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Monday, Nov 4
SunPower acquires module cleaning robot developer
- SunPower (SPWR +10.3%) has acquired Greenbiotics, a provider of robot-powered cleaning services for solar modules used in utility-scale projects. The all-cash deal is expected to be accretive SunPower's earnings.
- SunPower notes Greenbiotics' robots have been used to "wash hundreds of megawatts of systems in the Southwest and Western U.S.," and claims the robots are less costly and use 90% less water than traditional cleaning methods.
- Greenbiotics' offerings will be integrated with SunPower's Oasis Power Plant solution (meant for utility-scale projects), as is expected to be used with other products/services. SunPower expects customers in dry/dusty environments such as the Western U.S., the Middle East, and Chile to benefit.
- SunPower's system-level sales totaled $341M in Q3, or 52% of revenue. The company is in the middle of ramping construction for a 579MW project sold to MidAmerican Energy.