SunPower to Supply Equipment Solutions to Global Solar Power Plant Market

SAN JOSE, Calif., April 24, 2017 /PRNewswire/ -- SunPower (NASDAQ:SPWR) announced today that it now offers the fully-integrated SunPower® Oasis® Power Plant platform directly to solar power plant developers and engineering, procurement and construction (EPC) providers through a newly formed SunPower® Solutions business unit. SunPower Solutions enables developers and EPCs to benefit from SunPower's extensive experience over the past decade developing, financing, constructing, operating and maintaining solar power plants.

"The SunPower Oasis platform delivers competitive cost of energy with the proven reliability and quality of SunPower technology in a fully pre-engineered complete solution," said Tom Werner, president and CEO of SunPower. "Through SunPower Solutions, we enable solar power plant customers around the world to achieve the same standards of excellence with respect to installation speed, quality and performance that we have demonstrated in over 1,000 large-scale solar power plant projects on six continents since 2004."

"The market for solar power plants is rapidly globalizing, with solar power now the most competitive form of new electricity generation in many countries," continued Werner. "In most emerging markets, there is not yet a significant base of installed solar capacity, and limited experience siting, designing, constructing and operating large-scale solar facilities. SunPower's fully-integrated Oasis platform allows local developers and EPC companies new to solar power to minimize risk to project construction schedules and ensure reliable operation while delivering competitive cost of energy."

SunPower Solutions has operations in more than 10 countries and has signed almost 200 megawatts of contracts this year to supply SunPower power plant technology to projects in North America, Europe and Oceania.

In September 2016, SunPower launched its third-generation Oasis Power Plant, a complete power plant solution that installs quickly and optimizes site utilization to maximize value for customers. Product features include 50 percent fewer parts than conventional solar plant systems and an integrated solar tracker design that streamlines construction and reduces operations and maintenance costs.

"Every part of the Oasis platform is engineered to maximize energy yield, delivering a more efficient, reliable solution for long-term energy production," continued Werner. "The SunPower Oasis platform uses drones and our proprietary software to quickly survey sites and select the optimal layout to achieve project financial and energy goals. Oasis trackers are designed to flexibly accommodate steeper slopes and minimize on-site grading. EPC companies appreciate that Oasis is fast and easy to install, and end customers benefit from up to 67 percent more lifetime energy density from a given site."

SunPower P-Series solar panels are cost-effective, high efficiency panels that produce more energy than conventional solar panels over the lifetime of the system. P-Series panels use proven materials, including a proprietary encapsulant that protects the solar cells from degradation caused by moisture and a novel interconnection technology that eliminates the most common solar panel failure mode.

About SunPower

With more than 30 years of proven experience, SunPower is a global leader in solar innovation and sustainability. Our unique approach emphasizes the seamless integration of advanced SunPower technologies, delivering The Power of One™ complete solar solutions and lasting customer value. SunPower provides outstanding service and impressive electricity cost savings for residential, commercial and power plant customers. At SunPower, we are passionately committed to changing the way our world is powered. And as we continue shaping the future of Smart Energy, we are guided by our legacy of innovation, optimism, perseverance and integrity. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North America and South America. Since 2011, we've been majority-owned by Total, the fourth largest publicly-listed energy company in the world. For more information, 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 market trends, future projects, 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, the SUNPOWER logo, SUNPOWER SOLUTIONS, OASIS and THE POWER OF ONE are trademarks or registered trademarks of SunPower Corporation in the U.S. and other countries as well.

SOURCE SunPower Corp.

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