SunPower secures over $300 million of project financing commitments

By Marisa Wong

Los Angeles, Feb. 23 – SunPower Corp. announced it has secured over $300 million of project financing commitments from funds managed by Apollo, Atlas SP Partners and Hannon Armstrong Sustainable Infrastructure Capital, Inc. for its residential solar and storage lease programs, which will be paid upon installation.

Together with its recent capital raise, the company now has access to more than $500 million dollars of capital, provided it meets certain funding conditions, according to a press release. This includes amendments to its existing first-lien financing and a second-lien term loan from Sol Holding LLC.

The residential solar technology and energy services provider is based in Richmond, Calif.

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