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SunPower and Wells Fargo in $100M solar deal

SunPower and Wells Fargo in $100M solar deal

San Jose-based SunPower Co. will be financed in the amount of $100 by Wells Fargo in solar systems. According to Barry Neal, director of Wells Fargo's Environmental Finance, there are growing opportunities to support renewable energy sector for next years and by helping financially SunPower, the solar electricity will be more affordable for businesses and other customers. Wells Fargo will fund commercial-solar systems through power purchase agreement. SunPower will design and build solar systems and then sell the power to customers. This way of financing has become available after a long time waiting for reopening the tax equity market that dried up at the end of last year.        

SF Business Times- 6/30/2009