Thursday, February 11, 2010

SunPower Buys SunRay Renewable Energy For $277M

San Jose-based SunPower, a manufacturer of solar power equipment, said Thursday that it is buying European solar power plant developer SunRay Renewable Energy. The deal is worth $277M, including $235M in cash plus $42M in a letter of credit and promissory notes. J.P. Morgan Securities is advising SunPower in the deal.