US-Based Solar Panel Maker SunPower Raises $1 Billion Financing

A U.S.-based solar panel maker, SunPower Corp., has announced a strategic partnership of $1 billion (~₹74.97 billion) with Technology Credit Union (Tech CU), one of the leading credit unions in California.
The new partnership is expected to increase financing options for U.S. residential solar customers and give SunPower the much-needed access to capital for its loan program. The partnership is expected to reduce SunPower’s operating costs through low per watt financing fees. It is also expected to streamline the loan application and contract signing process for the customers. The platform will give the customers the freedom to compare cash, lease, or loan acquisition options all at the same time.

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