SunPower invests in Diamond Energy

SunPower Corp has announced its investment in Diamond Energy, a privately owned alternative energy project developer and clean energy retailer based in Melbourne. SunPower says aligning with Diamond Energy will allow it to offer more comprehensive and customisable clean energy solutions for its Australian customers.

According to SunPower, the alignment will “create a one-stop shop for consumers, providing high efficiency solar electric systems, grid-source renewable energy and retail services such as metering, billing and management of exported electricity to the grid”.

SunPower acquired a 42% stake in Diamond Energy, with the option to increase its ownership percentage over time. SunPower will also have a seat on the company’s board of directors.

“SunPower is taking a step closer to its customers by investing in an electricity retailer like Diamond Energy,” said Tom Werner, President and CEO of SunPower. “More customers will see solar as a cost-effective way to meet growing energy demands, especially as the price of conventional grid power increases in Australia.

“Through this partnership, SunPower and Diamond Energy are poised to deliver affordable, renewable electricity services that cover everything from the generator to the household electricity meter. We look forward to this new venture and expect it to serve as a model for SunPower’s continuing evolution into a complete energy solutions provider,” Werner said.

The two companies also aim to grow development of commercial and utility solar power projects in Australia, leveraging SunPower’s experience delivering more than 1000 megawatts of cost-competitive, large-scale solar power systems worldwide.

SunPower deployed the Uterne solar power plant in Alice Springs and counts Crowne Plaza Hotel, Perth Zoo, the Central Institute of Technology and Midland Redevelopment Authority among its commercial-scale solar power system clients.