SunPower takes 42% stake in Australia's Diamond Energy

US solar panel maker SunPower has acquired a 42% stake in Australian renewables developer Diamond Energy.

The move is aimed at bringing SunPower closer to its customers, says Tom Werner, the company’s chief executive.

Melbourne-based Diamond Energy currently operates two biogas plants and develops wind and solar projects.

It also sells energy that it acquires via power-purchase agreements with third parties to residential and commercial customers.

“We look forward to this new venture and expect it to serve as a model for SunPower's continuing evolution into a complete energy solutions provider," says Werner in a statement.

SunPower, like other panel makers, is trying to move downstream to boost its Log in to read complete article.

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login