SunPower Corporation (NASDAQ:SPWR) To Supply Additional 41 MW Solar Panels To La Compagnie du Vent

Christine Lawrence - October 13, 2014

Boston, MA 10/13/2014 (wallstreetpr) – SunPower Corporation (NASDAQ:SPWR) will be supplying 41 MW of solar panels to GDF Suez subsidiary, La Compagnie du Vent.

According to a press release, the company will be providing solar panels to the French utility GDF Suez’s subsidiary. The sale is aimed at assisting La Compagnie du Vent’s plan to construct four solar power plants in the country. The installations will be a part of a national tender scheme which is leveraged by the French Energy Regulatory Commission.

Successful Joint Venture

SunPower Corporation (NASDAQ:SPWR) announced that the first project to be developed under the program was the 12 MW Langele solar power plant. It was built earlier in the month and was contributed to France’s Aquitaine area. SunPower and La Compagnie du Vent have been working together since 2012. At the time, SunPower had delivered a 4MW power plant for the Aghione, Corsica region. As of now, the additional 41 MW of solar power, which is emission-free, is intended to provide energy for commercial and private use in the country. SunPower Corporation (NASDAQ:SPWR)’s Executive VP, Jorg Heinemann, said over 1,500 MW of solar plants worldwide are dependent on the company’s technology. It offers high-performance solar panels which allow developers to expand production and earn returns on their investments for over 25 years.

Estimates And Plans

La Compagnie du Vent seeks to produce 17,500,000 kWh of energy from the Langele solar power plant annually. The company estimates that this amount of energy can power and meet the electricity demands of around 9,700 people living in the area. According to the 2011 estimates of the Reseau de Transport d’Electricite, the plant can offset as much as 14,000 tons of emission of carbon dioxide per annum.

Apart from the Langele power plant, SunPower Corporation (NASDAQ:SPWR) will be supplying solar panels for three other projects of the company. The companies aim to complete the construction, and start the operation of the plants latest by the end of 2015.

Christine Lawrence

Christine Lawrence is a financial analyst. She loves analyzing socioeconomic trends in the background of financial moves. She has overall seven years of experience in Auditing, Finance and Writing.

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