SunPower, a solar technology, services, and installation company, completed the acquisition of Ambia Solar, a solar panel installation company based in Lindon, Utah.
Both companies previously signed a non-binding letter of intent (LoI) on November 11 for $37.5 million in equity, and the transaction was closed subject to customary closing conditions. This acquisition is expected to strengthen SunPower’s position as one of the top five residential solar providers in the U.S., according to Ohm Analytics rankings.
SunPower CEO T.J. Rodgers said, “Due to our quick closing of the acquisition, we are raising our Q4’25 quarterly revenue estimate to $88 million. We still expect record operating income in Q4’25 and at least $2.0 million in operating income in Q1’26, the winter solar “down” quarter. In addition, and equally important, the acquisition brings to us Ambia’s operations management team, with its best-in-class performance, to reinforce our SunPower Direct Business Unit (aka Blue Raven). We expect that the Ambia acquisition will transform SunPower’s operational capability as effectively as the Sunder acquisition has already transformed our sales performance. We also expect to onboard Ambia’s 203-rep salesforce, raising SunPower’s total salesforce to 2,027 reps.”
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, in 9M 2025, 76 solar M&A transactions were executed compared to 62 in 9M 2024. The largest transaction was by ONGC NTPC Green, which signed a share purchase agreement to acquire a 100% equity stake in the Indian utility-scale renewable energy platform, Ayana Renewable Power, for $2.3 billion.
In September, the company also closed a strategic acquisition of Sunder Energy, a residential solar sales company. SunPower, formerly Complete Solaria, went through Chapter 11 bankruptcy last year, during which Complete Solar acquired its assets, rebranded under the SunPower name, and retained the SPWR stock ticker.
