OKLAHOMA CITY and SAN JOSE, Calif., July
18, 2017 /PRNewswire/ -- OGE Energy Corp. (NYSE: OGE)
electric utility subsidiary Oklahoma Gas & Electric Company
(OG&E) and SunPower Corp. (NASDAQ:SPWR) today announced the two
companies have signed a contract to build a 10-megawatt (AC) solar
photovoltaic power plant in Covington,
Okla. Construction on the plant is anticipated to commence
next month.
"The Covington project is a
continuation of our successful pilot initiative, which launched
with 2.5-megawatt solar facility in Mustang, Oklahoma, in 2015," said OG&E
Chief Operating Officer Keith
Mitchell.
SunPower will design and build a SunPower® Oasis® Power Plant
system at the Covington site. The
Oasis system is a complete power plant solution that installs
quickly to maximize value for customers. Product features include
50 percent fewer parts than conventional solar plant systems, an
integrated solar tracker design that streamlines construction and
reduces operations and maintenance costs, and cost-effective, high
efficiency SunPower P-Series solar panels, which produce more
energy than conventional solar panels over the lifetime of the
system.
"At the 80-acre site, SunPower Oasis Power Plant technology and
SunPower P-Series solar panels will optimize the cost-competitive
solar power generated for OG&E customers," said Tom Werner, SunPower president and CEO. "We
commend OG&E for its commitment to including solar in its
energy mix, and for selecting high performance SunPower technology
to ensure reliable, long-term return on investment."
SunPower will provide operations and maintenance services once
the plant begins commercial operation, which is expected in early
2018.
The Covington solar plant is
anticipated to generate enough electricity to serve the needs of
over 1,000 average Oklahoma homes,
based on estimates provided by the Solar Energy Industries
Association.
OG&E will own the renewable energy credits associated with
the system.
About OG&E
Oklahoma Gas & Electric Company, a subsidiary of OGE Energy
Corp. (NYSE: OGE), is Oklahoma's
largest electric utility. For more than a century, we have provided
customers in Oklahoma and western
Arkansas the safe, reliable
electricity needed to power their businesses and homes at rates
below the national average. Our employees are committed to
generating and delivering electricity, protecting the environment
and providing excellent service to our more than 836,000 customers.
OG&E has 6,700 MW of electric generation capacity fueled by
low-sulfur coal, natural gas, wind and solar. OG&E is
recognized as a leader in smart grid technology, leveraging this
platform to provide customers with the award-winning SmartHours®
program and setting the stage for an electric vehicle program that
will include some level of public charging infrastructure, and
advanced LED street and security lighting. OG&E employees live,
work and volunteer in the communities we serve. For more
information about OG&E, visit us on the Internet
at http://www.oge.com or follow us on
Facebook: www.facebook.com/ogepower and Twitter:
@OGandE.
About SunPower Corp.
As one of the world's most innovative and sustainable energy
companies, SunPower Corporation (NASDAQ:SPWR) provides a diverse
group of customers with complete solar solutions and services.
Residential customers, businesses, governments, schools and
utilities around the globe rely on SunPower's more than 30 years of
proven experience. From the first flip of the switch, SunPower
delivers maximum value and superb performance throughout the long
life of every solar system. Headquartered in Silicon Valley,
SunPower has dedicated, customer-focused employees
in Africa, Asia, Australia, Europe, North
and South America. For more information about how SunPower is
changing the way our world is powered, visit www.sunpower.com.
SunPower's Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, statements regarding expected
project timelines, relative generating capacity, and projected
energy output. These forward-looking statements are based on our
current assumptions, expectations, and beliefs and involve
substantial risks and uncertainties that may cause results,
performance, or achievement to materially differ from those
expressed or implied by these forward-looking statements. Factors
that could cause or contribute to such differences include, but are
not limited to: regulatory changes, challenges inherent in
constructing and maintaining certain of our large projects, and
fluctuations or declines in the performance of our solar panels and
other products and solutions. A detailed discussion of these
factors and other risks that affect our business is included in
filings we make with the Securities and Exchange Commission (SEC)
from time to time, including our most recent reports on Form 10-K
and 10-Q, particularly under the heading "Risk Factors." Copies of
these filings are available online from the SEC or on the SEC
Filings section of our Investor Relations website at
investors.sunpowercorp.com. All forward-looking statements in this
press release are based on information currently available to us,
and we assume no obligation to update these forward-looking
statements in light of new information or future events.
©2017 SunPower Corporation. All Rights Reserved.
SUNPOWER, the SUNPOWER logo, and OASIS are registered trademarks of
SunPower Corporation in the U.S. and other countries as well.
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SOURCE SunPower Corp.