Tuesday, November 21, 2006

SunPower Gobbles up Powerlight, actually purchases.

Solar San Diego reports about SunPower a division of Cypress Semiconductor purchasing PowerLight, a leading provider of large scale solar project systems for $332.5 million in cash and stock.
From the press release;
"Together, SunPower and PowerLight aim to accelerate the reduction of solar power costs to compete with retail electric rates without incentives," said Tom Werner, SunPower CEO. "PowerLight is one of the premier system integrators worldwide and presents us with a downstream investment opportunity that will accelerate SunPower's revenue growth while meeting our long-term financial model. By working closely with PowerLight over the past year as one of its key suppliers, we have gained great respect for their innovative products and the breadth and depth of their customer relationships. We intend to build on our strong market positions and duplicate our success in other emerging markets.""
Read more and find the press release at Solar San Diego.
Links;
Solar San Diego
Sunpower
Powerlight

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