SAN JOSE, Calif., July 23, 2020 /PRNewswire/ -- Maxeon Solar
Technologies, the planned spin-off from SunPower Corp.
(NASDAQ:SPWR), has raised the bar for the solar industry with its
new line of bifacial SunPower® Performance 5 panels, the
fifth-generation performance solar panels designed specifically for
large-scale power plant applications. These panels represent the
latest chapter in the company's legacy of shingled cell panel
technology leadership that is now protected by more than 144
patents and patent applications. Performance 5 panels will be
commercialized and begin delivery in the fourth quarter of
2020.
SunPower Performance 5 panels are engineered to meet the needs
of large-scale, multi-megawatt solar power plants, and leverage the
company's extensive experience in designing, developing, building
and operating more than five gigawatts (GW) of solar power plants
across the globe. Among the first products to utilize bifacial
mono-PERC solar cells made on large format eight-inch G12 wafers,
the new Performance 5 panels offer industry-leading efficiency of
over 21 percent along with enhanced shade tolerance and
unparalleled durability to reduce system lifetime energy cost. With
power ratings of up to 625 watts, these high-power panels are
uniquely suited for the needs of power plant developers, maximizing
energy production within available space.
"SunPower has more than three decades of innovation,
including a history in the power plant segment – from the
pioneering 10 megawatt (MW) Bavaria Solar One Project in 2004 to
the 349 MW Australia Limondale project in 2020," said Jeff Waters, CEO of Maxeon. "Our release of the
new SunPower Performance 5 panels comes along with a renewed
commitment to large-scale installations supported by significant
manufacturing capacity scale-up of shingled cell panel technology
by our Huansheng Photovoltaic (HSPV) joint venture in China. This expansion is highly capital
efficient and will reinforce Maxeon's leadership and reach as a
premier supplier of levelized cost of energy-optimized panels into
the large, mainstream utility-scale markets."
Long-time partner and future Maxeon investor Tianjin Zhonghuan
Semiconductor Co. (TZS) recently announced an ambitious expansion
program for the HSPV joint venture, with the implementation of
three GW "smart fabs" at sites in both Yixing and Tianjin. HSPV capacity is planned to be
increased from two GW to eight GW by 2021, with the first new
facility planned for full ramp by the end of 2020.
The new SunPower Performance 5 panel will be publicly introduced
and showcased during the TaiyangNews virtual conference, "500 W+
Solar Modules - How to Boost PV Panel Power to the Next Level", on
July 29 and 30. To learn more about
SunPower Performance proven technology for Solar Power Plants and
our latest technical innovations, please visit our website.
About SunPower
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.
About Maxeon Solar Technologies
Maxeon Solar
Technologies is Powering Positive Change™. Headquartered in
Singapore, Maxeon designs,
manufactures and sells SunPower brand solar panels across more than
100 countries. Maxeon is the leader in solar innovation with access
to over 900 patents and two best-in-class solar panel product
lines. With operations in Africa,
Asia, Oceania, Europe and the Americas, Maxeon Solar
Technologies products span the global rooftop and solar power plant
markets through a network of more than 1,100 trusted partners and
distributors. Maxeon is the exclusive supplier of solar panels to
California-based SunPower
Corporation, from which it will be spun off in 2020. 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 Solar Technologies is Powering
Positive Change™ visit maxeon.com.
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 our business plans and
strategies, product commercialization plans, anticipated product
performance and cost savings. These forward-looking statements are
based on our current assumptions, expectations, and beliefs and
involve substantial risks and uncertainties that may cause results
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 and the availability of economic incentives promoting use
of solar energy, our ability to manage our joint venture and other
strategic relationships, 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 Form 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.
© 2020 SunPower Corporation. All Rights Reserved. SUNPOWER and
the SUNPOWER logo are registered trademarks of SunPower Corporation
in the U.S. and other countries as well.
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SOURCE SunPower Corp.