SunPower Corporation Announces 29-Megawatt Supply Agreement with Nangoku Corporation

Nangoku to Build Mega Solar Power Plant in Hilly Region of Kagoshima Prefecture

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Jul 29, 2014, 09:00 ET

TOKYO, July 29, 2014 /PRNewswire/ -- At the PV Japan 2014 conference today, SunPower Corporation (NASDAQ: SPWR), a leading solar technology and energy services provider, today announced it has signed a definitive agreement to supply Nangoku Corporation (Nangoku) with 29-MWdc of the high efficiency E20/327 Solar Panel by SunPower Corporation. Nangoku, an independent power producer will build a mega solar plant in the Hioki, Kagoshima prefecture on the Island of Kyushu.

"Our mega solar power plant will be built on a hilly region of Hioki with limited space, so we need to install the most efficient solar panels available," said Masanori Fukui, executive officer for Nangoku. "We chose the high-efficiency E20/327 Solar Panel by SunPower Corporation, because we can install more megawatts in this space constrained area, minimizing manpower costs and maximizing profits with higher energy output."

Nangoku serves as one of the largest, general trading companies in the Kyushu area. It has four main businesses: energy, telecommunications, construction materials and machinery equipment. Its mega-solar, environmental and forestry equipment sales are part of the machinery equipment division. Nangoku has 12 MW of solar in operation and 150-200 MW planned in Kyushu area.

"Our E20/327 solar panels offer greater efficiency and more reliability than other panels on the market today," said Howard Wenger, SunPower president, regions. "Because of their efficiency, these panels are ideal for space constrained ground mounted projects. We are pleased that Nangoku chose our E20/327 solar panels for its mega solar power plant."

Integrated into the E20/327 Solar Panels by SunPower Corporation are its patented Maxeon® all-back contact solar cells. These cells are built on a solid copper foundation, making them extremely resistant to cracking, corrosion and stresses from temperature variation. With an average efficiency of 20.1 percent, the E20/327 panels deliver more power in the same amount of space and maximize system output with fewer panels installed.

The E20/327 Solar Panel by SunPower Corporation is backed by the company's straightforward 25-year combined product and power warranty, which is 15 to 20 years longer than most product warranties. It offers the industry's lowest power degradation with more warranted energy, resulting in an unprecedented 87 percent power level at the end of 25 years.

Solar products by SunPower Corporation are branded in Japan under the Maxeon Solar™ name. The company will be exhibiting at PV Japan 2014 this week at the Tokyo Big Site in Stand #P1-066.

About SunPower Corporation
SunPower Corporation (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpower.com.

SUNPOWER and Maxeon are registered trademark of SunPower Corporation in the U.S. and other countries. All other trademarks are the property of their respective owners.

SOURCE SunPower Corp.