SEOUL, South Korea, May 20 CA-SunPower-solar-pwr
SEOUL, South Korea, May 20 /PRNewswire-FirstCall/ -- SunPower Corporation
(Nasdaq: SPWR), a manufacturer of high-efficiency solar cells, solar panels,
and solar systems, today announced that it has completed design and
construction of a new 1.4-megawatt solar electric power plant project in
Hampyeong, South Korea.
SunPower worked with Korean energy company EnE System to complete the
plant, which is owned by Hampyeong Solar Plus, and will generate 1.8 million
kilowatt-hours per year.
"By utilizing the highest efficiency SunPower solar technology, Hampyeong
Solar Plus is maximizing both their financial returns and the environmental
benefits of this solar power plant," said Stanley S.K. Bae, SunPower's general
manager in Korea. "Along with EnE System, they are demonstrating leadership by
addressing Korea's tremendous energy needs with clean, renewable solar power."
At the power plant site, SunPower installed SunPower panels, which are up
to 50 percent more efficient than conventional panels, as well SunPower(R)
Tracker solar tracking systems. The Tracker tilts toward the sun as it moves
across the sky, significantly increasing daily energy production compared with
fixed-tilt systems.
"We selected SunPower based on the company's experience with utility-scale
power plant projects as well as the efficiency and proven reliability of
SunPower's technology," said Sang Kug, Moon, managing director of EnE System.
SunPower is doing business in Korea in several areas. The company has a
multi-year polysilicon supply agreement with Korea's DC Chemical Co., Ltd.,
and has invested in a joint venture with Woongjin Holding Co. Ltd. to
manufacture mono-crystalline silicon ingots, with polysilicon supplied
primarily from DC Chemical. SunPower also recently commissioned three
additional solar power plants, including a 2-megawatt installation in Jeonju,
the 2.2-megawatt Mungyeong SP Solar Mountain plant, and a 1-megawatt plant in
Gwangju.
This month, SunPower is showcasing its products and service offerings as
an exhibitor (in booth B-096) at Green Energy Expo, 21-23 May, in Daegu,
Korea. On May 22 at the Expo, the company is hosting a seminar entitled
"SunPower Technology Solutions," featuring the SunPower Tracker as well as the
SunPower T10 Solar Roof Tile for commercial rooftops. For more information on
the seminar, contact Jenny Kwon at jkwon@sunpowercorp.com.
About SunPower
SunPower Corporation (Nasdaq: SPWR) designs, manufactures and delivers
high-performance solar electric systems worldwide for residential, commercial
and utility-scale power plant customers. SunPower high-efficiency solar cells
and solar panels generate up to 50 percent more power than conventional solar
technologies and have a uniquely attractive, all-black appearance. With
headquarters in San Jose, Calif., SunPower has offices in North America,
Europe and Asia. For more information, visit www.sunpowercorp.com. SunPower is
a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).
Forward-Looking Statement
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements are statements that do not represent historical
facts. The company uses words and phrases such as "will," and similar
expressions to identify forward-looking statements. Forward-looking statements
in this press release include, but are not limited to, the company's plans and
expectations regarding the plant generating 1.8 million kilowatt-hours per
year. These forward-looking statements are based on information available to
the company as of the date of this release and management's current
expectations, forecasts and assumptions, and involve a number of risks and
uncertainties that could cause actual results to differ materially from those
anticipated by these forward-looking statements. Such risks and uncertainties
include a variety of factors, some of which are beyond the company's control.
In particular, risks and uncertainties that could cause actual results to
differ include actual electricity generation, and other risks described in the
company's Quarterly Report on Form 10-Q for the quarter ended March 30, 2008,
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 is a registered trademark of SunPower Corp. Cypress is a
registered trademark of Cypress Semiconductor Corp. All other trademarks are
the property of their respective owners.
SOURCE SunPower Corporation
