SunPower Corporation to Supply Shimizu with 69 Megawatts of its High Efficiency Solar Panels for Eurus Energy Power Plant Company Provides Clean Energy to Japan's Largest Solar Installation
SAN JOSE, Calif. and TOKYO, Sept. 29, 2013 /PRNewswire/ -- SunPower Corporation (NASDAQ: SPWR), a leading solar technology and energy solutions provider, today announced it will supply 69-megawatts (MW) of its high efficiency E20/327 solar panels to Shimizu Corporation for installation at the Eurus Energy mega solar power plant project in the village of Rokkasho, Aomori, Japan. With this agreement, SunPower is providing clean energy to Japan's largest solar installation.
Shimizu, a leading architectural, engineering and general contracting firm in Japan, will act as the engineering, procurement and construction (EPC) provider for the project which is owned by Eurus Rokkasho Solar Park Corporation, a subsidiary of Eurus Energy Group. It is scheduled for commercial operation in the second half of 2015.
"The proven efficiency and reliability of the modules from SunPower Corporation, coupled with the industry's best warranty, will enable us to build a power plant that will benefit the community of Rokkasho," said Eurus Rokkasho Solar Park Corporation President Satoshi Takahata.
Integrated into the E20/327 solar panels by SunPower Corporation are its 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 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 company's solar panels are backed by the company's straightforward 25-year combined product and power warranty. 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.
"We are pleased that Eurus chose SunPower Corporation for two mega solar power plant projects in Japan," said Howard Wenger, SunPower president, regions. "The Japanese market continues to respond well to our high efficiency solar products for all customer segments -- residential, commercial and utility-scale."
SunPower Corporation will also supply 27.4 MW of its E20/327 solar panels to Obayashi Corporation for installation at the mega solar power plant project in Toyokoro, Hokkaido, Japan, which is also owned by a subsidiary of Eurus Energy Group. Obayashi will act as EPC and the project is scheduled for commercial operation in 2015.
Solar products by SunPower Corporation are branded under the Maxeon Solar name in Japan. The capacity of mega solar power plants in this release is described in approximate megawatts on a direct current (dc) basis unless otherwise noted.
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.sunpowercorp.com.
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," "continues," and similar expressions to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) Japanese market response; and (b) growing our business in Japan. 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 impact of regulatory changes and the continuation of governmental and related economic incentives promoting the use of solar power; (ii) general business and economic conditions, including seasonality of the solar industry and growth trends in the solar industry; and (iii) other risks described in the company's Annual Report on Form 10-K for the year ended December 30, 2012, the company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, 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.
SUNPOWER and MAXEON are registered trademarks of SunPower Corporation in the U.S. and other countries. All other trademarks are the property of their respective owners.
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