SAN JOSE, Calif., May 23, 2017 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) has broken ground on a 28-megawatt solar photovoltaic system at Vandenberg Air Force Base near Lompoc, California, a project expected to create about 150 jobs at peak of construction. Upon operation, it's anticipated to be the largest behind-the-meter solar power system in the Air Force where 100 percent of the energy generated will be consumed onsite.
"A solar project that is grid-connected to the Base enables us to meet our electric demand with renewable energy and increase our energy security," said Ken Domako, Chief, Portfolio Optimization, Vandenberg Air Force Base. "We look forward to increasing the Air Force's energy independence with competitively priced, dependable solar from SunPower."
The SunPower® solar power system will be installed on land that has gone unused since 2007, just outside the gates of Vandenberg where Air Force housing once stood. The Base will purchase energy generated by the plant under a power purchase agreement (PPA), providing Vandenberg with competitive, fixed electricity rates over the next 25 years. The Air Force will retain all environmental credits associated with the system.
"The Air Force has an aggressive target to meet that requires full energy assurance for key missions," said Dan Gerdes, Air Force Civil Engineer Center rates and renewables division chief. "By diversifying our energy mix at Vandenberg to include SunPower's high efficiency solar technology, we're confident we'll have the electrons we need, when we need them, creating long-term value for our operations."
Once complete, the system will provide a projected 54,500 megawatt hours of energy annually, meeting about 35 percent of Vandenberg's total energy needs. It will also contribute to the entire Air Force's goal of meeting 25 percent of its electricity demand with renewables.
"SunPower is pleased to offer a cost- competitive renewable energy solution to the U.S. Air Force, which will provide increasing economic and environmental value to the Vandenberg Air Force Base for 25 years," said Nam Nguyen, SunPower executive vice president. "We congratulate the Air Force for its commitment to renewable energy, and are proud to help the Air Force achieve its sustainability goals with SunPower's innovative solar solutions."
As a trusted solar advisor to military agencies, SunPower has designed and installed solar power systems at dozens of federal government facilities. Most notable projects include a 13.2-megawatt and a 15-megawatt installation at Nellis Air Force Base in Nevada – operating since 2007 and 2016 respectively – as well as a 13.78-megawatt installation at NAWS China Lake in California – operating since 2012.
For more information on how solar can benefit government entities, visit SunPower at booth 2006 during this week's 2017 Joint Engineer Training Conference and Expo in Columbus, Ohio. Learn about SunPower's experience helping federal agencies go solar by visiting www.sunpower.com/government.
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, and 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, relative generating capacity, and projected job creation. 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: regulatory changes and the availability of economic incentives promoting use of solar energy, 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 report on Form 10-K, 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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