SAN JOSE, Calif., July 7, 2016 /PRNewswire/ --SunPower Corp. (Nasdaq: SPWR) announced today that it was selected to provide 39.1 megawatts of solar photovoltaic technology under the French government's tender for supplying the country's ZNI (non-interconnected zones) with renewable energy and storage. SunPower secured 27 out of the total of 33 awards, or 76 percent, under the tender program. As part of its award, SunPower developed and will design and build five solar power installations in Corsica and the French West Indies, which will include battery storage technology.
"SunPower applauds the French government for promoting solar power development in the ZNI, and its forward-thinking approach to integrating battery storage with these projects to provide a more resilient, reliable and sustainable utility grid infrastructure," said SunPower Executive Vice President Eduardo Medina. "With experience deploying more than six gigawatts of solar technology around the world, SunPower is committed to working with our customers to deliver the most innovative, high performance solutions to maximize long-term energy output, cost-effectively and sustainably."
SunPower was selected to supply 20.7 megawatts of its high efficiency solar panels, the world's first and only direct current solar panels to achieve the Cradle to Cradle Certified™ Silver designation for sustainable practices used in manufacturing. In addition, the company will design and build five development projects, totaling 18.4 megawatts of solar with battery storage. All of the projects are expected to be operational by mid-year 2019.
In Corsica, SunPower will build two solar power plants of approximately five megawatts each, and one 1.5-megawatt rooftop solar power system. All three projects, totaling 11.3 megawatts, are being developed in partnership with Corsica Sole.
SunPower will build two solar power plant projects on disturbed lands in the French West Indies, including a four-megawatt system at a refinery in Martinique and a three-megawatt system at a quarry in Guadeloupe.
SunPower, an affiliate of Total (CAC: TOTF.PA), operates facilities in De Vernejoul and Toulouse, France, where it sustainably manufactures high efficiency solar panels for the European market and beyond. The company has more than 2.5 gigawatts of solar power plants operating or under contract around the world.
As one of the world's most innovative and sustainable energy companies, SunPower (Nasdaq: SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expected project timelines and projected energy output. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: challenges inherent in constructing and maintaining certain of our large projects, and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.
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