SunPower has made a minority investment in Wolf River Electric, one of the largest residential solar providers in Minnesota.
This investment is intended to help Wolf River expand its business in Minnesota, Iowa, and Wisconsin and increase solar adoption in these areas, thereby enabling the companies to serve more customers in the market.
Following this investment, Wolf River will become SunPower’s third largest dealer, selling SunPower solar, SunVault battery storage, EV charging equipment, and financial products exclusively for the next five years.
The dealer’s volume in the three states presents a significant net-new geographic coverage opportunity for SunPower to accelerate solar adoption in the Midwest.
Wolf River plans to use the investment to establish a dedicated warehouse and expand its sales and installation teams to rapidly grow and serve more homeowners.
SunPower’s Vice President of Corporate Development, Shawn Fitzgerald, stated that their dealer accelerator program has been successful in identifying high-growth companies that, with additional investment, can increase the speed at which they sell, finance, and install solar energy systems nationwide.