Enfinity, a developer of renewable energy projects, has entered into a framework agreement with SunPower Corporation for solar electric power plant projects totaling more than 25 megawatts. The installations contemplated under this agreement will be built as from 2008 till 2009 by SunPower in Italy and are contingent on Enfinity to secure financing and construction permits for the projects. Sunpower and Enfinity are in discussion to expand their collaboration to include additional solar projects in Spain, Greece and other countries worldwide.

"I am very pleased to announce this framework agreement with Sunpower. We consider this as a strategic partnership in the further development of our solar business," commented Mr. Gino Van Neer, CEO of Enfinity. "We are teaming with Enfinity to deliver clean, reliable solar power to the rapidly expanding market in Southern Europe," said Howard Wenger, SunPower senior vice president. "By using SunPower's industry-leading solar technology, Enfinity will maximize the energy delivery at their power plant sites, while optimizing land use and reducing related costs."

SunPower has completed solar power plants projects in Asia, North America and Europe, including more than 55 megawatts completed or in construction in Spain.

Source: Enfinity and SunPower Corporation

SunPower Corporation announced yesterday that it has produced a full-scale, five inch prototype solar cell with an efficiency of 23.4 percent. This is a world-record for a large area solar cell. SunPower has reported improvements of its cell efficiency in the laboratory and in mass production since its first all-back contact solar cell prototype in 2003. "This is a step function increase from our 22 percent efficient Gen 2 technology, which has been in mass production since last year," said Tom Werner, CEO of SunPower Corp. "Credit for this achievement goes to our world- class research and development team led by Dick Swanson and Bill Mulligan, as well as to our talented engineering group."

"We are pleased to have demonstrated early success with our Gen 3 technology," said Bill Mulligan, vice president of technology and development at SunPower Corporation. "This record efficiency solar cell, which is expected to be commercially available in approximately two years, extends SunPower's leadership position and is a key component of our plan to reduce system cost by 50 percent by the year 2012."

Source: SunPower Corporation