SAN JOSE and SANTA CLARA, Calif., Sept 28, 2007 /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, and Agilent Technologies (NYSE: A) Inc. today announced that SunPower's System division will install a 1-megawatt solar tracking system at Agilent's Santa Rosa, Calif., campus. SunPower solar panels are being installed on top of a canopy structure in the campus parking lot, providing both shade in the lot and solar electric power for the facility.
SunPower's tracking solar system design will generate up to 25 percent more energy for Agilent than a similarly sized flat, roof-top system. As a result, Agilent's solar parking canopy will be the largest solar power generator in Sonoma County.
"As the world's premier measurement company, Agilent recognizes the path to a sustainable future includes protecting the environment and being a responsible corporate citizen," said Ron Nersesian, vice president of Agilent's Wireless Business Unit and general manager of the company's Santa Rosa facility. "We are working to reduce the impact of our operations, suppliers, products and services on the environment, and generating our own clean, renewable solar power is a step in the right direction to accomplish those important goals."
SunPower will install its SunPower Tracker, which follows the sun's movement throughout the day. Using SunPower solar panels, the highest efficiency panels on the market today, the system is expected to generate an estimated 1.8 million kilowatt-hours per year, offsetting more than 33 million pounds of carbon dioxide over the next 30 years. This is equivalent to planting more than 4,700 acres of trees or removing 3,300 cars from California's roadways.
Agilent will purchase solar-generated electricity for a period of 20 years under the SunPower Access program, a financing option that allows customers to purchase solar power under a highly flexible power-purchase contract as an alternative to outright system purchase. At the end of the term, Agilent will have the option to renew the agreement, transfer the equipment to a new site, or buy the system.
"Forward-thinking companies like Agilent are turning to solar power because it supports their environmental initiatives and makes good business sense," said Tom Werner, chief executive officer of SunPower. "We're very pleased to offer Agilent the highest efficiency solar technology on the market today to maximize both their environmental and financial savings."
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).
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 19,000 employees serve customers in more than 110 countries. Agilent had net revenue of $5.0 billion in fiscal 2006. Information about Agilent is available on the Web at http://www.agilent.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts. We use words such as "will," "expect," and similar expressions to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, our plans and expectations regarding power generation and offset carbon dioxide emissions. Such statements are based on our current expectations as of the date of the release, which could change or not materialize as expected. Actual results may differ materially due to a variety of uncertainties and risk factors, including but not limited to risks described our Quarterly Report on Form 10-Q for the quarter ended July 1, 2007, and other filings with the Securities and Exchange Commission. You should also carefully review reports that we file with the Securities and Exchange Commission, including without limitation such Form 10-Q. Except as required by law, we assume no obligation to update any such forward-looking statements.
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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