SunPower (SPWR) closed its $12M all-equity strategic acquisition of Cobalt Power Systems headquartered in Mountain View, California. Cobalt will continue to operate as a standalone subsidiary company with common financial, HR and administrative practices, focused on big premium renewable energy systems, across residential, new home, multifamily, and commercial projects, such as the recently announced installation by Cobalt using the new SunPower Monolith panel on the Fortinet building in Sunnyvale, California.
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