SunPower Reaches Financing Deal With Morgan Stanley

SunPower Corp announced that Morgan Stanley has agreed to provide the company with up to $190 million in financing for future commercial and public agency solar electric power installations.

The financing will be available for installations that SunPower delivers to customers under its SunPower Access program through 2008. The program will allow companies and public agencies to purchase solar-generated electricity as an alternative to purchasing the solar power systems themselves.

“This financing arrangement represents a significant commitment to the solar power sector by Morgan Stanley,” said Aaron Lubowitz, managing director in Morgan Stanley’s Global Structured Products Group in New York.
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