SunPower and the 49's Team Up To Power New Stadium

SANTA CLARA, Calif., Feb. 26, 2013 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR), the Santa Clara Stadium Authority and the San Francisco 49ers today announced that SunPower has been named the official and exclusive solar technology partner of the San Francisco 49ers and the new Santa Clara Stadium.

SunPower will supply 400 kilowatts of its high efficiency solar panels that will be used to generate enough electricity over the course of a year to offset the power consumed by the stadium during 49ers home games.

SunPower solar panels will be featured in three solar array-covered bridges, a solar canopy above the green roof on the suite tower portion of the stadium and over the 49ers training facility. The solar panels will be produced at SunPower's Silicon Valley manufacturing facility.

"We are pleased that SunPower's industry-leading solar technology will be an integral part of our innovative and sustainable vision for the stadium," said Jed York , Chief Executive Officer, San Francisco 49ers. "As we strive to create a sports and entertainment venue that embodies all that is special about the Bay Area and Silicon Valley, it is fitting that SunPower, with its global headquarters less than two miles from the new stadium, will be providing us with its high-efficiency solar panels."

"SunPower is excited to have the opportunity to help power the new stadium with clean, reliable solar power, and to join the 49ers in a commitment to top performance, whether it is on the football field or in the solar market," said Tom Werner , president and CEO, SunPower. "This is an ideal partnership for SunPower, as we deliver the world's highest-efficiency solar panels for the new iconic, state-of-the-art facility."

About the new Santa Clara Stadium
The Santa Clara stadium will not only be the new home to the San Francisco 49ers, but it will also serve as one of the world's best outdoor sports and entertainment venues.  It was designed by HNTB and is being built by Turner/Devcon. The $1.2 billion venue will have 1.85 million square feet, seat approximately 68,500 and will feature an expected 165 luxury suites and 9,000 club seats.  It was designed to be a multi-purpose facility with the flexibility to host a wide range of events, including domestic and international soccer, college football, motocross, concerts and various civic events, and will be expandable for major events such as the Super Bowl.  For more information, go to www.newsantaclarastadium.com.

About SunPower Corp.
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 the San Francisco 49ers
The San Francisco 49ers, owned by Denise and John York , currently play in the NFC West division and have won five Super Bowl trophies including Super Bowl XVI, XIX, XXIII, XXIV and XXIX.  The franchise also has six conference championships and 19 divisional championships and was the first major league professional sports franchise to be based in San Francisco over 60 years ago. Please visit www.49ers.com and follow the 49ers on Facebook and Twitter @49ers.

SunPower Plan to Streamline Manufacturing Operations, Lower Costs and Improve Efficiency

SAN JOSE, Calif., Oct. 16, 2012 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR) today announced a reorganization plan to restructure its Philippines manufacturing operations and reduce its workforce.

As part of this initiative, the company will temporarily idle six of the 12 lines in its Fab 2 cell manufacturing plant and 20 percent of panel manufacturing in the Philippines to significantly reduce inventory, lower operational costs and improve efficiency. As a result, the overall blended utilization for the fourth quarter will be approximately 60 percent.  Additionally, the company will reduce its workforce by approximately 900 employees with the reductions occurring primarily in the Philippines.

"Industry conditions continue to be challenging and while it is never an easy decision to reduce positions, we must make prudent decisions to effectively compete in an industry with significant overcapacity. Additionally, we'll further our efforts to reduce costs and improve operational efficiencies," said Tom Werner , SunPower chief executive officer and president.  "With this aggressive reorganization plan, SunPower is well positioned to lead the solar market due to our world leading technology and products, significant downstream presence in multiple end segments and ability to open new market opportunities."

The company continues to make strong progress on its cost reduction roadmap and remains committed to reaching its cost per watt goal of less than $0.75 per watt on an efficiency adjusted basis for SunPower's lowest cost solar panels by the end of 2012. The company's previously disclosed Fiscal Year 2012 earnings guidance remains unchanged. SunPower will provide additional details on its strategic initiatives during its third quarter 2012 earnings conference call on Nov. 1, 2012.

SunPower expects to record restructuring charges totaling $10 million to $17 million, composed of severance benefits, lease and related termination costs and other associated costs, the majority of which will likely be in the fourth quarter 2012. The company expects that greater than 90 percent of these charges will be cash.

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.