SunPower to buy Italian solar integrator

San Jose, Calif.-based solar cell maker SunPower (Nasdaq: SPWR) said today it signed a deal to acquire Faenza, Italy's Solar Solutions.

Solar Solutions is the solar integration unit of Italy's Combigas, a petroleum products trading firm.

"Solar Solutions has been a SunPower customer since 2006," said Marco Northland, general manager of SunPower's European Operations.

"We believe that this acquisition will provide an important platform for SunPower to address both the solar power plant and rooftop markets in Italy."

Solar Solutions distributes components such as solar panels and inverters, and offers turnkey solar power systems and standard system kits.

Luca Bandini, CEO of Solar Solutions, said "We plan to expand our footprint in the residential and small commercial sector through a professionally organized dealer network, and to directly serve as a turnkey contractor to the expanding power plant market and large commercial applications."

SunPower, a majority-owned subsidiary of Cypress Semiconductor (NYSE: CY), said the acquisition is expected close in the first quarter of 2008.