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Construction Currently Underway, Full Operation Expected in Mid-2020
SAN JOSE, California, Oct. 30, 2018 /PRNewswire/ -- SunPower (NASDAQ:SPWR) announced today that it is supplying 349 megawatts of SunPower high efficiency solar panels for the Limondale solar power plant, Australia's largest solar project to date.
"We commend innogy and BELECTRIC for this milestone project, and for using high-performance SunPower® technology to ensure long-term value," said SunPower Executive Vice President Peter Aschenbrenner. "Customers worldwide rely on SunPower solar panels for proven performance and reliability."
SunPower is supplying its Performance Series (P-Series) solar panels for the project, which is expected to be fully operational in mid-2020.
The company's 19 percent efficient P-Series solar panels deliver value as a result of a unique shingled design that improves reliability and efficiency, and outperforms conventional panel yield in real-world conditions such as partial shading and elevated temperatures. It is part of a comprehensive high-efficiency product portfolio that includes SunPower's X- and E-Series panels, and, beginning in 2019, will include its newly developed next generation technology.
innogy is constructing the solar power plant. The company's subsidiary, BELECTRIC, is the Engineering, Procurement and Construction (EPC) contractor, as well as the Operation and Maintenance (O&M) service provider. BELECTRIC is an experienced company in the global solar market with nearly 2 gigawatts of executed projects globally, including projects in Australia.
About SunPower
As one of the world's most innovative and sustainable energy companies, SunPower Corporation (NASDAQ:SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.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, including, but not limited to, statements regarding project plans and timelines, projected energy output, and product performance. 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 reports on Forms 10-K and Form 10-Q, 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.
© 2018 SunPower Corporation. All Rights Reserved. SUNPOWER and the SUNPOWER logo are registered trademarks of SunPower Corporation in the U.S. and other countries as well.
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