SunPower reports construction progress on U.S. solar projects

SunPower Corp. (NASDAQ: SPWR) President and CEO Tom Werner reported in a May 5 earnings statement covering the first quarter of this year that the company is making progress on several solar projects.

“In our power plant business, consistent with our strong, historical delivery execution, we continued construction on a number of key U.S. projects slated for completion during the second half of 2016, including our 100-megawatt (MW) project for NV Energy, the 102-MW Henrietta power plant and our 68-MW project for Stanford University,” said Werner. “Additionally, we achieved commercial operation on our 50-MW Hooper project for Xcel Energy, a project currently owned by 8point3 Energy Partners.”

Henrietta and Stanford are located in California, while the NV Energy project is in Nevada. Henrietta is due for commercial operation in the third quarter of this year, while Stanford and NV Energy are due to go commercial in the fourth quarter of this year.

“SunPower also achieved notable international success during the first quarter when we were awarded approximately 500-MW of power purchase agreements in Mexico’s first electricity auction,” Werner added. “This award comprised approximately 25 percent of the awarded solar capacity, or around 20 percent of the entire awarded energy across all resources, and demonstrates the increasing cost competitiveness of wholesale solar power versus competing technologies.

“We also expect to begin construction of our second solar power plant project in Chile later this year with a capacity of approximately 100-MW. With a pipeline of more than 2.5 gigawatts (GW) in Latin America and more than 14-GW globally, we see significant long term opportunity in the power plant segment.”

SunPower provides a diverse group of customers with complete solar solutions and services. Headquartered in Silicon Valley, SunPower has employees in Africa, Asia, Australia, Europe, and North and South America.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.