SunPower Corporation (SPWR) Acquires Greenbotics

Posted Nov 4, 2013

SunPower Corporation (NASDAQ:SPWR) has acquired Greenbotics.  Based in Davis, California, Greenbotics offers solar panel cleaning products and services for large-scale solar power plants.  SunPower will be expanding into the energy services portfolio for global customers with the SunPower Oasis Power Plant product.  This will be especially useful in places that have dirt and dust environments.

“SunPower’s acquisition of Greenbotics and its CleanFleet robots will allow us to further maximize the proven system performance of our high efficiency, most reliable solar panels, which is critical to a project’s economics and levelized cost of electricity,” stated Tom Werner, SunPower president and CEO. “Customers in markets such as the Western U.S., the Middle East and Chile will especially benefit, as dust and debris is a challenge and water is in shorter supply. We are very pleased to add the valuable services offered by Greenbotics to our energy services offerings.”

Greenbotics is known for optimizing the performance of solar power plants through a cost-effective cleaning process.  Over the last couple of years, Greenbotics has used their proprietary CleanFleet robots and service offerings to wash hundreds of megawatts of systems in the Southwest and Western United States.  The robots can be configured for use with various solar panels and mounting types, including fixed-tilt arrays and single-axis trackers and offer a less costly way to manually clean the solar power plants than pressure washers and sprayer trucks.

The transaction was in cash and is accretive to SunPower’s results.