SunPower Corp (NASDAQ:SPWR) has concluded the acquisition of assets of Oregon-based solar panel maker SolarWorld Americas, including its facilities in Hillsboro where SunPower will soon be producing 19% efficient P-Series panels.
The US solar major said Monday it is already injecting fresh capital in Hillsboro, in line with its plan to deploy at the factory P-Series, or Performance Series, manufacturing equipment. It aims to start product shipments by the first quarter of 2019.
In June, The Oregonian cited Tom Werner, CEO and chairman of SunPower, as saying that the investment in the upgrade of the Hillsboro solar module factory would be of up to USD 15 million (EUR 13m).
The SolarWorld acquisition involves over 200 employees of the target, most of which are engaged in manufacturing. SunPower said that in the next several months, the Hillsboro employees will continue to produce SolarWorld Americas products. At some point they will refocus on the SunPower P-Series.
Tom Werner said that with the help of the experienced Hillsboro workforce and the P-Series technology, the company will be able to meet the strong demand on the US solar market with high-performance American-assembled panels.
SunPower said in April it had agreed to take over SolarWorld Americas and that this would make it the largest solar panel producer in the country. The purchase price for the target’s assets has not been disclosed.
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