SunPower is Leading Solar Panel Provider in First Round French Tender

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SunPower to Supply 31 Percent of Solar Projects Awarded

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Mar 21, 2017, 03:05 ET

PARIS, March 21, 2017 /PRNewswire/ -- SunPower (NASDAQ:SPWR) announced today that, in the first round of France's tender process for large-scale solar power, the company will supply 31 percent of the solar panels required for the awarded solar projects, more than any other solar panel brand. In total, SunPower will provide 130 megawatts of its high efficiency SunPower® E-Series solar panels for installation at 25 ground-mount and carport solar projects.

"SunPower solar panels deliver competitive cost of energy, highest reliability and proven long-term performance," said SunPower Executive Vice President Eduardo Medina. "We are proud to be the leading provider of solar panels for the solar projects announced in this first tender round, and to play a key role in promoting the use of clean, renewable solar power in France."

A significant portion of the panels SunPower supplies will be manufactured at the company's facilities in Toulouse, France.

SunPower's direct current E-Series solar panels, as well as its X-Series solar panels, are Cradle to Cradle Certified™ Silver. SunPower is the only solar panel manufacturer in the world to achieve this designation, which demonstrates a product's quality based on rankings in five categories: material health, material reutilization, renewable energy use, water stewardship, and social fairness.

Ninety-nine percent of the waste generated at SunPower's manufacturing facilities in Toulouse and De Vernejoul, France is diverted to landfills, earning the facilities landfill-free verification from NSF Sustainability, a division of the global public health organization NSF International. More information on the company's commitment to sustainability can be found here on SunPower's website.

About SunPower

As one of the world's most innovative and sustainable energy companies, SunPower Corporation (NASDAQ:SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding timeline and projected energy output. These forward-looking statements are based on our current assumptions, expectations, and beliefs and involve substantial risks and uncertainties that may cause results, performance, or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: regulatory changes and the availability of economic incentives promoting use of solar energy, challenges inherent in constructing and maintaining certain of our large projects, and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent report on Form 10-K, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

©2017 SunPower Corporation. All Rights Reserved. SUNPOWER and the SUNPOWER logo are trademarks of SunPower Corporation in the European Union, U.S. and other countries as well. Cradle to Cradle Certified™ is a certification mark licensed by the Cradle to Cradle Products Innovation Institute.

SOURCE SunPower Corp.