8point3 Energy Partners LP (NASDAQ:CAFD) Files An 8-K Entry into a Material Definitive Agreement

8point3 Energy Partners LP (NASDAQ:CAFD) Files An 8-K Entry into a Material Definitive Agreement

Story continues below

Item 1.01Entry into a Material Definitive Agreement.

Amendment and Waiver to ROFO Agreement

On February 13, 2017, 8point3 Operating Company, LLC (OpCo), a
wholly-owned subsidiary of 8point3 Energy Partners LP (the
Partnership), entered into the Second Amendment and Waiver to
Right of First Offer Agreement (the Waiver) with SunPower
Corporation (SunPower). to the Right of First Offer Agreement,
dated as of June 24, 2015, as amended, between OpCo and SunPower
(the ROFO Agreement), SunPower previously granted to OpCo a right
of first offer to purchase certain solar energy generating
facilities for a period of five years. Such solar projects
included the 100 MW El Pelicano solar generation project in Chile
(El Pelicano). to the Waiver, OpCo waived its rights under the
ROFO Agreement with respect to El Pelicano. The Waiver also
contains customary representations, warranties and agreements of
OpCo and SunPower.

The terms of the Waiver were approved by the board of directors
(the Board) of 8point3 General Partner, LLC, the general partner
of the Partnership, and by the conflicts committee of the Board,
which consists entirely of independent directors (the Conflicts
Committee). The Conflicts Committee consulted independent legal
counsel in evaluating the Waiver.

The foregoing description is not complete and is qualified in its
entirety by reference to the full text of the Waiver, which is
filed as Exhibit 10.1 to this Current Report on Form 8-K and
incorporated herein by reference.

Item 9.01Financial Statements and Exhibits.

(d) Exhibits.

Number

Description

10.1

Second Amendment and Waiver to the Right of First Offer
Agreement dated February 13, 2017, by and between 8point3
Operating Company, LLC and SunPower Corporation.


About 8point3 Energy Partners LP (NASDAQ:CAFD)

8Point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of July 31, 2016, the Company owned a 28.2% limited liability company interest in 8point3 Operating Company, LLC (OpCo). As of July 31, 2016, the Company’s portfolio consisted of interests in 530 megawatts (MW) of solar energy projects. As of July 31, 2016, the Company owned interests in eight utility-scale solar energy projects, all of which are operational. As of July 31, 2016, its assets represented 88% of the generating capacity of its portfolio. As of July 31, 2016, the Company owned interests in four commercial and industrial (C&I) solar energy projects, two of which were operational and two of which were in late-stage construction, and a portfolio of residential distributed solar generation (DG Solar) assets, which represent 12% of the generating capacity of the Company’s portfolio. Its portfolio is located entirely in the United States and consists of utility-scale and C&I assets.

8point3 Energy Partners LP (NASDAQ:CAFD) Recent Trading Information

8point3 Energy Partners LP (NASDAQ:CAFD) closed its last trading session down -0.13 at 13.47 with 201,155 shares trading hands.

An ad to help with our costs