SunPower Corp. SPWR has started construction of Boulder Solar, a 100-megawatt (MW) AC solar power plant in the Eldorado Valley of Boulder City, NV.
The company is constructing the Boulder Solar power plant, which is expected to be operational in 2016, on approximately 600 acres of land. The land is being leased to SunPower under a long-term lease agreement.
NV Energy will be purchasing the solar power from the Boulder Solar plant under a 20-year power purchase agreement with SunPower. The solar project will likely generate enough electricity to serve over 60,000 homes during daylight hours as well as create approximately 200 jobs during the construction phase.
Earlier this year, SunPower acquired the project from an independent power producer and a subsidiary of Korea Midland Power, KOMIPO America. It operates 14 gigawatts of generating capacity worldwide and will also be taking part in the construction and operation of the project.
San Jose, CA-based SunPower is building a SunPower Oasis Power Plant system at the site with an advanced technology comprising robotic solar panel cleaning capability. The technology uses 75% less water than traditional cleaning methods and can help improve system performance by up to 15%.
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. The company is one of the most forward-integrated solar companies, having over a decade-long experience in designing, manufacturing and supplying large-scale solar systems.
To tap the growing demand for solar products, SunPower has already undertaken several initiatives to strengthen its existing operations and scale up production volumes. SunPower’s customer base is spread across North America, Europe, the Middle East and Asia. The company is proactive in entering new markets, like those of England, Greece, Israel and Malta.
Zacks Rank
SunPower has a Zacks Rank #2 (Buy). Some of the other favorably ranked stocks in the solar space include JA Solar Holdings Co. Ltd. JASO, ReneSola Ltd. SOL and First Solar Inc. FSLR. While JA Solar and ReneSola hold a Zacks Rank #1 (Strong Buy), First Solar carries the same Zacks rank as SunPower.
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