Upon Completion, the Site Will Be One of the Largest
Rooftop Solar Installations in Europe
SINGAPORE, June 4, 2021 /PRNewswire/ -- Maxeon Solar
Technologies, Ltd. (NASDAQ:MAXN), a global leader in solar
innovation and channels, today announced a major new flagship
installation. The advanced solar technology from Maxeon will be
powering the newly constructed international logistics hub of the
global luxury group Kering, which manages the development of a
series of renowned Houses in Fashion, Leather Goods, Jewelry and
Watches. Upon completion, planned by August 2021, the installation located in Trecate,
Northern Italy, is believed to be
one of Europe's largest rooftop PV
systems, with a peak output of 12.7 megawatts (MW).
The Trecate rooftop array, planned to be installed on two
adjacent buildings, will cover more than 55,160 square meters in
total. With over 31,000 SunPower brand solar panels providing a
total of 12.7 MWp on completion, Maxeon estimates that the
installation will supply over 13.5 GWh of clean electricity and
mitigate more than 7,500 tons of carbon dioxide emissions annually.
The hub is designed to be energy positive, generating more energy
than it will consume.
"We are particularly happy to see this massive rooftop solar
system becoming a reality, with companies that share a vision for
high-quality sustainable living coming together," said Mark Babcock, Chief Revenue Officer at Maxeon
Solar Technologies. "With the new hub functioning 24/7 and
consuming a substantial quantity of electricity, choosing the most
powerful technology was a top factor for the success of the
project. Kering recognized the importance of superior quality,
long-term reliability and greater energy yield from their solar
panels, identifying our Maxeon line as the premium product to power
them in this breakthrough site for decades to come."
The SunPower Premier Partner Kennew, with headquarters in
Bergamo, Italy, was selected by
sustainable building developer and general contractor, Techbau, to
design and install the solar system featuring SunPower Maxeon solar
panel technology.
"This is one of Europe's most
powerful solar roofs, and is just the latest in a rich portfolio of
commercial solar projects that came to light thanks to our solid
collaboration with Maxeon as an advanced-solar technology
supplier," said Daniele Botti, managing director and co-owner
of Kennew. "The customer had specific requirements that SunPower
Maxeon panels were able to meet, offering a number of advantages
such as maximized performance in a given amount of roof space over
a long period of time, field-proven reliability, best-of-breed
durability and an industry-leading 25-year warranty on product and
power."
In addition, Botti cites the panel efficiency of the SunPower
Maxeon line as one of its key benefits, with a module efficiency of
up to 22.6% and the lowest degradation rate in the solar industry.
He added, "With a warranted maximum yearly power degradation of
0.25%, we believe that SunPower Maxeon modules offer clear
advantages to make the most out of the rooftop space over time. In
year 25, they are warranted to continue to deliver at least 92% of
their original nameplate power for the logistic hub's purposes.
After this time, we expect them to keep producing, as Maxeon
designs its panels for a 40-year useful life."
Commenting on the exceptional sustainability of the site,
Lindsey Wiedmann, Chief Legal
Officer and ESG Lead at Maxeon Solar Technologies, said: "Once
finished, the shell, core warehouses and the offices will be
LEED-certified and are expected to achieve a Platinum rating – with
this hub thus becoming the first LEED Platinum certified warehouse
in Europe. Thanks to their
prestigious Cradle to Cradle Certified - Bronze™ designation, the
SunPower Maxeon panels could contribute more to the project's LEED
points and sustainability goals than other conventional panels
available on the market."
"Our joining forces with Kennew and Techbau is a great example
of collaborating to deliver a first-class commercial solar solution
that paves the way for a carbon-neutral future for the customer,"
added Babcock. "Through innovation and cutting-edge technologies,
we can work together to grasp opportunities head-on and create the
sustainable energy world of tomorrow, hopefully with more projects
of this kind that drive the energy transition forward."
Find out more about the leading efficiency and added value
offered by Maxeon Solar Technologies here. To know more about
Maxeon's LEED advantages, click here.
About Maxeon Solar Technologies
Maxeon Solar
Technologies (NASDAQ:MAXN) is Powering Positive Change™.
Headquartered in Singapore, Maxeon
designs and manufactures Maxeon® and SunPower® brand solar panels,
and has sales operations in more than 100 countries, operating
under the SunPower brand in certain countries outside the United States. The company is a leader in
solar innovation with access to over 1,000 patents and two
best-in-class solar panel product lines. Maxeon products span the
global rooftop and solar power plant markets through a network of
more than 1,200 trusted partners and distributors. A pioneer in
sustainable solar manufacturing, Maxeon leverages a 35-year history
in the solar industry and numerous awards for its technology. For
more information about how Maxeon is Powering Positive Change™
visit us at www.maxeon.com, on LinkedIn and on Twitter
@maxeonsolar.
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 the timing and the company's
expectations of success and profitability in its planned projects
in existing and in new markets; our technology outlook, including
anticipated efficiencies of our modules, continued success in
technological innovations, delivery of products with features
customers demand, and future performance of our modules; and the
company's strategic goals and plans, including relationships with
existing customers, suppliers and partners, and our ability to
maintain them. 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. 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 report on Form 20-F, particularly under the heading "Item
3.D. Risk Factors." Copies of these filings are available online
from the SEC or on the Financials & Filings section of our
Investor Relations website at
www.maxeon.com/financials-filings/sec-filings. 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.
© 2021 Maxeon Solar Technologies, Ltd. All Rights Reserved.
MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd.
Visit www.maxeon.com/trademarks for more information.
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