MILAN, Oct 20, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced that construction began this month on a 1-megawatt solar electric power plant in Mesagne, Comune di Brindisi, Italy. SunPower designed and is building the plant, which is owned by Bluenergia S.r.l. The project is being financed through a leasing agreement with Banca Monte dei Paschi di Siena, and is expected to be completed early next year.
Across 2.6 hectares, SunPower is installing the proprietary SunPower(R) T20 Tracker technology, which follows the sun during the day and delivers up to 30 percent more energy than fixed-tilt systems.
This is the first power plant in Italy to use the T20 Tracker. SunPower has installed its T0 Tracker technology at other Italian power plant projects, including the 5-megawatt Api Nova plant and the 24-megawatt Montalto plant. The T20 differs from the T0 in that it sits entirely above the ground, requiring no drilling, and can deliver up to 7 percent more energy than the lower profile T0.
"We are pleased to partner with Bluenergia to deliver clean, reliable solar power in Italy," said Luca Bandini, general manager of SunPower Italia. "The SunPower T20 Tracker follows the movement of the sun during the day, increasing sunlight capture by up to 30 percent over conventional fixed-tilt systems, while significantly reducing land use requirements. The Tracker sits above the ground, eliminating the need for ground penetration and reducing construction time and environmental impacts."
"SunPower's unrivaled expertise and experience in the design and construction of solar power plants, as well as the company's superior technology, were the primary reasons we chose SunPower as our partner for this important project," said Mario Rossi, president of Bluenergia. "This project firmly establishes utility scale solar power plants in Puglia and will be an important source of clean, renewable and reliable power."
Bluenergia and SunPower have plans to begin construction on an additional 1-megawatt solar power system using T20 technology in Copertino (Lecce), Puglia region, later this year.
SunPower has installed more than 550 megawatts of large-scale solar power systems globally, including more than 200 megawatts of power plants in Europe.
Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, 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.
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. SunPower uses words and phrases such as "expected" and "plans" to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) the construction schedule; and (b) plans for construction of another solar power system. Such forward-looking statements are based on information available to SunPower as of the date of this release and involve a number of risks and uncertainties, some beyond its 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 site; and (v) other risks described in SunPower's Annual Report on Form 10-K for the year ended December 28, 2008, its Quarterly Report on Form 10-Q for the quarter ended June 28, 2009, 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.
SOURCE SunPower Corp.
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