Morning Brief: Maxeon raising money, SunPower and Nautilus expanding community solar


Metro agrees to $50 million deal with SunPower and Goldman Sachs Renewable Power that will drive revenue and create the largest community solar project in the region. Metro today announced it has reached a deal worth up to $50 million over 25 years, with SunPower and Goldman Sachs Renewable Power to install solar paneled carports or canopies over surface lots and above parking garages at four rail stations. Combined, the four sites will have 12.8 megawatts of electrical capacity, making this the largest community solar project in the National Capital Area and one of the largest in the nation. Source: Metro

Maxeon Solar Technologies, a wholly owned subsidiary of SunPower announced a proposed offering of $175,000,000 aggregate principal amount of its green convertible senior notes due 2025 in a private offering to qualified institutional buyers. Maxeon also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional $26,250,000 principal amount of notes. Source: Maxeon

Nautilus Solar expands Maryland presence with acquisition of 15.1 MW community solar portfolio from SGC Power: Nautilus Solar Energy, a community solar owner and operator, acquired a 15.1 MW community solar development portfolio from SGC Power. The six projects are part of a larger 32.8 MW portfolio of Nautilus community solar facilities located throughout the state. A portion of the power is allocated specifically to qualifying Low-to-Moderate Income families. Source: Nautilus Solar

Energy Toolbase, a software platform providing solar + storage modeling, energy storage system control, and asset monitoring products, has integrated Delta, a global leader in power and thermal management solutions onto its sales and modeling software platform. Delta’s energy storage solution includes a power conditioning system, which is a bi-directional inverter scalable up to 500 kW, and a grid-tied energy storage system scalable up to 2,000 kWh capacity. Energy Toolbase is backed by its parent company, Pason Systems. Source: Energy Tool Base