SunPower Corporation (NASDAQ:SPWR), a provider of solar energy, was recently awarded a tender to supply the E-series solar panels to large-scale renewable power projects in France. The total production capacity of the high efficiency solar panels will be 130 megawatts. Carports and ground-mounts are some of the solar projects that the panels from SunPower will be installed in.
“We are proud to be the leading provider of solar panels for the solar projects announced in this first tender round and to play a key role in promoting the use of clean, renewable solar power in France,” the Executive Vice President of SunPower, Eduardo Medina said.
Primary provider
Approximately 31% of the solar panels that will be required in the project will be supplied by SunPower making the renewable energy firm the primary provider. In total there will be 25 solar projects in this tender round.
The E-Series solar panels converts the highest percentage of solar energy into electrical power resulting in more electricity generated in comparison with other technologies. The E-Series panels also have from low degradation levels and this has been validated in performance tests conducted by third parties.
SunPower’s E-Series solar panels are manufactured primarily in France and Mexico at the company’s assembly plants located there. Majority of the solar panels that will be supplied to France for this project will be produced in SunPower’s facility in Toulouse.
Clean energy drive
With the drive towards clean energy gaining momentum around the world and with the fact that fossil fuels are finite resources, SunPower should continue to see demand for its products. Among the clean sources of energy, wind and solar are proving to be the most popular at the moment.
To capture an even larger market, SunPower has been involved in expansion efforts which has seen it look beyond the domestic market of the United States. Some of the new markets that SunPower has established a footprint include Malta, Israel, France, Greece and England.
On Wednesday shares of SunPower Corporation ranged between $5.84 and $6.22 to close the day at $6.19.
