SunPower leaders say they will be restructuring and selling off some of the company to Complete Solaria out of Fremont.
SunPower, the solar power giant originally based out of San Jose, has filed for Chapter 11 bankruptcy.SunPower, the solar power giant originally based out of San Jose, has filed for Chapter 11 bankruptcy. This comes just over a month after laying off more than 350 of its California employees.to Complete Solaria out of Fremont.
"They were one of the early manufacturers of premium solar panels, they made some of the best solar panels in the business," said Dustin Mulvaney, a professor of environmental studies at San Jose State University."As solar panels got cheaper and cheaper, it just became harder and harder for premium solar panel manufacturers that were using a little bit older technology to compete with up and rising stars from China, really," Mulvaney said.
"I think the state has actually caused harm to an industry which it essentially helped to start," said Dan Kammen, UC Berkeley professor of energy.Red Lobster files for bankruptcy | What's next for the largest seafood restaurant chain in the world "In light of the challenges SunPower has faced, the proposed transaction offers a significant opportunity for key parts of our business to continue our legacy under new ownership," Tom Werner, executive chairman at SunPower said.
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