SunPower Malaysia Manufacturing not affected by Nasdaq-listed SunPower's downfall



KUALA LUMPUR: Melaka-based SunPower Malaysia Manufacturing Sdn Bhd will not be affected by Nasdaq-listed SunPower Corp's downfall given that it was hived off to Singapore's Maxeon Solar Technologies four years ago.


Though the name remained the same, SunPower Malaysia is now fully owned by Maxeon Solar Technologies after a strategic spin-off separated SunPower and Maxeon into two independent public companies in August 2020.


Maxeon, a Nasdaq-listed company, operates panel and cell manufacturing facilities located in France, Malaysia, Mexico and the Philippines.

Following the spin-off, SunPower Corp focused on its growth as a distributed generation storage and energy services provider in North America, while SunPower entities outside the US are operated by Maxeon, including the RM8 billion solar factory in Melaka.

According to SunPower's exclusive dealer in Malaysia Solarah Sdn Bhd's website, SunPower has a AUO SunPower factory in Melaka, Malaysia.


It is a 1.4 gigawatt solar cell manufacturing plant), employing 6,400 workers and producing over one million solar wafers per day.

In its filing with the US Securities Exchange Commission on Tuesday, SunPower said it filed for Chapter 11 bankruptcy protection in the United States and agreed to sell some of its business to Complete Solaria for US$45 million cash.

The major shareholders of the Nasdaq-listed company includes France's TotalEnergies, BlackRock Advisors and Vanguard Fiduciary Trust Co.

According to SunPower, assets and liabilities worth US$1 billion to US$10 billion were listed in its Chapter 11 petition in the US Bankruptcy Court for the District of Delaware.

It also agreed to sell assets including its Blue Raven Solar installation unit and new home businesses to Complete Solaria as a stalking horse buyer for US$45 million.

A stalking horse buyer refers to an initial bid on a bankrupt company's assets from an interested buyer, chosen by the bankrupt company.

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Kesian, even with the clean energy push and ESG, still fail

This post has been edited by killdavid: Aug 8 2024, 07:46 AM

Luckily never work here

Solar is not working too? So we are back to square one? Burning fossil fuels for next 20 years and hamkaling together?

Not exactly la, china killed of competition as their gov aggressively subsidies. US strawberries can't compete

aikz... ayamz thought Agenda ESG is the right way to go??...
topkekk... how can bankrupt...

there are so many solar company in this world, 1 relatively small one went busted and the whole industry is a scam?? not working???
how much idiotic a person can get?

Anyone knows the fate of the giant solar company in kulim ? First solar issit? Still doing well ?

Competitive market, cannot fight with China in term of price.

Now wait for Infineon to shutdown then whole Melaka will sink

solar system price still yahoodee
why no dropping
owaii

Chinese company also cannot compete against their own country company. Good all die together, planned economy win.

Years ago went there for interview when it's just setting up. But saw a couple of ex colleagues who worked there, 1 of whom, a crazy engineer interviewed me. I never went back.

in malaysia only
look at how malaysian still condemn EV until today u already know

Many China owned solar panels factories in ASEAN r facing difficulties cos US is imposing tariffs on their products n their cost is higher than same company in China.

I guess it is play by west
Last month jinko solar close factory coz business down
Now this
The sanctions to these companies from us take tolls

so Q-Cell cyberjaya will share the same fate as well?

what's going on with malaysia's electronic industries nowadays?

i thought RM is going stonk? USD drop?

You should go, as it is very lucrative. This is the place that propels my salary to 5 figure after just few years of working. They will give you any amount u demand; and they stop this shit once taken over by auo

Eh, ada je local solar...knp harga masih tak murah?

but Jingko a Chinese based Solar Panel manufacturer in Penang also closed down few weeks ago ..

Got firesale for solar panel in the market? Bangkrupt will clear inventory to recoup some cash