SunPower Corp. (Nasdaq: SPWRA; SPWRB) has signed a multi-year solar panel manufacturing agreement with Jabil Circuit, Inc. (NYSE: JBL), to begin maufacturing solar panels for SunPower in Mexico in the second half of 2009.
SunPower said the deal is part of long-term strategy to cut costs. The company also said it will continue to evaluate establishing localized manufacturing facilities in large solar markets in the U.S.
Separately, Jabil will collaborate with SunPower in the company’s participation in the Solar America Initiative (SAI), a U.S. Department of Energy effort to accelerate the development of advanced solar energy technologies. SunPower has participated in the initiative since September 2007. SunPower and Jabil said they will evaluate establishing manufacturing locations in the U.S.
"We are in the process of ramping production capacity to manufacture solar panels in Europe and North America for customers in those markets," said Brian Althaver, Jabil’s vice president for strategic development. "This agreement gives us the opportunity to use our capabilities as a global manufacturer to provide a responsive, reliable and cost effective manufacturing solution in close proximity to solar markets."
Jabil has more than 85,000 employees and facilities in 22 countries.
SunPower recently annouced plans to sell shares, following an unexpected loss in 1Q09.
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