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TheStreet Open House

SunPower Corporation Signs Supply Agreements With Ecomax For 20 Megawatts Of Its High Efficiency Solar Panels

Stocks in this article: SPWR

SAN JOSE, Calif. and TOKYO, Dec. 17, 2013 /PRNewswire/ -- SunPower Corporation (NASDAQ: SPWR), a leading solar technology and energy services provider, today announced that it has signed multiple supply agreements with Ecomax Japan Inc. to purchase SunPower Corporation's high efficiency E20/327 solar panels totaling 20-megawatts (MW). In 2014, Ecomax plans to install the solar panels at several locations in Central and Northern Japan.

Acting as EPC (engineering, procurement and construction), Ecomax will construct multiple mega solar power plants in Gunma, totaling 13 MW for its customer, Farmdo, a company dedicated to assisting farmers and supporting agriculture in Japan. With the remaining 7 MW, Ecomax will build and operate solar installations and plans to sell the energy to local utility companies. It will also own 3 MW as an IPP (Independent Power Producer).

"We are pleased to partner with SunPower Corporation to install its high efficiency E20/327 solar panels, the most reliable on the market today," said Tadanaga Komori, President for Ecomax Japan Inc. "Our environmentally conscious customers such as Farmdo will benefit from clean energy generated by these solar systems."

Ecomax has signed an extension to the existing solar panel purchase agreement with SunPower Corporation and will continue to buy the E20/327 solar panels for its future installations.

"SunPower Corporation is pleased to partner with Ecomax, extending our presence in Japan's mega solar power plant and commercial rooftop generation markets," said Howard Wenger, SunPower Corporation president, regions. "Our high efficiency solar panels and systems are a strong fit for Japan given the country's buildable land constraints and high grid interconnection costs."

Integrated into the E20/327 solar panels by SunPower Corporation are its Maxeon® all-back contact solar cells. These cells are built on a solid copper foundation, making them extremely resistant to cracking, corrosion and stresses from temperature variation. With an efficiency of 20.1 percent, the E20/327 panels deliver more power in the same amount of space and maximize system output with fewer panels installed.

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