- TotalEnergies signs an agreement with SunPower Corp to increase its RE capacity.
- TotalEnergies owns a majority stake in SunPower, a leading solar technology and energy services provider.
TotalEnergies has announced its signing of a definitive agreement to purchase SunPower Corp. for $250 million. This includes a $60 million earn-out contingent on regulatory evolution.
This acquisition is another step in TotalEnergies’ plan to grow its distributed generation business, with close to 500MW in operation globally. As a result, TotalEnergies will now be able to expand its distributed generation business footprint into the United States and develop over 100MW of additional capacity. Furthermore, this activity will create synergies with TotalEnergies’ large-scale solar energy portfolio in the United States, allowing B2B customers to benefit from more comprehensive energy solutions and new financing and project ownership capabilities.