Jones Day Reps SunPower In $1.2B AUO Joint Venture

Law360, New York (May 27, 2010, 1:01 PM EDT) -- Solar energy systems maker SunPower Corp. revealed plans Thursday to forge a $1.2 billion joint venture with Taiwanese thin film transistor liquid crystal display products manufacturer AU Optronics Corp. to build a 1.4-gigawatt solar cell power plant in Malaysia.

SunPower and AUO will equally own the venture — which will own and operate the facility, known as Fab 3 — with each contributing approximately $350 million of equity and procuring debt financing, San Jose, Calif.-based SunPower said.

The deal is expected to slash SunPower's capital expense...
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