SunPower announces financing commitments of over $450M for loan program

SunPower (SPWR) last night announced that it has secured financing commitments of more than $450M for its residential solar and storage loan program from HASI (HASI) and Credit Agricole CIB. The vehicle will acquire loans made to SunPower customers and is non-recourse to SunPower. the company said in a statement. Through this transaction, SunPower Financial "will continue to provide customers with attractive loan options at tenors up to 25 years for their transition to a cleaner and lower-cost future," it added. "We continue to build and strengthen our suite of world-class financing products to meet growing demand. This new transaction also illustrates the health and resilience of consumer credit markets during the recent period of shifting conditions," said Guthrie Dundas, SunPower interim Chief Financial Officer.