SANTA CLARA, Calif. — SPI Energy Co. announced SolarJuice American Inc., a wholly owned subsidiary of SPI, acquired the consumer contracts of PetersenDean Inc., one of the largest full-service, privately-held roofing and solar companies in the United States.
PetersenDean was generating $300 million to $400 million in sales annually with favorable profit margins prior to COVID-19.
“Our acquisition of these consumer contracts could save thousands of U.S. jobs that were in jeopardy following PetersenDean’s Chapter 11 filing in June 2020. This is also a major win for us as we work to accelerate our penetration in the vast U.S. markets and create better renewable products and services for American residential customers,” said Xiaofeng Peng, chairman and CEO of SPI Energy.
Founded in 1984, PetersenDean was one of the nation’s largest independently owned solar and roofing companies that specialized in new residential construction. At its peak, the company employed nearly 3,000 solar and roofing employees in nine states: Arizona, California, Colorado, Florida, Hawaii, Louisiana, Nevada, Oklahoma and Texas.
SPI is a global renewable energy company and provider of photovoltaic and electric vehicle solutions for business, residential, government, logistics and utility customers and investors. The U.S. installed 3.8 gigawatts of solar photovoltaic capacity in the third quarter of 2020 to reach 88.9 gigawatts of total installed capacity, enough to power 16.4 million American homes. In total, the U.S. solar market will install more than 107 gigawatts of solar over the next five years.