SunPower says in talks with First Solar to develop residential panels
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SunPower (NASDAQ:SPWR
+2.7%) is in late-stage negotiations with First Solar (NASDAQ:FSLR
+2.2%) to develop residential solar panels, which could be available in 18-24 months, CEO Peter Faricy said Thursday during an analyst day presentation.
First Solar would produce the panels, and SunPower would be the exclusive provider, in the deal contemplated by the SunPower CEO, as reported by Bloomberg.
The panels would incorporate thin-film solar technology along with the more widely used crystalline silicon to try to capture more of the sun's energy, Nate Coleman, SunPower's chief products officer, said at the presentation.
SunPower also said it plans to sell 2.5M of the shares it owns in Enphase Energy (ENPH
+2.6%) as part of a push to bring its investment capacity to more than $1B through 2025.
SunPower "looks interesting on the selloff which has helped to balance the valuation into overall strong fundamentals," BOOX Research writes in a bullish analysis published on Seeking Alpha.