SunPower Company Updates: Agreement with Japanese Shimizu Corporation

SunPower company updates: SunPower Corporation (NASDAQ:SPWRhas announced an agreement with the Japanese architectural firm, Shimizu Corporation (TYO:1803). The accord concerns the provision of solar panel technology to the Eurus Energy solar power plant project in the city of Rokkasho, in the north eastern Aomori Prefecture (Japan).

SunPower Corporation (NASDAQ:SPWR)

With this deal, SunPower consolidates its position as one of the main suppliers of clean and non-conventional energy. The firm continues to accumulate projects across the world, including, recent announcements about participation in Projecto Salvador in Chile and another Japanese solar power plant project in Toyokoro, Hokkaido, owned by Eurus Energy Group.

SunPower will provide Eurus a solar power plant with 69 megawatts E20/327 solar panels. This kind of technology fits appropriately to Japanese natural conditions, particularly, to resist earthquakes and tsunamis, thanks to its solid construction and the durable materials of which the panels are made of.

Japan has become a great market for alternative energy due to recent and catastrophic events related to the nuclear power plant of Fukushima. According to Howard Wenger, SunPower president, “The Japanese market continues to respond well to our high efficiency solar products for all customer segments — residential, commercial and utility-scale.”

The firm has branded its solar panels technology under the Maxeon Solar name, especially to penetrate in the alternative energy market in Japan. As many experts said, the country needs to increase energy supply in the nearest future, due to the progressive closing of several nuclear power plants, the main source of energy in this country for decades.

Former Japanese Prime Minister Junichiro Koizumi said yesterday that Japan needs to eliminate nuclear power plants immediately, and incited public opinion to support this perspective. This situation could be beneficial for Sun Power’s businesses in Japan, since the firm is already supplying power plants with its technology, profiting from governmental subsidies to alternative energy suppliers. Check back here for more SunPower company updates.

Disclosure: Saul Rodriguez holds no position in any of the mentioned stocks.

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