SunPower takes 42 % stake in Australia's Diamond Energy
13 Oct 2012
US solar panel maker SunPower Corporation (SunPower) earlier this week acquired around 42 per cent stake in Diamond Energy, with an option to increase its ownership percentage over time.
With the acquisition, SunPower would be able to offer more comprehensive and customisable clean energy solutions for customers in Australia.
This would create a one-stop shop for consumers, providing high efficiency solar electric systems, grid-source renewable energy, and retail services including metering, billing, and management of exported electricity to the grid.
The companies would also work on development of commercial and utility solar power projects in Australia.
SunPower will get a seat on the board of directors of Diamond Energy.
Solar energy is on an expansion trajectory in Australia. The first large scale photvoltaic solar project in the country was put on stream on Wednesday. The 10 MW Greenough River Solar Farm near Geraldton, Western Australia was officially opened by Western Australia energy minister Peter Collier.
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