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SunPower Halts New Leases and PPAs, Lays Off 1,000 Employees Amid Cost-Cutting Measures and Industry Challenges.

US solar company SunPower (NASDAQ:SPWR) has reportedly ceased services within its offering, including new lease and power purchase agreement (PPA) sales, shipments and project installations of these financing options, as of July 17. The move is part of SunPower’s efforts to reduce costs and simplify its business model in response to industry headwinds. The company has also announced plans to lay off about 1,000 employees and close certain direct sales divisions. SunPower is exploring alternative providers to transfer sold projects and plans to provide more details soon.

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