SunPower acquires U.S. residential solar provider Blue Raven Solar—for USD $165 million

California — SunPower announced it acquired Blue Raven Solar.

“More than 100 million homeowners could save money by switching to solar today, and we are committed to enabling that transition quickly to benefit both customers and the planet,” said Peter Faricy, CEO of SunPower. “SunPower and Blue Raven share a vision of powering the world with affordable, resilient, sustainable energy. This acquisition will enable us to bring the most powerful and efficient solar technology available to a new set of homeowners and accelerate our growth strategy.”

The acquisition was made for cash consideration of up to $165 million. Blue Raven CEO Ben Peterson will join SunPower’s executive team, and the company expects to build upon Blue Raven’s current employee and contractor relationships.

“We’ve always been focused on making it easy for customers to get access to high-quality renewable energy. SunPower offers the most advanced solar solutions and shares our passion for delivering an incredible customer experience,” said Peterson. “Together we will provide even more compelling reasons for homeowners to make the switch to clean, renewable energy. This is a clear win for our organizations and for homeowners everywhere we operate.”