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.