SunPower sells key assets for $45 million to Complete Solaria amid bankruptcy proceedings 

The company filed for bankruptcy in Delaware and plans to wind down operations, ending the decades-long run of the once-venerated US solar firm. 

SunPower added that it listed its assets and liabilities of $1 billion to $10 billion in its Chapter 11 petition in the US Bankruptcy Court for the District of Delaware.  

Under the terms of the asset purchase agreement, subject to court approval, Complete Solaria will acquire the assets and assume certain related liabilities for $45 million in cash. 

T.J. Rodgers, CEO of Complete Solaria, said, “We look to welcome Blue Raven Solar, the SunPower New Homes Division, and a portion of SunPower’s Dealer network into the Complete Solaria portfolio. This acquisition will strengthen our position in the market and put more muscle behind our commitment to driving the future of clean, reliable energy.” 

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Additionally, SunPower plans to continue selling its remaining assets and executing any resulting transactions under Section 363 of the US Bankruptcy Code. 

Werner also said, “We are working to secure long-term solutions for the remaining areas of our business while maintaining our focus on supporting our valued employees, customers, dealers, builders, and partners.”