Complete Solaria, Inc. has announced that it has secured a highly sought-after ‘Stalking Horse’ position in the SunPower Chapter 11 bankruptcy. As the stalking horse bidder, Complete Solaria will have the advantage of setting the initial bid and negotiating the Asset Purchase Agreement (APA) with the SunPower team.
Under the third-generation plan outlined in the APA, Complete Solaria will merge with two other prominent solar companies, Blue Raven and Core Energies, to form a new company. This collaboration will bring together the top employees from these three companies, creating a cost-competitive solar powerhouse in Salt Lake’s ‘Solar Valley,’ which is home to over 20 solar companies.
The plan also includes a reduction in headcount from 2587 to 1273, while still retaining the key Silicon Valley brain trust. This strategic move aims to streamline operations and enhance efficiency.
T.J. Rodgers, CEO of Complete Solaria, expressed his commitment to the company, stating, ‘I became CEO of Complete Solaria for arguably humanitarian reasons. Now, I’m hooked on Complete Solaria. My solar world has technological components intriguingly combined with bare-knuckle, cash-flow, live-or-die economics. I’m in.’
Complete Solaria is a leading solar technology, services, and installation company that offers a unique end-to-end customer offering. Their digital platform, together with premium solar products, provides customers with a one-stop service for their clean energy needs.
For more information about Complete Solaria, visit their website at www.completesolaria.com and follow them on LinkedIn.