Sunpower Says Acquisition Of 10% Equity Interest In Changshu Suyuan Thermal Power

Dec 4 (Reuters) - Sunpower Group Ltd (SUNP.SI) :* ACQUISITION OF 10% EQUITY INTEREST IN CHANGSHU SUYUAN THERMAL POWER FOR RMB16.78 MILLION Further company coverage: (SUNP.SI)

Sunpower Group subsidiaries to acquire stakes in two China thermal energy projects

Sunpower Group is acquiring stakes in two Chinese thermal energy projects. Its subsidiary, Sunpower International Holding, will acquire a 15% interest in Jining Xinneng Thermal Power for 30.2 million yuan. Another subsidiary, Jiangsu Sunpower Clean Energy, will acquire the remaining 10% stake in Changshu Suyuan Thermal Power for 16.8 million yuan. These investments enhance ties with Jining Group and allow for future collaborations. Both projects are expected to be funded through internal resources. Sunpower's shares closed at S$0.525, down 0.9%.

Sunpower Group subsidiary to acquire 15% stake in Jining Xinneng Thermal Power for 30.2 million yuan

Sunpower International Holding (Singapore), a subsidiary of Sunpower Group, is acquiring a 15% stake in Jining Xinneng Thermal Power for 30.2 million yuan. Xinneng Thermal Power, owned by Jining Energy Development Group, supplies steam to Jining New Material Industrial Park and will provide residential heating and electricity. The investment aims to enhance Sunpower's green portfolio and create synergies with Jining Group. The acquisition is funded through internal resources, with Sunpower shares closing at S$0.525, down 0.9%.

SunPower shares are trading higher. The company reported preliminary Q3 revenue results.

Solar tech firm SunPower beats Q3 revenue estimates, operating income hits record

SunPower reported Q3 2025 revenue of $70 million, surpassing analyst expectations, with a record non-GAAP operating income of $3.12 million. The acquisition of Sunder Energy is expected to enhance future bookings. For Q4 2025, SunPower anticipates revenue of $83.3 million and operating income of $3.56 million, projecting 2025 revenue at $303 million. The average analyst rating is "buy," with a median 12-month price target of $5.40, reflecting a potential 67.6% increase from its recent closing price of $1.75.