SAN JOSE, Calif. and GENEVA, Sept 08, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- The French retailer Casino Group and SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced that SunPower will supply 14 megawatts of high-efficiency solar photovoltaic panels to the supermarket conglomerate by the end of this year. Casino Group will use the panels to install solar power systems ranging from 900 kilowatts to 5 megawatts on rooftops and parking structures on supermarket locations in mainland France and the islands of Mayotte and La Reunion.
"This is the first step of a major new renewable energy initiative for Casino, which includes a pipeline of projects to be developed over the next several months," said Casino Chief Real Estate and Development Officer Jacques Ehrmann. "SunPower's proven high-efficiency technology generates the most power in space constrained areas. This will allow us to maximize the amount of clean, renewable solar power that will be produced at our facilities, and reinforces our commitment to sustainable development."
"As a successful business leader with one of the largest retail networks in France, Casino understands that solar power today offers a great return on investment. We are delighted to partner with Casino in significantly expanding the rooftop solar market in France," said SunPower Senior Director Jorn Jurgens.
SunPower will supply Casino with its SunPower(R) 315 Solar Panel and SunPower(R) 305 Solar Panel, offering 315-watts and 305-watts per panel, respectively. These panels are comprised of 96 SunPower solar cells that deliver more energy production per square meter than conventional panels. The 315-watt SunPower solar panel currently offers the industry's highest conversion efficiency of 19.3 percent. Some of the systems will be considered building-integrated photovoltaic systems under the French feed-in-tariff program.
With its European headquarters in Geneva, SunPower systems have been installed on facilities operated by the Bon Preu Esclat supermarket chain in Spain, and on multiple rooftops for US-based retailers such as Target, Wal-Mart Stores, Macy's and Lowe's.
Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.
Founded in 1898, the Casino Group is one of the world's leading food retailers, active in multiple retail formats. Its operating performance, which has grown steadily over the past several years and now exceeds the industry average, is the result of the Group's unique position in the market and its ability to anticipate changing lifestyles and consumer practices. The Group is present in 11 countries around the world: Casino has chosen to focus its efforts on emerging countries with high growth potential, primarily in South America and Southeast Asia where its subsidiaries are industry leaders and firmly anchored in their communities. For more information, visit www.groupe-casino.com.
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. The companies use words and phrases such as "to develop," "will," "pipeline" and "offers" to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) Casino Group developing PV systems on its properties; (b) SunPower supplying 14 megawatts of high-efficiency solar photovoltaic panels by the end of 2009; (c) Casino Group developing a pipeline of projects over the next several months; and (d) SunPower's panels allowing Casino Group to maximize the amount of clean, renewable solar power that will be produced at its facilities and offering a great return on investment. Such forward-looking statements are based on information available to the companies as of the date of this release and involve a number of risks and uncertainties, some beyond their control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) construction difficulties or potential delays in the project implementation process; (ii) unanticipated delays or difficulties securing necessary permits, licenses or other governmental approvals; (iii) the risk of continuation of supply of products and components from suppliers; (iv) unanticipated problems with deploying the system on the sites; (v) actual electricity generation; (vi) the actual energy consumption rate; (vii) unexpected changes in utility service rates; (viii) exercise of early termination rights under the supply agreement; and (ix) other risks described in SunPower's Annual Report on Form 10-K for the year ended December 28, 2008, its Quarterly Report on Form 10-Q for the quarter ended June 28, 2009, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the companies' views as of any subsequent date, and the companies are under no obligation to, and expressly disclaim any responsibility to, update or alter their forward-looking statements, whether as a result of new information, future events or otherwise.
SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.
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