SAN JOSE, Calif. and SANTA CLARA, Calif., Oct 03, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Agilent Technologies Inc. (NYSE: A) and SunPower Corporation (Nasdaq: SPWRA, SPWRB), a manufacturer of high-efficiency solar cells, solar panels and solar systems, will dedicate a 1-megawatt solar tracking system today at Agilent's Santa Rosa, Calif., campus.
The system features a three-acre parking lot canopy structure with nearly 3,500 SunPower solar panels that track the sun throughout the day, providing shade and solar electric power for Agilent's facility. The design of SunPower's tracking solar system will generate up to 25 percent more energy for Agilent than a similarly sized flat, rooftop system. As a result, Agilent's solar parking canopy is the largest solar energy generator in Sonoma County.
"Agilent's commitment to be a responsible corporate citizen includes taking steps to protect the environment," said Ron Nersesian, vice president of Agilent's Wireless Business Unit and general manager of the company's Santa Rosa facility. "We work continuously to reduce the environmental impact of our operations, suppliers, products and services, and this new solar power system is a great complement to our existing sustainability programs."
Agilent owns the renewable energy credits and all environmental attributes associated with the system. GE Energy Financial Services owns the system, which SunPower designed and built and is operating. Agilent will purchase the generated electricity from GE Energy Financial Services under the SunPower Access(TM) power purchase agreement program.
"Converting an underutilized asset such as a parking area into a distributed power plant is a great example of how forward-thinking companies like Agilent and GE Energy Financial Services are taking advantage of today's solar technology," said Tom Werner, chief executive officer of SunPower. "The power purchase agreement provides Agilent with immediate savings and a long- term hedge against rising peak power prices."
Using SunPower solar panels, the highest-efficiency panels on the market today, the system is expected to displace more than 90 million pounds of carbon dioxide over the next 30 years. This is equivalent to the emissions from approximately 7,500 cars.
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 www.sunpowercorp.com.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is the world's premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company's 20,000 employees serve customers in more than 110 countries. Agilent had net revenues of $5.4 billion in fiscal 2007.
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 "rising," "is expected," 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) peak power prices rising; and (b) the system displacing more than 90 million pounds of carbon dioxide over the next 30 years, equivalent to the emissions from approximately 7,500 cars. 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) unexpected changes in utility service rates; (iv) variations in carbon dioxide emissions reductions; and (v) other risks described in SunPower'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 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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