SunPower Corp. (SPWRA) has been awarded a contract to design, build, operate, and maintain a solar park in Dover, Delaware. SunPower will construct the 10-megawatt Dover SUN Park for White Oak Solar Energy, L.P., a wholly owned subsidiary of LS Power Group.
The 103-acre solar park will be equipped with SunPower Tracker systems along with the most efficient SunPower E19 solar panels. Through this solar park, White Oak expects to deliver emission-free solar power to the regional utility grid operated by the city of Dover. The company expects to begin operating the park by next summer.
White Oak plans to sell the energy from the Park through long-term agreements with the City of Dover, Delmarva Power and Light, Delaware Municipal Electric Corporation and the Delaware Sustainable Energy Utility.
Headquartered in San Jose, California, SunPower designs, develops, manufactures, markets and sells high-performance solar electric power technology products, systems and services worldwide for residential, commercial and utility-scale power plant customers. SunPower’s customer base is spread across North America, Europe, the Middle East, Asia and Australia .
The fundamentals of SunPower appear strong, given the revival of the alternative energy industry and specifically solar power energy, higher captive generation of panels, rising average conversion efficiency, focus on solar projects, improving solar cell and panel production overheads, capacity expansions and low cost manufacturing base.
SunPower’s sun-tracking technology can be easily installed and proves to be a reliable source of clean power during peak demand periods, making solar a competitively-priced choice for power plant applications. Looking ahead, we expect SunPower to establish itself as the leader in high performance solar power products.
Furthermore, SunPower’s geographically-diversified opportunities appear solid given the very high growth potential in the alternative energy industry, rising average conversion efficiency, the focus on solar projects, improving solar cell and panel production overheads, capacity expansions and its low cost manufacturing base.
We currently have a long-term Neutral rating on the stock. SunPower retains its short-term Zacks #3 Rank (Hold).
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