SunPower secures waiver renewals and $20m financing commitments to support long-term financial strategy

SunPower Corp. (SPWR), a prominent provider of residential solar technology and energy services, has secured further waiver extensions from Atlas Securitized Products Holdings, L.P., and Bank of America. These extensions prolong the temporary waivers until February 16, 2024. In parallel, the company has garnered commitments for $20 million in financing from its major shareholders, TotalEnergies, and Global Infrastructure Partners.

The additional financial support and waiver extensions provide SunPower with a valuable runway to engage in ongoing discussions with key financial partners. The company aims to thoroughly assess various strategic alternatives as it works towards identifying a long-term financial solution. SunPower continues to navigate the dynamic landscape of the solar industry, leveraging these financial resources to explore sustainable avenues and ensure its position as a leading player in the residential solar market.