After announcing Helix, SunPower Corporation (NASDAQ:SPWR) noted a major progress in the market, representing one of the leading stocks during yesterday’s trading session on November 26th.
SunPower Corporation (NASDAQ:SPWR) marked an extraordinary movement on November 26th, being one of the top trading stocks in the market and reaching the price of 7.07$.
What is even more interesting that SPWR stocks are still rising, also having the company announcing Helix, the latest solar project in Massachusetts less than two weeks ago.
Helix is a product from the agreement made with Cabot Corporation, allowing SunPower Corporation to install the mentioned solar project.
As SPWR stocks are rising in the market, currently going up 0.57%, the corporation is confirming their latest project with Cabot Corporation in Massachusetts.
SunPower Corporation (SPWR) One of the Top Trading Stocks on November 26th
As announced in the press release that came out on November 14th, the agreement between SunPower Corporation and Cabot Corporation was concluded.
Within the first and initial announcement, more details on the agreement followed up several days later, describing the latest solar project that should be constructed in Billerica, Massachusetts.
The project is set to start with the construction somewhere in summer 2019, where a 1.12-megawatt solar project will be installed.
The name of the project is Helix and it should be paired with 940-kilowatt hours of energy system integrated at Cabot’s Business and Technology Center.
The idea of the project is to encourage the increased production of solar energy in the state of Massachusetts, so the Massachusetts Department of Energy resources is involved as well.
In addition, the solar project that should be installed by SunPower Corporation (NASDAQ:SPWR) will gain support from Solar Massachusetts Renewable Target Program, also known as SMART.
It seems that the proactive solar company that SunPower represents is driving the price of the company’s stocks in the market which led the value from 6.0$ to 7.07$ in a day.
The company is able to meet the growing demand for solar energy, also embracing expansion on various markets, including Malta, England, Greece, Israel, and France, also drawing interest in Chile and Mexico, which adds to the value of SPWR stock as a consequence.