigawatts of solar capacity by 2025\", said Vincent Stoquart, senior vice president Renewables for TotalEnergies. \"This will also give SunPower additional resources to focus on the growing residential market. We look forward to welcoming the Commercial & Industrial teams and ensuring the continuity of TotalEnergies' commitment in this business as we integrate this high-quality portfolio of products and customers.\"\"TotalEnergies is the ideal partner for our CIS business to take advantage of the growing commercial market and opportunities like community solar and front-of-meter storage,\" said Peter Faricy, CEO of SunPower. \"The sale enables SunPower to focus on creating a superior residential experience, increase our investment in product and digital innovation, and reach more homeowners. The enhanced strategic clarity created by this transaction will help SunPower lead the industry and deliver maximum value to our investors, partners and customers.\"Following a thorough process involving discussions with a number of parties, and upon the unanimous recommendation of a special committee of SunPower's independent directors, the acquisition has been approved by both companies. The transaction is expected to close early Q2 subject to the satisfaction of customary closing conditions. 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