SunPower Corp. has invested in Diamond Energy Pty. Ltd., a privately owned alternative energy project developer and clean electricity retailer headquartered in Melbourne, Australia.
According to SunPower, aligning with Diamond Energy will allow SunPower to offer more comprehensive and customizable clean energy solutions for customers in Australia. The partnership creates a one-stop shop for consumers by providing solar electric systems, grid-source renewable energy and retail services such as metering, billing and management of exported electricity to the grid.Â
SunPower has acquired a minority stake of approximately 42% in Diamond Energy and, under terms of the agreement, has an option to increase its ownership percentage over time. SunPower will also assume a seat on the company's board of directors.