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Castle & Cooke and SunPower Dedicate Hawai'i's Largest Solar Power System
Lana'i's 1.2-Megawatt La Ola Solar Farm to Supply 30 Percent of Island's Peak Electricity Demand

LANA'I CITY, Hawai'i, Jan 06, 2009 /PRNewswire-FirstCall via COMTEX News Network/ --

Castle & Cooke Hawai'i and SunPower Corporation (Nasdaq: SPWRA, SPWRB), a manufacturer of high-efficiency solar cells, solar panels and solar systems, are dedicating today the 1.2-megawatt La Ola Solar Farm on Lana'i in Hawai'i. La Ola, which is translated from Hawaiian as "sun that gives life," is located on a 10-acre site in south Lana'i and is expected to produce enough clean, renewable solar power to supply up to 30 percent of the island's peak electric demand.

The system is expected to generate about 3 million kilowatt hours of electricity per year. The power is being purchased by Maui Electric Company (MECO), and transmitted to Lana'i's homes and businesses through MECO's electric power grid. This will help reduce more than 2300 tons of carbon dioxide emissions in Lana'i each year, which is approximately the same amount of carbon dioxide emitted from the consumption of almost 5000 barrels of oil or more than 237,000 gallons of gasoline.

"Castle & Cooke is committed to helping the state of Hawai'i achieve energy independence. With the dedication of Hawai'i's largest solar farm, we are delivering on our commitment by bringing clean solar energy to the people of Lana'i," stated David H. Murdock, chairman and owner of Castle & Cooke, Inc. "This state-of-the-art solar farm helps pave the way for Hawai'i to become a leader in the production of renewable energy. La Ola is just the first step of Castle & Cooke's plans for renewable, sustainable energy."

At the La Ola site, SunPower installed a single-axis SunPower(R) Tracker system. The Tracker tilts toward the sun as it moves across the sky, increasing energy capture by up to 25 percent over fixed systems while reducing land-use requirements.

"Clean, reliable solar power will become a core energy investment over the next decade, driven in large part by visionary leaders such as Castle & Cooke, MECO and the State of Hawai'i," said Tom Werner, chief executive officer of SunPower. "Having installed the first commercially-financed solar power system in the US on the Big Island of Hawaii in 1998, followed by more than six megawatts of solar power systems across the Hawaiian islands since that time, we are pleased to dedicate this very significant project on the island of Lana'i."

About Castle & Cooke

Castle & Cooke, Inc. and its affiliated companies have operations in more than 24 states. The company's diversified businesses include the development and ownership of real estate, resorts, aviation, and renewable energy facilities, leasing of transportation equipment, manufacture of brick and building materials, and ownership of public warehouses. The company's real estate developments include master planned communities such as Mililani Town on the island of O'ahu, Lake Sherwood in Thousand Oaks, Calif., Seven Oaks in Bakersfield, Calif., and Keene's Pointe in Orlando, Fla.

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 companies use words and phrases such as "is expected," "will," and similar expressions to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, the companies' plans and expectations regarding: (a) the system generating enough clean, renewable solar power to supply up to 30 percent of Lana'i's peak electric demand; (b) the system generating 3 million kilowatt hours of power per year and reducing more than 2300 tons of greenhouse gas emissions per year; and (c) clean, reliable solar power becoming a core energy investment over the next decade. These forward-looking statements are based on information available to the companies 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 companies' control. In particular, risks and uncertainties that could cause actual results to differ include: (i) actual electricity generation; (ii) the actual energy consumption rate; (iii) variations in carbon dioxide emissions reductions; and (v) other risks described in SunPower's Quarterly Report on Form 10-Q for the quarter ended September 28, 2008, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the companies' views as of any subsequent date, and the companies are under no obligation to, and expressly disclaim any responsibility to, update or alter their 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 Corporation



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