SunPower in Advanced Talks on Sale of Commercial Business (1)

SunPower Corp. is in advanced discussions to sell its commercial- and industrial-solutions business as it pivots toward expanding its residential and light-commercial operations.

The solar and power-storage company said earlier this year that it was exploring strategic options for its CIS business so the unit could better focus on community solar and front-of-meter storage. The company is seeking to finalize discussions as early as the first quarter of 2022, according to a news release Tuesday morning.

Jeffrey Osborne, an analyst at Cowen & Co., estimated the unit could sell for between $100 million and $200 million.

Raymond James & ...