Bankrupt Solar Firm SunPower Gets Nod to Sell Assets to Rival

SunPower Corp. got approval to sell its assets to rival Complete Solaria Inc. on Thursday, after declining demand and rising inflation pushed the California solar firm into bankruptcy in August.

US Bankruptcy Judge Craig Goldblatt said he’d approve a $45 million stalking-horse bid for a chunk of SunPower’s assets, including the company’s direct-to-consumer unit Blue Raven and some dealer networks. The deal means that if no higher offers come in at an auction to be held in the coming weeks, Complete Solaria will get the assets.

The fall of SunPower, a company that serviced more than half a million American ...