{"id":1004222679,"date":"2018-04-23T06:13:59","date_gmt":"2018-04-23T14:13:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004222679"},"modified":"2022-12-09T02:00:25","modified_gmt":"2022-12-09T10:00:25","slug":"sunpower-to-buy-u-s-competitor-solarworld","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sunpower-to-buy-u-s-competitor-solarworld\/","title":{"rendered":"SunPower to Buy U.S. Competitor SolarWorld"},"content":{"rendered":"<p>By Anca Gagiuc<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/photovoltaic-2814504_1920.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004222685\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sunpower-to-buy-u-s-competitor-solarworld\/photovoltaic-2814504_1920\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/photovoltaic-2814504_1920.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;7.1&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 6D&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1443448183&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;32&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.005&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"photovoltaic-2814504_1920\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/photovoltaic-2814504_1920.jpg?w=800\" class=\"alignright wp-image-1004222685 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/photovoltaic-2814504_1920.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/photovoltaic-2814504_1920.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/photovoltaic-2814504_1920.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/photovoltaic-2814504_1920.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>The new solar tariffs imposed under the Section 201 trade case brought by Suniva and SolarWorld Americas have raised criticism from U.S.\u00a0solar companies. One of the avid critics of the decision, U.S.-based SunPower, was negatively impacted by the <a href=\"https:\/\/www.commercialsearch.com\/news\/trumps-tariffs-on-solar-divide-nation\/\">30 percent import tariffs<\/a> on all foreign-made solar panels, leading it to come up with a new strategy to remain competitive.<\/p>\n<p>SunPower has announced its intention to acquire trade case petitioner SolarWorld Americas, the U.S. arm of Germany\u2019s SolarWorld AG, increasing its U.S. manufacturing business.<\/p>\n<h2>Investing in U.S. manufacturing<\/h2>\n<p>The acquisition will make SunPower one of the largest<a href=\"https:\/\/www.commercialsearch.com\/news\/green-street-snags-sunpower-pv-projects-in-ny\/\"> solar panel manufacturers in the U.S.<\/a> (Currently, the company makes higher-priced, high-efficiency solar modules, mostly manufactured in Mexico and Asia.)<\/p>\n<p>But that&#8217;s not the only reason SunPower is pursuing this deal\u2014the firm is also hoping the acquisition will allow it to be exempted from tariffs on the higher-priced panels it produces overseas. SunPower is the only global manufacturer of interdigitated back contact (IBC) solar cells at scale. Based on this, the company hopes the U.S. Trade Representative will approve its application to have its products excluded from the new tariffs, as there is no U.S. competitor that manufactures a similar product. SunPower also plans to invest in factory improvements and increased working capital as part of the SolarWorld acquisition, as well as upgrade a portion of SolarWorld\u2019s facility to produce P-Series solar panels. SolarWorld America\u2019s legacy products will continue production under the new ownership.<\/p>\n<p><em>&#8220;The time is right for <a href=\"https:\/\/www.commercialsearch.com\/news\/sunpower-helix-carport-system-powers-co-working-space-in-ca\/\">SunPower to invest in U.S. manufacturing<\/a>, and SolarWorld Americas provides a great platform for us to implement our advanced P-Series solar panel manufacturing technology right here in our home market. P-Series technology was invented and perfected in Silicon Valley, and will now be built in SolarWorld Americas&#8217; factory, helping to reshape solar manufacturing in America,&#8221;<\/em> Tom Werner, SunPower CEO &amp; chairman of the board, said in prepared remarks.<\/p>\n<p><em>&#8220;We are delighted that SunPower has agreed to inject fresh capital and their industry leading P-Series technology into SolarWorld Americas operations here in Hillsboro&#8230;We are thrilled about this acquisition as it means, quite simply, that our company can look forward to redoubled strength as it continues to innovate and expand into the future. This outcome is ideal for SolarWorld Americas and its employees,&#8221;<\/em> added J\u00fcrgen Stein, CEO of SolarWorld Americas.<\/p>\n<p>The financial details were not disclosed, but the deal will take a couple of months to finalize.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm hopes the acquisition will not only increase it.s U.S. manufacturing business, but also increase the likelihood that its products will be excluded from the Trump administration&#8217;s new solar tariffs. <\/p>\n","protected":false},"author":237,"featured_media":1004222685,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,23891,21742,21786],"tags":[35875,34129,39975],"class_list":["post-1004222679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-national","category-latest","category-sustainability","tag-solar-power","tag-sunpower-corporation","tag-u-s-trade-representative"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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