MILAN, May. 6, 2010 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWRA)(NASDAQ: SPWRB), a manufacturer of high-efficiency solar cells, solar panels and solar systems, announced today that it is building a 1.3-megawatt solar power plant in the Lazio region of Italy for Solar Green Energy-SGE, a joint venture between EDF-EN Italia, a subsidiary of EDF Energies Nouvelles, and Emmecidue, an Italian project developer.
At the 4.7 hectare site in Ferentino, Frosinone province, SunPower will install its 96-cell, E 18 / 305 solar panels with an efficiency of 18 percent or higher, on SunPower T0 Tracker systems. The Tracker follows the sun during the day and delivers up to 25 percent more energy than fixed-tilt systems, requiring only half the land area to produce the same amount of energy as conventional dual-axis trackers. The plant is expected to be operational by the end of the year.
"SunPower's solar power plant experience in Italy and worldwide, as well as the company's high efficiency technology, gives us confidence that this system will be well built in a timely manner, and will maximize the clean, renewable solar power that is delivered to the community, including to the nearby Nestle ice-cream factory," said Bruno D'Onghia, president of EDF EN Italia and Solar Green Energy-SGE.
"We are extremely pleased to partner with EDF Energies Nouvelles, one of the leading renewable players worldwide, for the construction of this project. Customers rely on SunPower, with more than 225 megawatts of SunPower solar power plants operating today in Europe, and our solid track record of building highly efficient power plants quickly and cost effectively, to achieve the highest return on their investment over time," said Gian Maria Ferrero, vice president and general manager, utility and power plants for the EMEA.
EDF-EN Italia uses high-efficiency SunPower E 18 series solar panels at 6.5 megawatts of solar power plants currently operating in Italy, and is installing an additional 2.8 megawatts of SunPower technology for plants under construction.
SunPower has more than 550 megawatts of large solar power systems installed or under contract globally, including Italy's largest solar power plant, the 24-megawatt plant in Montalto di Castro. SunPower recently finalized the acquisition of SunRay Renewable Energy, a leading European solar power plant developer with a principle project office in Rome. With the acquisition, SunPower expanded its pipeline of solar power plant projects to more than 1,200 megawatts in Italy, France, Israel, Spain, the United Kingdom and Greece.
About EDF Energies Nouvelles
EDF Energies Nouvelles S.A. is a market leader in green electricity production, with operations in Europe and North America. Its development is focused on wind and solar photovoltaic, but the group is also present in other segments of the renewable energy market. The company, 50 percent owned by the EDF Group, is listed in Euronext Paris (code "EEN", ISIN code: FR0010400143). In Italy, EDF Energies Nouvelles is active in wind and solar photovoltaic energy through its subsidiary EDF-EN Italia.
Founded in 1985, SunPower Corp. (NASDAQ: SPWRA)(NASDAQ: SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.
SunPower's 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. This press release uses words and phrases such as "will," and "expected" to identify forward-looking statements in this press release, including forward-looking statements regarding the construction and expected schedule. 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) construction difficulties or potential delays in the project implementation process; (ii) unanticipated delays or difficulties securing necessary permits, licenses or other governmental approvals; (iii) the risk of continuation of supply of products and components from suppliers; (iv) unanticipated problems with deploying the system on the sites; and (v) other risks described in the company's Annual Report on Form 10-K for the year ended January 3, 2010, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing SunPower's views as of any subsequent date, and SunPower 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.
SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.
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