SunPower Finalizes Sale of 13-Megawatt Solare Roma Power Plant in 2010

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Jan 03, 2011, 03:05 ET

SAN JOSE, Calif., Jan. 3, 2011 /PRNewswire/ -- SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced that it completed the sale of its 13-megawatt (MW) Solare Roma solar power plant to Allianz Renewable Energy Partners IV Ltd., a wholly-owned subsidiary of Allianz SE on December 30, 2010. SunPower designed and built the solar power plant and will provide ongoing operations and maintenance services for the new owner.

"The finalized sale of the Solare Roma power plant, along with our recently announced Montalto di Castro 44-megawatt solar park, completes our 2010 plan to develop, construct and monetize 85-megawatts of projects in Italy," said Dennis Arriola, SunPower chief financial officer. "We're pleased with our accomplishments this year and are well positioned to continue our success in 2011."

The 13-MW Solare Roma power plant is located in the municipality of Anguillara, Province of Rome, Lazio region, Italy.

Editors' Note: The capacity of power plants in this release is described in approximate megawatts on an alternating current (AC) basis unless otherwise noted. The Solare Roma power plant is approximately 15-MW in total direct current (DC) and the Montalto di Castro solar parks total approximately 85-MW in total DC.

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.

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SOURCE SunPower Corp.