The Arizona - headquartered solar power company wants to strategically align its resources to support its new Series 6 module, and thus seeks sale of its stake in the joint
SunPower yieldco.
Not exact matches
In its long list of firsts, SunEdison had also developed the world's first solar -
yieldco, TerraForm Power, blazing a trail followed by NextEra Energy, NRG and later
SunPower and First Solar.
First Solar is also planning to withdraw from
yieldco 8point3 Energy Partners, which it jointly sponsors with
SunPower.
With the possibility of sharing technology between the two entities, the
yieldco could be the first step in greater collaboration between
SunPower and First Solar.
8Point3 Energy Partners LP (NASDAQ: CAFD) was initially founded as a joint venture
yieldco between First Solar, Inc. (NASDAQ: FLSR) and
SunPower Corporation (NASDAQ: SPWR) with the intention of buying solar assets from both entities and then paying up to 80 percent as a dividend.
Finally, First Solar knows when it's time to consider joining its rival rather than beating it, as it and
SunPower consider joining forces to offer a dividend - oriented
yieldco for solar projects.
First Solar was down 5 %, despite achieving world record thin film module conversion efficiency and pricing its IPO for 8point3, a
yieldco formed in conjunction with
SunPower.
First Solar and
SunPower fell 1 % and 11 % in sympathy with SunEdison and its
yieldcos.
SunPower reaffirms belief that the
yieldco can deliver long - term assets and growth.
First Solar is also planning to withdraw from
yieldco 8point3 Energy Partners, which it jointly sponsors with
SunPower.
In response to First Solar's statement,
SunPower confirmed that it will coordinate with First Solar on this review of the
yieldco, with
SunPower CEO and president Tom Werner stressing: «We will work with our financial advisors to evaluate all alternatives for our investment in 8point3, including a potential replacement partner for First Solar, as we believe 8point3 can continue to benefit from owning long - term, high quality renewable assets.»
And we divined the debut of
SunPower - First Solar
YieldCo, 8point3.