Sun Electric Corporation

SunPower Building New Systems

Under this new agreement, SunPower will build a 1.1-megawatt SunPower Tracker system at the district's Senga Doherty Pump Station in Murrieta. The Tracker positions SunPower solar panels, to follow the sun's movement during the day. This increases sunlight capturing capacity by 25% over conventional fixed-tilt systems, while significantly reducing land use requirements.

Also at RCWD headquarters in Temecula, SunPower will construct a 610-kilowatt solar parking canopy structure, providing both a cool parking lot and generate solar electric power for RCWD's facility.

The systems will be funded with qualified energy conservation bonds (QECBs), which are issued by the state of California and are designed to provide low-interest financing to promote the use of renewable energy in state, local, and tribal government facilities. RCWD will own the renewable energy credits associated with the systems.

SunPower will start construction on the two systems this summer and expects to complete by the end of 2011.

SunPower’s customer base is spread across North America, Europe, the Middle East, Asia and Australia. The company has been proactive in venturing into new markets. Apart from a sizeable presence in the US, it is already focusing on improving market share in Spain and Germany, while gaining new market share in emerging markets like Italy, Australia, France, Japan and Greece.

SunPower’s presence within the residential and commercial markets is getting more and more prominent with the expansion of its network of dealers globally. By fiscal-end 2011 the company expects its global dealer network to almost double to around 2,000 dealers.

Finally, by steering clear of long-term contracts for sales through its dealer network, the company is geared for experiencing growth in its margins with the help of some short-term upswing in the solar market.

SunPower Corporation designs, develops, manufactures, markets and sells high-performance solar electric power technology products, systems and services worldwide for residential, commercial and utility-scale power plant customers. The company’s semiconductor-based solar cells and solar panels, which convert sunlight into electricity, are manufactured using proprietary processes and technologies.

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