The deal is the first between SunPower and Google, the latter having created a $280m fund for SunPower’s solar-leasing rival SolarCity in mid-2011, nearly a year and a half before that company’s IPO.
The announcement follows a string of recent solar-lease financing deals for SunPower – including a $220m package with Bank of America Merrill Lynch.
Solar leasing is a relatively small but fast-growing part of SunPower's overall business, which also includes module sale and utility-scale project development.
SunPower
