SunPower and Naturener Partner on 9-Megawatt Spanish Solar Power Plant

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Jun 08, 2010, 03:05 ET

MADRID, June 8 /PRNewswire-FirstCall/ -- SunPower Corp. (Nasdaq: SPWRA, SPWRB) announced today that it is building a 9.1-megawatt (AC) solar power plant in Alange, Badajoz, Spain for the Naturener Group. This will be the fifth solar power plant that SunPower has designed and constructed for Naturener Group to date, and one of the largest to be commissioned in Spain this year. SunPower will also provide operations and maintenance services under the agreement with Naturener.

"We are pleased to work with SunPower again and continue our development of renewable energy in the Spanish market," said Rafael Sanchez-Castillo, CEO of Naturener Group. "SunPower's turnkey services will ensure that the plant is operational by the end of the year, and their technology will maximize production of clean, renewable solar power for many years to come."

At the 38-hectare site, SunPower will install its SunPower™ T0 Tracker technology, which requires only half the land area to produce the same amount of energy as conventional dual-axis trackers. The Tracker systems position solar panels to follow the sun during the day, delivering up to 25 percent more energy than fixed-tilt systems. Due to sophisticated backtracking algorithms, the system avoids panel shading while increasing energy production. In addition, a smart grid system will enable the solar plant and Naturener's nearby hydraulic power plant to share a utility grid connection.

On the Trackers, SunPower will mount the company's standard-efficiency Serengeti solar panels, which offer the same high quality, reliable energy delivery and 25-year warranty as SunPower's high-efficiency panel offerings.

Construction on the plant will start this month and is expected to employ over 150 people locally.

"Naturener is a leader in renewable energy development, and SunPower's long-standing partnership with them is a clear testament to our ability to consistently deliver the highest quality power plants quickly and cost efficiently," said SunPower Vice President Gian Maria Ferrero. "With 225 megawatts of solar power plants operating today in Europe, SunPower has the experience and technology to ensure investors get the most value out of their solar assets."

SunPower has more than 550 megawatts of solar systems installed or under contract. Previously for Naturener in Spain, SunPower designed and constructed solar power plants totaling 29 megawatts, located in the Castilla-La Mancha and Extremadura regions.

About SunPower

Celebrating its 25th anniversary today, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.

About Naturener Group

Naturener Group is a pure player in the generation of renewable energy. It has hydro, wind and solar photovoltaic assets in Spain and North America through its subsidiaries NATURENER USA and NATURENER CANADA. The company is headquartered in Madrid, Spain, with U.S. offices in San Francisco, Calif., and Canadian offices in Calgary, Alberta.

SunPower's Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. This press release uses words and phrases such as "can," "will," and "expected" to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) construction schedule; (b) future operations and maintenance services; (c) energy production; and (d) local employment. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (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 sites; (v) actual electricity generation; and (vi) other risks described in the company's Annual Report on Form 10-K for the year ended January 3, 2010, 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.

SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.

SOURCE SunPower Corp.