SAN JOSE, Calif., and
SYDNEY, Oct. 3, 2012 /PRNewswire/ -- SunPower Corp.
(NASDAQ: SPWR) and Epuron today announced that Epuron has acquired
the 1-megawatt Uterne solar power plant operating in Alice Springs,
Australia. Commonwealth Bank (ASX:
CBA), Australia's leading provider
of integrated financial services, has provided project financing,
making it the country's first major bank to support a solar project
of this size.
The project was developed by SunPower with the support of Power
and Water Corporation. Under a solar power purchase agreement,
Power and Water Corporation will buy generated electricity at a
guaranteed rate over a 20-year term. Following the acquisition,
SunPower will continue to provide operations and maintenance
services in conjunction with Ogden Power, a SunPower accredited
solar company based in Alice Springs.
"Epuron's acquisition of Uterne underscores the bankability of
SunPower's industry-leading, high efficiency technology, decades of
proven experience and more than 2,500 megawatts deployed globally,"
said Howard Wenger, SunPower
president, regions. "This solar power plant has exceeded
reliability and energy production expectations since it was
commissioned in June 2011, and will
reliably generate power and return on investment for the life of
the system."
"The acquisition of Uterne further demonstrates Epuron's
commitment to a growing solar portfolio in the Northern Territory,"
said Epuron Executive Director Andrew
Durran. "The project is a great addition to our 1-megawatt
remote TKLN Solar project, making Epuron one of the largest solar
project owners and asset managers in Australia. Epuron is especially pleased to be
able to project finance the acquisition through CBA, a first for a
project of this size in Australia."
Uterne is comprised of high efficiency SunPower solar panels
installed on the SunPower® T20 Tracker, which positions panels to
follow the sun during the day, increasing daily energy production
by up to 30 percent over conventional fixed-tilt installations. In
August 2012, Uterne received an
Engineering Excellence Award from the Institution of Engineers
Australia.
The development of Uterne was made possible with funding
assistance from the Australian Government as part of its Solar
Cities program. The solar power plant is a key component of the
Alice Solar City program and illustrates the initiative's success
in developing more sustainable energy solutions in Australia.
About SunPower
SunPower Corp. (NASDAQ: SPWR) 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, Africa and Asia. For more information, visit
www.sunpowercorp.com.
About Epuron
Founded in 2003, Epuron is a leading Australian renewable energy
company with a focus on development of utility-scale wind and solar
energy projects. Epuron's TKLN Solar project in the Northern
Territory is ready to supply three remote communities in
Australia's outback. Epuron
is also one of Australia's most
successful wind farm developers. It has developed the highest
yielding, largest, and largest number of wind farms in NSW. Epuron
is working with both mining and utility clients to provide
reliable, off-grid power using solar and wind energy to supplement
diesel or gas power supplies. For more information, visit
www.epuron.com.au.
SOURCE SunPower Corp.