Caduceus Software Systems to Bolster Shareholder Equity Value as High Priority

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8Point3 Energy Partners LP (NASDAQ: CAFD ) announced on Friday it has entered into an agreement to acquire an interest in the 50 megawatt Hooper Project from SunPower Corporation (NASDAQ: SPWR ) and the 40 MW Kingbird Project from First Solar, Inc. (NASDAQ: FSLR ). 8Point3 Energy is the joint venture formed by both SunPower and First Solar. Related Link: Raymond James: SolarCity, 8Point3 Still Our Top Solar Picks 8Point3 Energy stated that the drop-down acquisitions will generate approximately $9 million in combined annual pre-tax cash flow with an expected 20-year average contract life. Despite the announcement, shares of 8Point3 Energy were trading nearly flat on the day at $14.50. Were pleased to announce our second and third drop-down transactions today, said Charles Chuck Boynton, CEO of 8point3 Energy Partners. These acquisitions continue our long-term strategy of adding high quality solar projects with investment grade off-takers to our portfolio. Image Credit: Public Domain See more from Benzinga U.S. Solar Stocks Gain On Favorable WTO Ruling Solar Stocks Are Getting Killed By SolarCitys Whiff © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
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