SAN JOSE, Calif., Sept 22, 2010 /PRNewswire via COMTEX News Network/ -- SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced that the company has been selected to design, build, operate, and maintain the 10-megawatt Dover SUN Park, in Dover, Del. for White Oak Solar Energy, L.P., a wholly owned subsidiary of LS Power Group. The solar park, which is expected to be operational next summer, will deliver emission-free solar power to the regional utility grid operated by the city of Dover.
SunPower will install SunPower(R) Tracker(R) systems at the 103-acre site, with SunPower E19 solar panels, the most efficient solar panels on the market today. The Tracker follows the sun's movement during the day, increasing sunlight capture by up to 25 percent over conventional fixed-tilt systems, while significantly reducing land use requirements.
"SunPower sun-tracking technology is fast to install and reliably delivers clean power during peak demand periods, making solar a competitively-priced choice for power plant applications," said Steve Vavrik, managing director at SunPower. "Forward-thinking organizations such as LS Power and their local partners are maximizing their long-term production of clean, renewable solar power with SunPower's high-efficiency, high-performance power plants."
White Oak is selling the energy and environmental attributes from the Dover SUN Park through long-term agreements with the City of Dover, Delmarva Power and Light, Delaware Municipal Electric Corporation and the Delaware Sustainable Energy Utility.
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. The company uses words and phrases such as "expected" to identify forward-looking statements in this press release, including forward-looking statements regarding the expected commencement of operation of the Dover SUN Park. 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 site; and (v) other risks described in the company's Annual Report on Form 10-K for the year ended January 3, 2010 and Quarterly Report on Form 10-Q for the quarter ended July 4, 2010, 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(R) is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.
SOURCE SunPower Corp.
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