SunPower has completed integrating Sunder Energy into its operations after acquiring the competing residential solar company in September, according to a press release.
“Usually closing an integration does not make headlines, but the most common acquisition failure mode is poor integration of the two companies, leading to devastating talent and value loss,” said T.J. Rodgers, chairman and CEO of SunPower. “We use a detailed acquisition process that has been successfully applied 28 times in three different companies, starting with Cypress Semiconductor.”
SunPower acquired Sunder Energy for $40 million, plus 10 million shares of common stock. Sunder was a national residential contractor based in Sandy, Utah, and worked in 21 states and Washington, D.C. The company specialized in third party owned (TPO) residential solar projects, which are still eligible for the commercial investment tax credit (48E). Rodgers stated that 93% of Sunder’s installed solar base is TPO.
The original version of SunPower filed for Chapter 11 bankruptcy in August 2024, and was acquired by residential solar dealer Complete Solaria. Since then, Complete Solaria adopted the moniker and has been doing business as SunPower.
News item from SunPower
