Total Energy Acquires SunPower's Commercial And Industrial Solar Business

French energy giant TotalEnergies has agreed to buy SunPower Corp.'s commercial and industrial solar business for 250 million, according to a Paris report on February 14.

The price includes 60 million in profitability, according to a statement. In a separate regulatory filing, SunPower said it would receive 190 million in cash and as much as 60 million "if certain legislative action is taken" by June 30. Total Energy is the majority shareholder of SunPower.

The acquisition will expand TotalEnergies' distributed generation business into the United States. A few months ago, San Jose, Calif.-based SunPower said it was exploring strategic options for its commercial and industrial segments due to its focus on the residential sector.

For SunPower, "the divestiture brings an end to a long period of quarterly volatility in the space," Raymond James analyst Pavel Molchanov said in a note Thursday.

SunPoweri aktsia tõusis neljapäeval päevasiseses kauplemises 3,1 protsenti.