SunPower did not receive subpoena in federal solar grant probe
LOS ANGELES (Reuters) - SunPower Corp (SPWR.O) did not receive a subpoena from the Treasury Department's inspector general in connection with its probe of a popular solar incentive, the company said.
"While we do not typically comment on legal proceedings, given our significant stake in the leasing market, we want to make it clear that SunPower has not received a request to provide information to the Inspector General relevant to our leasing program," SunPower spokeswoman Ingrid Ekstrom said in an email on Tuesday.
Late last week, U.S. solar installer SolarCity said in a U.S. Securities and Exchange Commission filing that the Treasury's internal watchdog is looking at how the department managed a program that allowed rooftop solar projects to turn tax credits into cash grants. The inspector general is searching for "possible "misrepresentations" about the fair market value of solar systems that received federal cash grants, SolarCity said, adding that the inspector general issued subpoenas to SolarCity and other big players in the market.
SunPower is majority-owned by France's Total SA (TOTF.PA).
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