SunPower also entered into an asset purchase agreement (APA) with residential solar company Complete Solaria. Image: SunPower.
US residential solar provider SunPower has filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code.
At the same time, the company entered into an asset purchase agreement (APA) with residential solar company Complete Solaria—which is the result of a merger between companies Solaria Corporation and Complete Solar—to serve as the stalking horse buyer for assets associated with SunPower’s Blue Raven Solar business, New Homes business and non-installing Dealer network. Such a buyer is a company nominated by a company filing for bankruptcy to make an initial bid for its assets, to set a benchmark for other potential buyers to make bids.
(The above content is reproduced from pv-tech，By Jonathan Touriño Jacobo）
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