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SunPower Names Navneet Govil Vice President, Treasurer
International Finance Veteran Brings More Than 14 Years of Experience with Large, Multinational Corporations
SAN JOSE, Calif.

SAN JOSE, Calif., Jun. 8, 2009  /PRNewswire/ -- SunPower Corporation (NASDAQ: SPWRA)(NASDAQ: SPWRB), a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, today announced that international finance veteran, Navneet Govil, has joined the company as its vice president and treasurer.

In this strategic role, Govil will lead SunPower's treasury and foreign exchange activities, credit risk management, capital structure planning, and banking relationships. He will also be responsible for planning and directing insurance activities as well as stock administration.

"Navneet brings to SunPower a wealth of experience managing finance and foreign exchange activities for multinational companies," said Dennis Arriola, SunPower's senior vice president and CFO. "His expertise and understanding of the financial markets and his strong analytical background will be invaluable as we continue to grow our business worldwide. We welcome Navneet to the SunPower team."

Prior to joining SunPower, Govil served in several capacities during his eight year tenure at Sun Microsystems, most recently as controller for its Microelectronics Group. He also served as assistant treasurer responsible for capital markets, cash management and stock plan administration, and had responsibility for foreign exchange and risk management activities. Previously, Govil worked in the international treasury group at Hewlett-Packard, where he managed and hedged global foreign currency balance sheet exposures of more than $40 billion annually. Govil also held finance positions at Pfizer and Fortistar Capital.

Govil earned a master's degree in business administration and a master's degree in engineering from Cornell University. He was awarded a merit-based Knight Fellowship, engineering fellowship and a teaching assistantship also from Cornell. Govil also holds a bachelor of science degree from the University of Rochester. He has received numerous recognition and industry awards.

About SunPower

Founded in 1985, SunPower Corporation (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.

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. The company uses words and phrases such as "continue" and "grow" to identify forward-looking statements in this press release, including forward-looking statements regarding the company continuing to grow its business worldwide. 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) the company's ability to obtain and maintain an adequate supply of raw materials and components, as well as the price it pays for such; (ii) general business and economic conditions, including seasonality of the industry; (iii) growth trends in the solar power industry; (iv) the continuation of governmental and related economic incentives promoting the use of solar power; (v) the improved availability of third-party financing arrangements for the company's customers; (vi) construction difficulties or potential delays, including permitting and transmission access and upgrades; (vii) the company's ability to ramp new production lines and realize expected manufacturing efficiencies; (viii) manufacturing difficulties that could arise; (ix) the success of the company's ongoing research and development efforts to compete with other companies and competing technologies; and (x) other risks described in the company's Quarterly Report on Form 10-Q for the quarter ended March 29, 2009, 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.

SUNPOWER and the SUNPOWER logo are trademarks or registered trademarks of SunPower Corporation. All rights reserved. All other trademarks are the property of their respective owners.

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SOURCE: SunPower Corporation

Web Site: http://www.sunpowercorp.com/