SunPower Corp. (Nasdaq: SPWR), a manufacturer of high-efficiency solar cells, solar panels and solar systems, announced that its Spanish subsidiary will design and construct an 18-megawatt (MW) Olivenza solar electric power plant in the Badajoz region of Spain.
SunPower will debut its proprietary SunPower® T20 Tracker solar tracking system in Europe at the 70-hectare site. The Tracker follows the sun as it moves across the sky, delivering up to 30% more energy than fixed-tilt systems while reducing installation cost per kilowatt.
Olivenza is financed by a consortium of institutions, including AIG Financial Products Corp., a subsidiary of American International Group, Inc. and a principal investor in the energy and infrastructure sectors, and 360 CORPORATE, a Spanish principal investor in the energy and infrastructure sectors, as equity investors.
This project will expand SunPower’s footprint in Spain to more than 100 megawatts under contract. Construction is expected to be complete in the spring of 2008.
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