SunPower expands with Sunder Energy: Solar installation company SunPower has agreed to acquire Utah-based solar sales company Sunder Energy in a $40 million cash-plus-stock deal expected to close this week. SunPower projects Sunder’s 46 MW of 2025 sales contracts could generate up to $247 million in combined sales and EPC revenue for the company as it expands coverage from 22 to 45 states. SunPower’s projection for its own total revenue for 2025 is about $300 million. The acquisition will immediately boost SunPower’s sales revenue in Q4 2025 and scale its US residential solar presence significantly.
“In Q3’25 and Q4’25 we expect to have our third and fourth consecutive quarters of operating profit after four years of old-SunPower losses, and we also expect to set post-acquisition revenue and profit records in Q4’25, the first quarter after the merger. We are currently redoing our 2026 plan to account for the acquisition and will share our outlook soon,” said SunPower CEO T.J. Rodgers. SunPower has rebranded from Complete Solaria to retain the iconic solar brand name (see SunPower To Return, As Complete Solaria Announces Rebranding).
BASF Freeport powered by renewables: Spanish renewable energy company X-ELIO has begun operations at its 72 MW Liberty Energy Project in Dayton, Texas, which also includes 60 MW of battery storage. The facility is X-ELIO’s maiden combined solar and storage project in the US. The American arm of the German chemicals group BASF will source 48 MW of electricity from the Liberty project to power its Freeport site under a 12-year PPA announced in 2022. “Thanks to our partnership with X-ELIO, we are able to supply 100% of our expected purchased power at our Freeport site from renewable sources,” said BASF Freeport Senior Vice President and General Manager, Brad Morrison.
Turning EVs into power plants: Residential solar and storage company Sunrun has activated the US’s 1st residential vehicle-to-grid distributed power plant with Baltimore Gas and Electric Company (BGE), using Ford F-150 Lightning trucks to send stored energy to the grid during peak demand. The pilot program, which began with vehicle-to-home capability last year, now dispatches power from 3 participating customers’ trucks to both their homes and the grid. Starting in July, the enrolled F-150 Lightning trucks dispatched energy to the grid between 5 p.m. and 9 p.m. on weekdays, earning participating customers a payment based on the amount of energy shared – up to a maximum of $1,000 for the dispatching season that runs through the end of September. Sunrun says that the initiative showcases how electric vehicles can support grid reliability, lower costs, and offer new income streams while advancing clean energy goals.
Amazon inks solar deal: Part of Spain’s Iberdrola group, US-headquartered energy company Avangrid has signed a power purchase agreement (PPA) with e-commerce giant Amazon for energy from the 57 MW DC/41 MW AC Oregon Trail Solar project in Gilliam County, Oregon. Expected to begin operations in 2027, the project will supply renewable power to Amazon data centers in the region, create about 200 construction jobs, and deliver $6 million in local tax benefits. Avangrid says this PPA follows its previous deal with Amazon for power from the Leaning Juniper IIA repower project, also located in Gilliam County. Both companies have agreements to generate power from several renewable energy projects in Illinois, Ohio, and North Carolina as well.
$525 million financing secured: Independent power producer Soltage has secured a $525 million tax credit investment agreement to deploy 260 MW of solar and storage capacity in the US. The 2-year structure involves investment tax credit (ITC) purchases, providing stable, long-term capital for its more than 2 GW project pipeline. A Fortune 500 company has also committed to purchasing tax credits under the partnership through 2026, stated Soltage.
Enel raises capital globally: Enel Finance International N.V., the finance arm of Enel S.p.A., has successfully launched a $4.5 billion multi-tranche bond for US and international institutional investors, approximately 3 times oversubscribed. The proceeds will fund ordinary financing needs, including debt refinancing. The issuance spans 4 tranches with maturities from 2028 to 2055 and an average cost of 3.6% in euros. The transaction was supported by a syndicate of banks, with BNP Paribas, Bank of America, Citigroup, Crédit Agricole, Goldman Sachs, HSBC, IMI – Intesa Sanpaolo, J.P. Morgan Securities LLC, Mizuho, Morgan Stanley, Société Générale, and Wells Fargo acting as joint bookrunners. Enel says sustainable finance instruments, especially those linked with sustainability, have helped it raise the share of renewable energy in its energy mix to 73% in 2024, from 41% in 2015. It enabled the reduction of the intensity of Scope 1 GHG emissions related to power generation to 101 gCO2eq/kWh (-72% compared to 2017).