Hillsboro-based SolarWorld sold to California rival

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A local solar panel manufacturing company has been bought out by a California rival.

SolarWorld, the nation’s leading manufacturer of solar panels, is based in Hillsboro. The company sold its facility Wednesday to SunPower.

SunPower says it plans to ramp up operations at SolarWorld to capitalize on strong U.S. demand.

The company says it also plans to invest in factory improvements, increase working capital and retrofit a portion of the facility to produce P-Series solar panels.

The purchase price has not been announced.

Oregon Sen. Ron Wyden said in a statement Wednesday that he is cautiously hopeful that sale will be good news for Hillsboro and all of Washington County.

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