Renewable Energy Resources to the Local Community
CARY, N.C., Jun 24, 2008 (BUSINESS WIRE) -- SAS, the leader in business intelligence and analytics software, working with Progress Energy Carolinas (NYSE: PGN) and SunPower Corp. (Nasdaq: SPWR), will develop a solar electric power farm on the company's Cary, NC, headquarters campus. Scheduled to go online in late 2008, the project is the latest in the company's continuing sustainability efforts to conserve environmental resources.
"I'm fortunate to participate in global business forums with some of the world's finest corporate and government leaders. Without fail, the environment ranks among their top concerns. Additionally, our employees and customers expect us to be responsible corporate citizens. This solar farm is one small gesture among many green initiatives within SAS to diminish the impact on our environment," said SAS CEO Jim Goodnight. "Future generations depend on us to do the right thing today."
Covering five acres, the 1-megawatt photovoltaic (PV) solar array will feature SunPower(R) Tracker solar tracking systems. 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. SAS' solar farm is estimated to generate 1.7 million kilowatt-hours (kWh) per year, reducing carbon dioxide emissions by over 1,600 tons annually. This is equivalent to the carbon dioxide emissions from the consumption of more than 167,000 gallons of gasoline.
"This project is a perfect example of the kind of innovation and leadership our state needs to expand the important role of renewable energy," said Lloyd M. Yates, President and CEO of Progress Energy Carolinas. "Progress Energy is moving forward aggressively and cost-effectively on renewable and alternative energy projects as part of a balanced strategy for meeting the needs of our growing region. We're proud to be part of this milestone. Our hope is that this project, and the partnership and collaboration it represents, will be a model and catalyst for many more like it."
The North Carolina Solar Center at North Carolina State University collaborated with SAS on the initial feasibility study and will continue to help identify best practices and share information as the project progresses.
Under North Carolina's Renewable Energy and Energy Efficiency Portfolio Standard (REPS) utility companies must obtain up to 12.5 percent of their energy through renewable resources or energy efficiency measures by 2021. They must also begin including solar-generated energy by 2010. SAS' solar array, which will be one of the largest of its kind in the southeastern US, is the largest PV project announced in Progress Energy's service area since North Carolina's energy law took effect in 2007. SunPower will build the solar array; Progress Energy will purchase the Renewable Energy Certificates (RECs) and electricity generated by the solar farm for use on the public energy grid.
"By using high-efficiency SunPower solar technology, SAS and Progress Energy are maximizing both their financial returns and the environmental benefits of this installation," said Tom Werner, Chief Executive Officer of SunPower. "They are demonstrating leadership in the region by addressing local energy needs with clean, renewable solar power."
About Progress Energy
Progress Energy (NYSE: PGN), headquartered in Raleigh, N.C., is a Fortune 250 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues. The company, which will celebrate a century of service in 2008, includes two major utilities that serve 3.1 million customers in the Carolinas and Florida. Progress Energy is the 2006 recipient of the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence. The company also is the first utility to receive the prestigious J.D. Power and Associates Founder's Award for customer service. Progress Energy serves two growing areas of the country, and the company is pursuing a balanced approach to meeting the future energy needs of the region. That balance includes increased energy efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. For more information about Progress Energy, visit the company's Web site at www.progress-energy.com.
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 www.sunpowercorp.com. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).
SAS is the leader in business intelligence and analytical software and services. Customers at more than 44,000 sites use SAS(R) software to improve performance through insight from data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products and processes. Only SAS offers leading data integration, storage, analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world THE POWER TO KNOW(R). www.sas.com
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. (R) indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright (C) 2008 SAS Institute Inc. All rights reserved.
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 "to review," "to go," "estimated," "will," and "hope," and similar expressions to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, SunPower's plans and expectations regarding: (a) SunPower installing a SunPower Tracker tracking system; (b) the system generating 1.7 million kilowatt hours per year; (c) the system reducing annual carbon dioxide emissions by over 1,600 tons every year, equivalent to consumption of over 167,000 gallons of gasoline; (d) the project being a model and catalyst for many more like it; and (e) the project completing the solar power installation by the end of 2008. These forward-looking statements are based on information available to SunPower 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 SunPower's control. In particular, risks and uncertainties that could cause actual results to differ include (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; (v) the actual energy consumption rate; (vi) the actual energy generation; ; (vii) variations in carbon dioxide emissions reductions; and (viii) other risks described in SunPower'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 SunPower's views as of any subsequent date, and SunPower 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.
SAS Dave Thomas, 919-531-1447 Dave.Thomas@sas.com www.sas.com/presscenter or Progress Energy Carolinas Mike Hughes, 919-546-7274 Mike.Hughes@pgnmail.com www.progress-energy.com or SunPower Corp. Ingrid Ekstrom, 510-260-8368 Ingrid.Ekstrom@sunpowercorp.com www.sunpowercorp.com
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