Silicon Valley-based SunPower will put up $235m in cash, and offer $42m in a letter of credit and promissory notes to SunRay’s existing shareholders, which include its managers and US private-investment firm Denham Capital.
SunPower will gobble up SunRay’s project pipeline stretching across Italy, France, Israel, Spain, the UK and Greece, as well as its 70 employees spread across its power-plant development and project finance teams.
Gian
