SunPower Acquires US Rival SolarWorld Americas

The company will inject fresh capital into the SolarWorld Americas facility and implement leading-edge, high-efficiency P-Series solar panel manufacturing technology.

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SunPower has acquired 100 percent of the Hillsboro, Oregon-based SolarWorld Americas, a leading American manufacturer of solar panels.

However, the purchase price was not disclosed by the company.

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The company will inject fresh capital into the SolarWorld Americas facility and implement leading-edge, high-efficiency P-Series solar panel manufacturing technology.

Commenting on the deal, SunPower, CEO and Chairman of the Board, Tom Werner said, “The time is right for SunPower to invest in US manufacturing, and SolarWorld Americas provides a great platform for us to implement our advanced P-Series solar panel manufacturing technology right here in our home market. P-Series technology was invented and perfected in Silicon Valley, and will now be built in SolarWorld Americas' factory, helping to reshape solar manufacturing in America.”

SunPower plans to ramp SolarWorld Americas operations to capitalize on strong US market demand.

The company will invest in factory improvements and increased working capital, while retrofitting a portion of the facility to produce P-Series solar panels, in addition to continuing to produce and ship SolarWorld Americas' legacy products.

Like SolarWorld Americas, SunPower has spent decades perfecting its technology and manufacturing processes, and this announcement marks the company's return to U.S. manufacturing.

However, the deal is subject to necessary US and German regulatory approvals and other closing conditions.

Meanwhile, the deal is expected to close in the next several months, and after closing SunPower will become the largest US solar panel manufacturer.