SunPower Corp. (Nasdaq: SPWRA, SPWRB) has recently announced that, under a strategic supply agreement, Toshiba Corporation (TOKYO: 6502) will order 32 megawatts of high-efficiency solar panels from SunPower in 2010. The SunPower panels will form the cornerstone of Toshiba’s new residential solar offering in Japan, to be launched on April 1.

"We welcome the opportunity to partner with Toshiba, a preeminent business leader in Japan and throughout the world," said SunPower CEO Tom Werner. "SunPower panels are particularly well suited to Japan’s residential market, where the new Japanese feed-in-tariff rewards production of solar energy in excess of domestic consumption, but available roof area is typically quite small. SunPower high efficiency systems will allow more customers to take advantage of this incentive."

"Toshiba’s residential solar power business will offer homeowners the most efficient solar power systems available, with a focus on quality and reliability," said Shoji Takenaka, chief technology executive of Transmission Distribution & Industrial Systems Company, Toshiba Corporation. "We are very pleased to work with SunPower, as their solar photovoltaic panels achieve high levels of performance and reliability, and their excellent efficiency supports space-saving solutions that directly meet the needs of consumers in Japan."

SunPower almost doubled production of its high-efficiency solar cells and panels from 2008 to 2009, with 2009 cell production of approximately 400 megawatts. In 2010, the company intends to expand production further with new manufacturing operations in Malaysia, the United States and Europe.

About SunPower

Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet’s most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company’s experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.

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