San Jose, CA /PRNewswire/ - SunPower (NASDAQ:SPWR) today announced that it is supplying its high efficiency solar panels for the Sonnedix 46.6-megawatt (MW) Tono project in Iwate prefecture, Japan. Construction on the site is currently underway, with commercial operation expected in early 2020.
The Tono project was developed, and will be asset-managed and operated by Sonnedix Japan on behalf of Sonnedix Power Holdings Limited, an Independent Solar Power Producer (IPP) with a proven track record of delivering high performance, cost competitive solar photovoltaic (PV) plants around the world. Sonnedix Power Holdings Limited now has 211 MW of solar in operation or under construction in Japan, with more than 93 MW featuring SunPower® solar technology.
The Tono project, which NEC Networks and System Integration Corporation is contracted to construct, will use a fixed-tilt ground mount system and feature SunPower® E-Series 435-watt solar panels that offer efficiencies in excess of 20 percent. Compared to conventional solar panels, SunPower® E-Series panels produce up to 36 percent more power per panel, and 60 percent more energy per square foot over 25 years.
When complete, the Tono project is expected to generate over 53,000 megawatt hours of clean energy annually, equivalent to the amount of electricity consumed by approximately 17,650 households.
"Customers like Sonnedix Japan rely on SunPower's high performance solar panels to deliver long-term value over the life of their systems," said SunPower Executive Vice President Peter Aschenbrenner. "And with SunPower solar panels backed by our industry-leading 25-year warranty, this significant project will offer high power and product quality for a quarter century or more."
SunPower has operated in Japan since 2009, providing residential, commercial and power plant customers with high performance solar solutions well-suited to the Japanese market. With the completion of the Tono project, SunPower will have supplied more than one gigawatt of panels to solar projects in Japan.
As one of the world's most innovative and sustainable energy companies, SunPower Corporation (NASDAQ:SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.
About Sonnedix Japan
Sonnedix Japan is a developer, asset manager, and operator of mega-solar projects in Japan, and the Japanese operator for investments made by Sonnedix Power Holdings Limited (Sonnedix), an Independent Solar Power Producer (IPP) with a proven track record delivering high performance, cost competitive solar photovoltaic plants around the world.
SunPower Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding project plans, product performance, and expected energy output. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: regulatory changes and the availability of economic incentives promoting use of solar energy, competition and market conditions in the solar and general energy industry, and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpower.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.
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