SunPower and Invest North Partner to Build Australia's Largest Roof-Mounted Solar System
305-Kilowatt System at Crowne Plaza Hotel in Alice Springs Expected to Provide 40 to 80 Percent of Hotel's Power Requirements
BELMONT, Western Australia, Oct. 1, 2008 /PRNewswire/ -- SunPower Corporation (Nasdaq: SPWRA, SPWRB), a manufacturer of high-efficiency, solar cells, solar panels, and solar systems, today announced it has signed an agreement to build a 305-kilowatt SunPower solar power system atop the roof of the Crowne Plaza Hotel in Alice Springs, Northern Territory. Invest North Pty Ltd. is the owner of the project. When completed, the system will be the largest roof-mounted solar power system in Australia.
"We are proud that Invest North chose SunPower's high-efficiency solar panels to help power its flagship hotel in Australia," said Bob Blakiston, managing director of SunPower Australia. "This installation will be a testament to the growing adoption of solar energy on commercial and public buildings. The Crowne Plaza Hotel's solar electric system is expected to provide between 40 and 80 percent of the hotel's power requirements, depending on the time of year."
The Department of the Environment, Water, Heritage and Arts (DEWHA) is providing financial backing for this project, as part of Australia's $94 million Solar Cities Program.
"Through the support of the Rudd Labor government, projects such as this set a clear standard for what is expected of Australian companies when reducing their environmental impact," added Blakiston.
SunPower entered the emerging Australian solar market earlier this year, with the acquisition of Solar Sales Pty Ltd. Solar Sales had partnered with SunPower for several years prior as a leading systems integrator and product distribution organization.
About SunPower SunPower Corporation (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers high-performance solar electric systems worldwide for residential, commercial and utility-scale power plant customers. SunPower high-efficiency solar cells and solar panels generate up to 50 percent more power than conventional solar technologies and have a uniquely attractive, all-black appearance. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia, and Asia. For more information, visit http://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, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements that do not represent historical facts. The company uses words and phrases such as "to build," "expected," "will," "growing," "help," and similar expressions to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, the company's plans and expectations regarding: (a) SunPower and Invest North Partner building a 305-kw solar power system; (b) the system being the largest roof-mounted solar power system in Australia; © adoption of solar energy on commercial and public buildings growing; (d) the system providing between 40 and 80 percent of the hotel's power requirements. These forward-looking statements are based on information available to the company as of the date of this release and management's current expectations, forecasts and assumptions, and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks and uncertainties include a variety of factors, some of which are beyond the company's control. In particular, risks and uncertainties that could cause actual results to differ include: (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; (v) actual electricity generation, (vi) the actual energy consumption rate; (vii) unexpected changes in utility service rates; and (viii) other risks described in the company's Quarterly Report on Form 10-Q for the quarter ended June 29, 2008, 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 is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.
Contacts: Ingrid Ekstrom SunPower Corporation iekstrom@sunpowercorp.com +1-415-531-2250 Craig Badings Savage & Partners. An Ogilvy Financial Company 02 8281 3244