SunPower Corp. (Nasdaq: SPWRA) has signed an agreement with Sunshire, S.r.l., a subsidiary of Api Nova Energia S.r.l., to design and build a 2.2-megawatt (MW) solar electric power plant in Tolentino, Italy.
This is the first solar power plant agreement to be announced on behalf of SunPower’s Italian subsidiary, SunPower Italia S.r.l. The project, which will be financed by regional banks via a leasing agreement, is the first phase of a planned 7.1-MW development that is expected to be completed this year.
SunPower has installed more than 400 MW of large-scale solar power systems globally, including more than 185 MW of power plants in Europe.
California Solar Power Installation
In a separate release, SunPower Corp., GE (NYSE: GE), California’s Lake County and the Lake County Sanitation District (LACOSAN) announced the completion of a 2.2-MW solar-electric power system on three sites, including the county jail and two wastewater treatment plants.
Combining this new system with an existing 1-MW solar power installation, Lake County is now home to the largest solar power installation on county facilities in California. The combined 3.2-megawatt system produces the equivalent of 94% of the facilities’ electricity requirements.
"We expect these solar power installations to save Lake County taxpayers and ratepayers between $1.6 million and $5 million over the next 20 years, depending on utility rate increases," said Mark Dellinger, special districts administrator for LACOSAN.
GE Energy Financial Services, a unit of GE, in partnership with SunPower, financed and owns the system as well as the associated renewable energy credits and environmental benefits.
Under a SunPower Access(TM) power purchase agreement (PPA), the partnership is selling electricity to the County and LACOSAN at rates that are competitively priced against utility rates.
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