SunPower Announces Industry's First Modular Solution for Deploying Utility-Scale Solar Power Plants

Fully Integrated SunPower Oasis Power Plant Streamlines Installation Process

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May 11, 2010, 08:00 ET

SAN JOSE, Calif., May 11 /PRNewswire-FirstCall/ -- SunPower Corporation (Nasdaq: SPWRA, SPWRB), a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, today announced its new SunPower Oasis™ Power Plant (SunPower Oasis), the industry's first modular solar power block that scales from 1-megawatt ac (MW) distributed installations to large central station power plants. SunPower Oasis provides a fully integrated, cost-effective way to rapidly deploy utility-scale solar, streamlining the development and construction process.

SunPower Oasis is engineered from the ground up to optimize use of available land. Each power block integrates the SunPower® T0 Tracker with SunPower's high-efficiency, 400-watt utility solar panel, pre-manufactured system cabling, the Oasis smart inverter, and the Oasis operating system. SunPower Oasis also features the SunPower advanced Tracker Monitoring and Control System (TMAC™) for wireless control of the power plant. The power block kits are shipped pre-assembled to the job site for rapid field installation, and offer the highest capacity factor and the most reliable long-term performance.

"SunPower Oasis is a ground-breaking, utility-scale solar solution that optimizes energy production, installation speed, material cost, and long-term reliability," said Howard Wenger, president, utility and power plants business group for SunPower Corp. "As our customers continue to build larger, more sophisticated solar power plants, it is critical that we offer them a seamlessly integrated solution. SunPower Oasis streamlines the entire power plant development process, from permitting through construction and financing."

The SunPower Oasis operating system is designed to support future grid interconnection requirements for large-scale solar power plants, such as voltage ride through and power factor control. It also features utility-standard SCADA operation and analytical tools, which include intelligent sensor and control networks for optimized power plant operation.

"SunPower Oasis meets the needs of utilities, investors, developers, and the local community," said Tom Werner, SunPower CEO. "SunPower's proven technology and experience is reflected in this new product which substantially lowers the cost of power plant ownership by significantly reducing balance of systems, development and operational costs."

SunPower has installed more than 120 ground-mounted power plants globally, representing more than 300 MW of operating power generation. The SunPower Oasis power plant will be available globally in the fourth quarter of 2010 and more information about the product can be found at www.sunpoweroasis.com.

About SunPower

Founded in 1985, 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.

Forward-Looking Statement

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. The company uses words and phrases such as "will" and "future" to identify forward-looking statements in this press release, including expectations regarding (a) SunPower Oasis's ability to optimize energy production, installation speed, material costs, and long-term reliability, and streamline the entire development process, from permitting through construction and financing, (b) SunPower Oasis's ability to support future grid interconnection requirements for large-scale solar power plants, such as voltage ride through and power factor control, and (c) SunPower Oasis's availability globally in the fourth quarter of 2010. 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) the company's ability to successfully complete its research and development and manufacturing activities to make SunPower Oasis commercially available in 2010; (ii) evolving regional permitting, financing, grid interconnection, technical, and other customer or regulatory requirements, and SunPower Oasis's ability to satisfy such requirements; and (iii) other risks described in SunPower'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 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.