SAN JOSE, Calif., July 28, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- SunPower Corporation (Nasdaq: SPWR), a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, today is joining Sun Light & Power and non-profit organizations Solar Richmond, Solar Living Institute and Rising Sun Energy Center to dedicate a 2-kilowatt SunPower solar system on the rooftop of EcoVillage Farm Learning Center in Richmond, Calif. SunPower provided financial support for the project and joins with partner organizations to celebrate green collar job training for local youth.
With a grant from the Bay Area Air Quality Management District, Solar Living Institute, in collaboration with Solar Richmond and Rising Sun Energy Center, provided training to 18 students on the basics of solar electricity and installation. Sun Light & Power then installed the SunPower solar array at EcoVillage, with assistance from the new trainees.
"SunPower is pleased to provide financial support for the solar array that will benefit the EcoVillage Farm Learning Center's sustainability goals, while providing an educational tool for its visitors," said Bobby Ram, director of global community relations for SunPower Corp. "We are delighted to be a part of this dedication and embrace the organization's training program that enables local youth to learn new skills that can offer career opportunities in the future."
EcoVillage Farm Learning Center, which promotes environmental conservation, restoration, and growing a socially just community, is located on 5.6 acres of uniquely preserved, semi-rural farm land. The farm will benefit from the solar array with an immediate 85 percent reduction on its energy bill, and receive a new element in its farming operations that will reinforce sustainability principles to thousands of local visitors.
Shyaam Shabaka, founder and executive director of EcoVillage Farm, added: "The SunPower system provides us with critical financial savings, allowing us to expand our operations and enhance our programs."
"We are confident that our trainees will use this hands-on solar knowledge as they develop their careers," said Michele McGeoy, executive director of Solar Richmond. "We commend SunPower for its commitment to the community and for the environmental leadership they continue to demonstrate through support of this project."
About SunPower Corp.
SunPower Corporation (Nasdaq: SPWR) 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 and Asia. For more information, visit http://www.sunpowercorp.com. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).
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 company uses words and phrases such as "will," and similar expressions to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, the company's plans and expectations regarding an immediate 85% reduction in the farm's energy bill. These forward-looking statements are based on information available to the company 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 company's 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; and (iv) other risks described in the company's Quarterly Report on Form 10-Q for the quarter ended March 30, 2008, 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 is a registered trademark of SunPower Corp. Cypress is a registered trademark of Cypress Semiconductor Corp. All other trademarks are the property of their respective owners.
SOURCE SunPower Corporation
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