SunPower Corporation Announces Supply Agreement with Systems Integrator Kubokura for T5 Solar Roof Tile
SAN JOSE, Calif., Dec. 3, 2012 /PRNewswire/ -- SunPower Corporation (NASDAQ: SPWR) today announced that systems integrator Kubokura Densetsu Co. Ltd. has signed a supply agreement for its T5 Solar Roof Tile. Kubokura will install the T5 Solar Roof Tile on four leased rooftops in the Kanagawa Prefecture. Utilizing the country's new feed-in-tariff, Kubokura will sell the electricity generated by the 540-kilowatt solar systems back to the grid through the local utility. The clean energy generated will be enough to serve more than 180 homes.
Tilted at a five-degree angle, the T5 Solar Roof Tile is the industry's first all-in-one, non-penetrating photovoltaic rooftop product that combines solar panel, frame and mounting system into a single pre-engineered unit. The T5 Solar Roof Tile interlocks for wind resistance and secure installation; its patented design is adaptable to virtually any flat or low-slope rooftop. Integrated into the T5 Solar Roof Tile is the high efficiency E20 / 327 Solar Panel by SunPower Corporation.
"We are well positioned in the Japanese market with our high-efficiency technology, and with our first T5 Solar Roof Tile supply agreement, we'll increase our share of the rapidly-expanding commercial rooftop segment," said Tom Werner, SunPower Corporation president and CEO. "Kubokura and the utility will benefit from SunPower's leading technology, more than a quarter century of experience and our commitment to guaranteed performance."
"We chose the T5 Solar Roof Tile system because it gave us maximum installed capacity on limited rooftop space," said Satoshi Kubokura, senior managing director. "With 20 percent efficiency solar panels integrated into the all-in-one system, coupled with a non-penetrating installation that does not require anchoring the system to the roof, the T5 Solar Roof Tile is easy to install and minimizes waterproofing and structural risks on the rooftop surface."
Kubokura will begin system construction at the end of this year and expects completion next February.
SunPower Corporation will feature its T5 Solar Roof Tile at PV Japan, being held in Chiba on December 5 through 7, in booth P09-802.
About SunPower Corporation
SunPower Corporation. (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpowercorp.com.
SunPower Corporation Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. SunPower uses words and phrases such as "agreement," "well positioned," "will," and similar expressions to identify forward-looking statements in this press release, including forward-looking statements regarding being well positioned in the Japanese market and increasing share in Japan. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) general business and economic conditions, and the growth in the Japanese market for SunPower products; (ii) the continuation of governmental and related economic incentives promoting the use of solar power; (iii) manufacturing difficulties; (iv) Japanese customers' continued business relationship with SunPower; and (v) other risks described in the company's Annual Report on Form 10-K for the year ended January 1, 2012 and Quarterly Reports on Form 10-Q for the quarters ended April 1, 2012, July 1, 2012 and September 30, 2012 and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE SunPower Corp.