SunPower Stock Is Rising After Hours: What's Going On?

SunPower Corp SPWR shares are rising in extended trading Wednesday after the company announced more than $450 million in financing commitments. 

What Happened: SunPower said it secured financing commitments exceeding $450 million for its residential solar and storage loan program from Hannon Armstrong Sustainable Infrastructure Capital Inc HASI.

"Among our leading value propositions is full consumer choice when it comes to how our customers purchase our solar and storage systems. We continue to build and strengthen our suite of world-class financing products to meet growing demand," said Guthrie Dundas, interim CFO of SunPower.

In 2021, SunPower launched SunPower Financial to help improve the ease of switching to solar. SunPower has since offered a solution for purchasing solar and other home energy services through a single provider.

Read Next: Why Harley-Davidson Stock Is Sliding After Hours 

SPWR Price Action: SunPower shares were up 3.14% after hours at $13.48 at the time of publication, according to Benzinga Pro.

Photo: Leopictures from Pixabay.