SunPower NASDAQ: SPWR at https://www.webull.com/quote/nasdaq-spwr recently announced that it has protected financial obligations to its residential solar rental programme, and to its new solar plus storage programme SunPower Equinoxsystem with SunVaultTM from Hannon Armstrong Sustainable Infrastructure Capital Inc). SunPower anticipates the new fund will help meet customers’ expected demand by mid-2021. These attractive customer financing arrangements complement SunPower’s current solar loan and cash sales options.
The new fund is structured as a leveraged, multi-partner tax equity partnership. The new fund is financed by both new and recurrent loan and equity groups which continue to have strong long-term relationships with SunPower and Hannon Armstrong. Due to its improved capital structure, SunPower expects the new facility to significantly reduce the financing costs and to continue the commitment of the company to its customers over the life of the lease.
Financing residential solar power
The wider range of financing options offered by SunPower and our technologically advanced solar energy solutions enables us to continue to satisfy growing customer requirements and to secure financing for our customers who may want to rent their solar solution with SunPower. SunStrong NASDAQ: SPWR, our long-standing programmatic joint venture with SunPower, continues to expand by delivering attractive equity solutions that help SunPower to build a new solar plus storage solution on this platform that gives homeowners resilience while power outages are often driven through climate change.
As the sole structuring and positioning agent for the multi-draw term loan, BofA Securities, Inc. acted as well as the sole tax equity investor.SunPower provides clients with financing for solar leases since 2010 and has offered them in many fields of the U.S., new homebuilders, with a market leading position, and direct sales teams through its residential solar network. The US residential business of SunPower recorded annual expansion in deployment last year of over 15 percent bringing over 330,000 houses to the total number of American homes with SunPower solar. Future-Looking Statements Included in the 1995 private securities litigation reform act, are forward-lancing statements this press release covers, but not limited to, declarations on customer funding and expected demand offerings and capabilities, as well as our ability to comply with them.
NASDAQ: SPWR regulatory changes, the availability of economic incentives to foster the use of solar energy, challenges in the management of our purchases, joint ventures and partnerships, fluctuations and declines in the performance of our panels and other products and solutions and potential disruptions to our business are all factors that may or will not be limited to these differences. You can use NASDAQ TotalView free version to do stock trading.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.