Solar Stocks; SunPower (Nasdaq: SPWRA, SPWRB) Solar Technology Selected for Multiple U.S. Federal Government Facilities

Solar Stocks; SunPower (Nasdaq: SPWRA, SPWRB) Solar Technology Selected for Multiple U.S. Federal Government Facilities

SAN JOSE, Calif., Aug. 30 ( Investorideas.com renewable energy/green newswire ) -- SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced that SunPower world-leading solar technology has been selected for installation at several U.S. government properties, including for the Department of Energy's National Renewable Energy Lab (NREL), the General Services Administration (GSA), the Navy and the Air Force. SunPower expects to create more than 1000 local jobs during the construction of these projects. These contracts represent a minimum of 20 megawatts (MW) of new solar projects for SunPower.

"SunPower has worked with federal agencies since 1999, resulting in the installation of more than 20 MW of solar power systems at government facilities," said Karen Butterfield, SunPower's director of federal accounts. "As a result, SunPower has the experience and credibility to successfully navigate the federal procurement process and deliver reliable, high performance solar systems that meet agency requirements. With the addition of a U.S.-based panel manufacturing facility this year, we have also bolstered our ability to serve this growing demand."

Recent government contracts won by SunPower include the following:

•SunPower was selected by NREL to design and construct a 2-megawatt solar power system at the Department of Energy's new Research Support Facility on the NREL campus in Golden, Colo. The project will be installed at three sites, including a new ultra-low energy office complex, an outdoor parking area, and a parking garage. Colorado-based SunPower Premier Dealer Namaste Solar is partnering with SunPower to install the systems. This project is being financed through the American Recovery and Reinvestment Act (ARRA) of 2009, and is expected to be complete by the end of 2011.•The General Services Administration (GSA) and general contractor Shiel Sexton selected SunPower solar technology for the 1.8-MW solar system that is under construction at the General Emmett Bean Federal Building in Indianapolis, Ind. The project uses the SunPower T5 Solar Roof Tile system, which integrates a high-efficiency solar panel, frame and roof-mounting system into a single pre-engineered unit. The T5 Solar Roof Tiles position the solar panels at a 5-degree tilt, for greatest energy production. Scheduled for completion in January 2011, the system will be the largest rooftop solar power system on a GSA facility. This project is being financed through ARRA.•SunPower was one of five solar providers awarded an indefinite delivery-indefinite quantity contract by Naval Facilities Command to deliver solar power systems to Navy and Marine Corps installations throughout the southwestern United States. Under the contract, SunPower will design, build, operate and maintain the systems, and sell the power to the Navy and Marine Corps under power purchase agreements. Projects may range in size from one to 15 MW. The Navy will have up to five years to award up to 40 MW of solar projects under this $200 million contract.•Earlier this month, SunPower announced an agreement with Arizona Public Service (APS) to design and construct a 15-MWac solar photovoltaic power system at Luke Air Force Base in Glendale, Arizona. The system will use SunPower solar panels with the SunPower Tracker® system, which follows the sun's movement during the day, increasing sunlight capture by up to 25 percent over conventional fixed-tilt systems, while significantly reducing land use requirements. Scheduled for completion in the summer of 2011, it is expected to be the largest solar power installation at a U.S. government facility and generate the equivalent of 50 percent of the annual energy requirements for Luke Air Force Base.



About SunPower

Founded in 1985, 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.

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 company uses words and phrases such as "expected," "scheduled," and "will" to identify forward-looking statements in this press release, including forward-looking statements regarding the expected completion of the construction of solar power systems for NREL, the General Emmett Bean Federal Building in Indianapolis, Ind. and Luke Air Force Base; and the company's construction of solar projects for sale of energy under power purchase agreements to Naval Facilities Command. 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) construction difficulties or potential delays in the project implementation process; (ii) unanticipated delays or difficulties securing necessary permits, licenses or other governmental approvals; (iii) the risk of continuation of supply of products and components from suppliers; (iv) unanticipated problems with deploying the systems on the sites; (v) the timing and quantity of contracts awarded to the company by Naval Facilities Command; (vi) the availability of financing; and (vii) other risks described in the company's Annual Report on Form 10-K for the year ended January 3, 2010 and Quarterly Report on Form 10-Q for the quarter ended July 4, 2010, 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.


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