SunPower Names Kapil Rai EVP as New Homes Division Aims $100M Pipeline
SunPower promoted Kapil Rai to EVP of its New Homes division, overseeing Multifamily and Light Commercial segments and partnerships with builders, installers and financiers. The company expects this division to double in size in 2026 with a project pipeline exceeding $100 million by year-end after the Cobalt Power acquisition.
1. Executive Appointment
SunPower appointed Kapil Rai as EVP of its New Homes division, giving him oversight of Multifamily and Light Commercial segments. Rai brings over 20 years of global P&L leadership from semiconductor firms including Future Electronics and Microchip Technology.
2. Growth Projections and Pipeline
The company expects the New Homes division to double its revenue in 2026 and build a project pipeline exceeding $100 million by year-end. These targets follow a reorganization effort aimed at restoring customer relationships lost after the 2024 bankruptcy.
3. Cobalt Power Acquisition Impact
Rai spearheaded the acquisition of Cobalt Power—the leading solar provider in Silicon Valley—to reinforce execution capabilities and expand project capacity. Integration of Cobalt’s operations underpins SunPower’s goal of enhancing quality standards and accelerating market penetration.