SAN JOSE, Calif., Dec 01, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --
SunPower Corporation (Nasdaq: SPWRA, SPWRB), a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, today announced it has signed a customer contract with German solar power plant integrator City Solar Kraftwerke AG.
Over the next three years, SunPower will provide City Solar with solar panels and commercial rooftop and ground mounted systems. This includes at least 100 megawatts of SunPower's high-efficiency solar panels, the SunPower(R) T10 Solar Roof Tile for commercial rooftop installations, and the SunPower(R) T0 Tracker and SunPower(R) T20 Tracker for utility-scale, ground mounted systems.
"Solar continues to grow in Germany and throughout Europe, and demand for SunPower products remains strong," said Howard Wenger, SunPower's president, global business units. "We welcome City Solar as a new partner to deliver SunPower's high-efficiency solar panels and tracking systems to commercial and power plant customers."
City Solar Kraftwerke AG is one of the leading producers of large scale photovoltaic plants. Since 2003, the company has designed and built turn-key solar power plants at both the ground level and on rooftops.
"With this deal, we can offer our commercial customers SunPower's high-efficiency solar panels and patented rooftop and ground mounted tracking systems, which can significantly increase their energy output," said Steffen Kammler, City Solar president and CEO. "We are very pleased and excited to grow our global business using SunPower's proven technology."
The SunPower T10 Solar Roof Tiles are non-roof penetrating and tilt at a 10-degree angle to increase energy capture. The SunPower Tracker is a single axis design that enables solar panels to automatically track the sun's movement throughout the day, increasing sunlight capture by up to 25 percent. The SunPower T20 Tracker minimizes tracking expense relative to solar power plant capacity factor by increasing sunlight capture by up to 30 percent over conventional fixed-tilt systems.
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.
About City Solar
Since its foundation in 2003, City Solar Kraftwerke AG emerged as one of the leading European developer and turnkey provider of large-scale photovoltaic power plants. From the initiation of solar projects, the acquisition of suitable sites to the point of maintenance and technical management City Solar covers the whole process by focusing on superior technology. Reliable and cost-effective management turns the City Solar plants with a total performance of 81 MWp into economic and ecologic investments throughout their lifetime. For a better life, environment and future, we additionally support children in need by our foundation "Sunshine for kids." For more information please visit http://www.citysolar.de.
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 "will," "continues," "remains," "can," "grow," 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) SunPower providing City Solar with at least 100 megawatts of solar panels and commercial and ground mounted systems; (b) solar market continuing to grow in Germany and throughout Europe; (c) demand for SunPower products remaining strong; (d) City Solar offering SunPower's products, significantly increasing their energy output; and (e) City Solar growing its global business. 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) SunPower's ability to obtain a adequate supply of polysilicon, ingots and wafers to manufacture its products and the price it pays for such materials; (ii) business and economic conditions and growth trends in the solar power industry; (iii) the continuation of governmental and related economic incentives promoting the use of solar power; (iv) the continued availability of third-party financing arrangements for companies' customers; (v) unforeseen manufacturing equipment delays at SunPower's fabrication facilities and panel factories; (vi) production difficulties that could arise; (vii) the companies' ability to compete with other companies and competing technologies; (xiii) the potential renegotiation of or non-performance by parties to companies' supply and customer contracts; (ix) the price and availability of third-party cells and solar panels; and (x) 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
http://www.sunpowercorp.com
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