SunPower eyes cash boost with 233-MW sale to Goldman Sachs

Sunpower modules. Author: pgegreenenergy. License: Creative Commons, Attribution 2.0 Generic.

April 1 (Renewables Now) - SunPower Corp (NASDAQ:SPWR) has agreed to unload a 233-MW portfolio of commercial solar project leases to a subsidiary of Goldman Sachs Renewable Power LLC for up to USD 86.9 million (EUR 77.4m).

The particular assets are located at around 200 sites in the states of Alabama, Arizona, California, Colorado, Connecticut, Hawaii, New Jersey, New York and Texas, solar panel maker and installer SunPower said in a regulatory filing last week. Among the portfolio’s lessors are Wells Fargo Bank, PNC Bank, MetLife, Regions Bank and SunTrust.

The related projects owned on a leased basis will be sold by SunPower AssetCo LLC to Elizabeth Cady Lessee Holdco LLC, a Delaware-based unit of Goldman Sachs. The transaction, however, is subject to customary conditions precedent, including third-party consents and approvals by the concerned lessors.

(USD 1.0 = EUR 0.890)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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