SunPower, the Silicon Valley-based solar manufacturer, said Thursday that it will buy Solar Solutions, a solar systems integrator based in Faenza, Italy. Solar Solutions is a division of Combigas, a petroleum products trading firm. No word on the amount of the purchase of the company and its 14-person team, which has been active since 2002.
SunPower said the acquisition is expected close in the first quarter of 2008 and will add to its adjusted earnings for the full-year period. At a recent cleantech event in San Francisco, SunPower CEO Tom Werner stressed the importance of having a vertical channel to bring the cost down of the entire process of manufacturing, distribution and installation of solar systems. SunPower also purchased solar installer PowerLight.