Complete Solar Holdings, Inc. d/b/a Complete Solar ("Complete Solar" or the "Company") (NASDAQ:CSLR), a solar technology, services, and installation company, today announced that the United States Bankruptcy Court for the District of Delaware has approved the going concern sale of substantially all assets of the Blue Raven, New Homes and Dealer businesses of SunPower Corporation and certain of its affiliates to Complete Solar for $45 million in cash. The sale is expected to close on or before Monday, September 30, 2024, at which time SunPower businesses, the SunPower brand, and about 1,000 employees will become part of Complete Solar, the temporary name of SunPower during this transition.
T.J. Rodgers, Complete Solar's CEO, commented "This is a pivotal moment in the history of SunPower, one of the most storied US solar companies. The dark cloud currently hanging over the US solar industry will not bring SunPower's demise. And when that cloud recedes – as it must, since only 3.7% of American homes have solar power in an age when solar energy has literally become cheaper than fossil fuel energy – the New SunPower will re-emerge as a lean and competitive American-owned company with a national footprint.
