SunPower To Sell Commercial & Industrial Solutions Business

SunPower Corp. announced that it has decided to pursue the sale of its Commercial & Industrial Solutions (CIS) solar business, and said that it is in advanced discussions regarding a potential sale of its CIS business

"As part of its growing focus on and investment in its Residential and Light Commercial business, earlier this year the company announced it was exploring strategic options for its Commercial & Industrial Solutions (CIS), which serves public and private sectors. Following this review, SunPower has decided to pursue the sale of the CIS business. This decision was made to optimize SunPower's capital deployment, while enabling CIS to take better advantage of its growing addressable opportunities such as community solar and front-of-meter storage. SunPower is in advanced discussions regarding a potential sale of its CIS business," SunPower said

"The company is seeking to finalize discussions as early as the first quarter of 2022, focusing primarily on residential in 2022 and beyond," SunPower said

The CIS business includes large-scale solar and storage projects

SunPower Corp. also announced the appointment of consumer marketing veteran June Sauvaget as the company's chief marketing officer (CMO).

Sauvaget previously served as global head of consumer & product marketing for Spotify. Prior to Spotify, Sauvaget held positions at Shiseido and Gap.