SunPower, Maxeon Solar extend current supply relationship

SunPower (SPWR) and Maxeon Solar Technologies (MAXN) have announced the extension of their supply relationship through 2025. Today’s updated agreement helps SunPower meet rising homeowner demand by providing SunPower with significant additional quantities of Maxeon’s high efficiency interdigitated back contact solar panels, while also significantly enhancing Maxeon’s presence in the U.S. residential market. Under the new supply agreement, Maxeon expects to sell additional volumes of its Maxeon 6 panels to SunPower on an exclusive basis. SunPower will also have the right to negotiate supply of future IBC next generation technology developed by Maxeon, which would enable SunPower to continue to provide homeowners the highest efficient solar technology available to date. Through these agreements, Maxeon cements the future of the relationship with SunPower and its proven track record of selling Maxeon’s premium IBC technology, and obtains a framework for future collaboration as Maxeon develops its next generation technology and increases capacity.