Capital Dynamics to acquire SunPower, First Solar JV for $977 million

(Reuters) - Asset manager Capital Dynamics said on Monday it would acquire a joint venture company of solar power developers First Solar Inc (NASDAQ: FSLR) and SunPower Corp (NASDAQ: SPWR) for about $976.6 million.

The joint venture, 8point3 Energy Partners LP (NASDAQ: CAFD), owns and operates solar energy generation projects in the United States.

The deal, which has an enterprise value of about $1.7 billion, is expected to close in the second or the third quarter of fiscal 2018.

(Reporting by Taenaz Shakir in Bengaluru; Editing by Anil D'Silva)

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