GENEVA, June 24 /PRNewswire-FirstCall/ -- The French retailer Casino Group (Paris CASP.PA) and SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced that SunPower will supply an additional 20 megawatts of high-efficiency solar photovoltaic panels for solar power installations on Casino Group properties in mainland France. The agreement, which builds on a similar 15-megawatt agreement between the two companies last year, will enable Casino Group to turn under-utilized roof space and parking area into power plants to produce renewable electricity and reduce carbon dioxide emissions.
"As an indication of the fast development of GreenYellow, the renewable energy subsidiary of the Casino Group, and to improve our continued commitment to sustainability, Casino Group is very pleased to extend our agreement with SunPower and install solar power systems on a significant number of additional properties," said Philippe Houins, chief operations officer of Green Yellow. "SunPower's proven high-efficiency technology delivers the highest energy density in space constrained areas. This permits us to maximize the amount of clean, renewable solar power that will be produced at our facilities, maximizing cost optimizations and environment benefits. The choice of SunPower reinforces our commitment to building-integrated solar systems which is today the best way to produce renewable energy by the valorization of non-utilized space."
"We are delighted to partner with Casino to further expand their use of solar power in France, increasing their total commitment to more than 35 megawatts. We are confident that, with SunPower's proven performance and reliability, Casino and GreenYellow will continue to achieve considerable return on investment over the 25-to-30-year lifetime of the solar panels," said Howard Wenger, president, utility and power plants, for SunPower.
SunPower will supply Casino with its SunPower E19 Series solar panels, which offer a world record efficiency of 19 percent or greater. The modules feature larger, more powerful all-back contact solar cells that deliver three percent more surface area per cell, boosting panel efficiency by reducing unutilized space. The panels also have an anti-reflective coating that allow for more diffuse off-angle light to be captured, generating more energy per rated watt than a conventional solar panel.
The combined 35 megawatt agreement will result in solar power systems at 18 of the company's properties, on rooftops and parking lots. In-store monitoring displays at Casino's facilities with solar power systems will provide customers and employees with information on how much solar power is being generated on site.
Casino Group includes 11,000 stores in 9 countries making it one of the largest French retail networks, and consists of more than 20 different brands of stores.
With its European headquarters in Geneva, SunPower systems have been installed on facilities operated by the Bon Preu Esclat supermarket chain in Spain, and on multiple rooftops for US-based retailers such as Target, Wal-Mart Stores, Macy's and Lowe's.
Celebrating its 25th anniversary this year, 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.
Founded in 1898, the Casino Group is one of the world's leading food retailers, active in multiple retail formats. Its operating performance, which has grown steadily over the past several years and now exceeds the industry average, is the result of the Group's unique position in the market and its ability to anticipate changing lifestyles and consumer practices. The Group is present in 9 countries around the world: Casino has chosen to focus its efforts on emerging countries with high growth potential, primarily in South America and Southeast Asia where its subsidiaries are industry leaders and firmly anchored in their communities. For more information, visit www.groupe-casino.com.
SunPower's Forward-Looking Statements
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 companies use words and phrases such as "to be," and "will" to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) Casino Group developing PV systems on its properties; (b) SunPower supplying high-efficiency solar photovoltaic panels; (c) construction schedule; (d) reduced carbon dioxide emissions and environmental benefits; (e) energy production and efficiency; and (f) cost savings and return on investment. Such forward-looking statements are based on information available to the companies as of the date of this release and involve a number of risks and uncertainties, some beyond their control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) unanticipated construction difficulties or potential delays in the project implementation process, including securing necessary permits, licenses or other governmental approvals; (ii) the risk of continuation of supply of products and components from suppliers; (iii) unanticipated problems with deploying the systems on the sites; (iv) actual electricity generation; (v) the actual energy consumption rate; (vi) unexpected changes in utility service rates; (vii) variations in carbon dioxide emissions reductions; and (viii) 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 companies' views as of any subsequent date, and the companies are under no obligation to, and expressly disclaim any responsibility to, update or alter their forward-looking statements, whether as a result of new information, future events or otherwise.
SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.
SOURCE SunPower Corp.