Acquires SolarWorld Americas’ Assets in Hillsboro, Oregon Starts Conversion to P-Series Technology
SAN JOSE, Calif., Oct. 1, 2018 /PRNewswire/ — Following up on its commitment last spring to invest in American manufacturing, SunPower (NASDAQ:SPWR) today announced that it has completed its acquisition of certain assets of SolarWorld Americas. That’s including its Hillsboro, Oregon facilities and its predominantly manufacturing workforce of more than 200 employees. Seems that SunPower has already begun to inject fresh capital into the factory. So as it executes plans to implement its leading-edge high efficiency P-Series solar panel manufacturing technology.
In addition, SunPower has already begun implementing its plans to move relevant equipment to Hillsboro. Also and more interesting it’s rapidly converting the existing module capacity to manufacture 19 percent efficient P-Series technology.
During this transition, Hillsboro employees will continue to produce SolarWorld Americas product. Therefore, over the next several months before refocusing on manufacturing SunPower P-Series products.
Also, SunPower is a leader in the residential and commercial markets. It will sell 19 percent efficient P-Series panels as part of a comprehensive high-efficiency product portfolio. Finally, that includes X- and E-Series. Best part and most noteworthy, beginning in 2019, it will include its newly developed next generation technology.
However, the purchase price for the SolarWorld Americas assets was not disclosed.
In conclusion, All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.