Epuron Acquires Australia's Largest Tracking Solar Power Plant from SunPower

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.

Pennsylvania Breaks Ground On Nation's 4th Largest Solar Project

FALLS TOWNSHIP, Pa., March 19 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell said multi-million-dollar renewable energy projects, like the solar electricity generation plant he helped break ground on today in Bucks County, reinforce Pennsylvania's leadership in one of the nation's fastest growing industries and highlight the potential for jobs and economic development.

"When this facility is up and running -- likely by September or October of this year -- it will be among the largest in the country, and certainly the largest east of Arizona," said Governor Rendell during groundbreaking ceremonies for the Exelon-EPURON Solar Center. "This project embodies the commitment we've made to renewable energy in the commonwealth.

"By enacting one of the nation's most ambitious alternative energy portfolio standards, investing our resources wisely, and leveraging our strengths, we've been able to attract exciting projects like this, along with some of the world's leading renewable energy companies, to
Pennsylvania."

The $20 million Exelon-EPURON Solar Center will feature 16,500 solar panels on a 16.5-acre tract of land adjacent to Waste Management's GROWS Landfill. Governor Rendell announced the project in August.

Upon completion, the solar plant will annually produce approximately 3,700 megawatt hours of power, which is enough to meet the energy requirements of approximately 400 homes. At this output, emission levels of carbon dioxide and sulfur dioxide that directly contribute to pollution and acid rain will be reduced by the equivalent of planting 33 acres of trees every year or taking more than 440 cars off the road each year.

The facility is owned by EPURON LLC, a subsidiary of the world's largest solar integration company, Conergy AG, which has its North American headquarters in Pennsylvania. Another Pennsylvania-based Conergy subsidiary, Conergy Systems USA -- formerly SunTechnics -- will build the solar center.

"We are pleased to begin construction of the largest East Coast solar energy facility, and the fourth largest in the U.S.," said Arndt E. Lutz, EPURON general manager. "This project will be the first of many in Pennsylvania that will help meet the Alternative Energy Portfolio Standard
that the commonwealth had the vision to implement. It is our goal to develop and build solar energy in Pennsylvania for many years to come. We would like to express our thanks to the Governor, state legislature, Exelon and Waste Management for making this project happen."

The Alternative Energy Portfolio Standards Act requires that 18 percent of all energy generated in the state come from alternative and renewable sources by 2021, including 0.5 percent from solar. Approximately 850 megawatts of additional solar capacity are expected to be installed in the state by 2021.

Exelon Generation Company LLC made an important financial commitment to the project through a 20-year power purchase agreement for the energy produced, recognizing the environmental importance of solar energy, according to Kenneth Cornew, president of Exelon Power Team.

"Exelon recognizes the importance of minimizing the amount of greenhouse gas emissions associated with electricity production," said Cornew. "We are an industry leader in this area. Our fleet emits less greenhouse gas than any other large electric generation company, but we all
need to do more to reduce our carbon footprint and meet America's future energy needs. This is why Exelon is proud to be a partner with the governor, the state legislature, EPURON, and Waste Management in bringing the benefits of one of the nation's largest solar power projects to
Pennsylvania and the region."