North Coast Solar Stocks

February 14, 2008

SunPower Announces 3-Gigawatt Silicon Supply Agreement with Jupiter, Qingdao DTK Industries Co., Ltd.

Filed under: SPWR — Tags: , , — Jason @ 10:00 am

SAN JOSE, Calif., Feb 14, 2008 /PRNewswire-FirstCall via COMTEX News Network/ — SunPower Corporation (Nasdaq: SPWR), a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, today announced that it has signed a multi-year polysilicon supply agreement with Jupiter Corp., Ltd., a sales office of Qingdao DTK Industries Co., Ltd. (Jupiter, Qingdao DTK), a corporation based in China.

Starting in 2010 and continuing through 2016, SunPower has contracted to purchase increasing volumes of polysilicon from Jupiter, Qingdao DTK. The agreement will provide polysilicon volumes sufficient to manufacture more than 3 gigawatts of solar cells based on SunPower’s expected silicon utilization during this period. Jupiter, Qingdao DTK will build a new polysilicon manufacturing facility in Qingdao, China, in order to produce the polysilicon that will be supplied under the terms of this agreement.

“SunPower is pleased to partner with Jupiter, Qingdao DTK as it extends its expertise into polysilicon manufacturing,” said Tom Werner, CEO of SunPower. “Jupiter, Qingdao DTK will provide polysilicon to our ingot suppliers, supporting our drive to scale rapidly and cost-effectively to meet the demand for our high-efficiency solar systems.”

“We are looking forward to our new partnership with SunPower that will help build a cleaner environment for future generations,” said Indi Sohal, CEO of Jupiter and Qingdao DTK Industries. “We share SunPower’s vision to expand the solar industry and make it the premier renewable energy choice. Jupiter, Qingdao DTK is excited to support SunPower’s vision and to build a low cost polysilicon manufacturing solution in China.”

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