This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

SunPower's And Flextronics' New Solar Manufacturing Plant Creates Jobs, Economic Benefits And Clean Affordable Energy

Stocks in this article: FLEX

"Flextronics takes great pride in being SunPower's manufacturing partner and in our ability to enable clean energy solutions across the entire breadth of the eco system," said E.C. Sykes, president of Flextronics Industrial.  "For us, it's more than just making projects, it's about creating jobs and the benefits that come from clean technologies and solutions that make lives better for everyone."

Solar as an Affordable Clean Energy

Over the past decade, the cost of solar in general has dramatically reduced with scale by more than 50 percent. Recently, SunPower co-founder Dr. Richard Swanson joined Secretary Chu for the SunShot initiative announcement. SunShot is designed to bring the total costs of utility scale solar energy systems down to roughly $1 per watt. This aggressive action would mean that large scale solar energy costs would be competitive with electricity from existing fossil-fired power plants offering affordable power without incentives.

About SunPower

SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.

About Flextronics

Flextronics Corporation (NASDAQ: FLEX) is a member of a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer, industrial, infrastructure, medical, clean tech and mobile OEMs. Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information, please visit www.flextronics.com.

SunPower 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. SunPower uses words and phrases such as "will," "planned to," "ordering," "designed to," "would be" and similar terms to identify forward-looking statements in this press release, including forward-looking statements regarding (a) SunPower quickly and cost-effectively supplying panels to solar installations in the U.S.; (b) SunPower's construction of the CVSR project; (c) the CVSR project to begin construction this summer; (d) Southern California Edison ordering 200 MW over 5 years; and (e) SunShot bringing down costs of utility scale solar energy systems to roughly $1 per watt, and large scale solar energy costs becoming competitive with electricity from existing fossil-fired power plants without incentives.  Such forward-looking statements are based on information available to SunPower as of the date of this release and involve a number of risks and uncertainties, some beyond SunPower'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) the success of the Flextronics partnership and SunPower's ability to quickly and cost effectively deliver to customers in the U.S.; (ii) unanticipated delays or difficulties securing necessary permits, licenses or other governmental approvals for CVSR; (iii) unanticipated delays or difficulties securing necessary land use rights for CVSR; (iv) construction difficulties or potential delays in the project implementation process for CVSR; (v) availability of debt or equity financing for the project, including a DOE loan guarantee; (vi) early termination or failure to meet conditions precedents in the agreements between NRG and SunPower for the CVSR project; (vii) inability of SunPower and NRG to reach final definitive agreements regarding the development and construction of CVSR; (viii) inability of SunPower, NRG, DOE or Southern California Edison to maintain a successful partnership relationship; (ix) the risk of continuation of supply of products and components from suppliers; (x) evolving law including permitting, financing, grid interconnection, technical, and other customer or regulatory requirements; (xi) general business and economic conditions, and growth trends in the solar power industry; (xii) the continuation of governmental and related economic incentives promoting the use of solar power; (xiii) SunPower's ability to drive down cost along the manufacturing chain, including from its suppliers, and the industry's ability to offer price competitive energy without incentives, and (xiv) other risks described in SunPower's Annual Report on Form 10-K for the year ended January 2, 2011 and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing SunPower's views as of any subsequent date, and SunPower 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.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs