DoverSUN Park, designed and built by SunPower Corporation (SPWRA), began its operations and started delivering solar power to the local utility distribution grid. In 2008, City of Dover had selected LS Power to plan and develop the largest solar panel project in the Northeastern United States. However, LS Power in turn hired SunPower to build the facility. LS Power, a subsidiary of Dynegy Inc. (DYN), is a power generation and transmission group with a proven track record of successful development activities, operations management and commercial execution.
Armed with the most efficient E20/327 Solar Panel, Dover SUN Park has in place the SunPower Tracker systems at its 103 acre site. The Tracker follows the sun's movement during the day and increases the capability to capture sunlight by up to 25% over conventional fixed-tilt systems. SunPower technology is fast to install, offers guaranteed performance, and is a competitively priced choice for power plant applications.
During the six-month construction phase, Dover SUN Park purchased local materials and services and created jobs with 80% of the positions filled by Delaware residents. The system has the capacity to generate electricity to supply power to more than 1,500 Delaware homes. It is economically friendly and will offset more than 12,000 tons of carbon dioxide emissions each year.
City of Dover, Delaware Municipal Electric Corporation, Delmarva Power, and the Delaware Sustainable Energy Utility will purchase the renewable energy credits associated with the system.
SunPower Corporation has a diversified channel strategy with a strong presence in the residential and commercial market, along with its status as a conversion efficiency leader for the mass market. The company also has a steadfast focus on spreading out its revenue stream across the solar value chain from cells to systems installation. The company presently retains a short-term Zacks #3 Rank (Hold). We have a long-term Outperform recommendation on the stock.
Recently, SunPower Corporation reported second quarter 2011 adjusted loss per share of 32 cents narrowly beating the Zacks Consensus Estimate of a loss of 33 cents but falling short of year-ago earnings of 3 cents per share.
Headquartered in San Jose, California, SunPower Corporation designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's guaranteed performance to provide maximum return on investment throughout the life of the solar system. The company competes head to head with Suntech Power Holdings Co. Ltd. (STP).
DYNEGY INC (DYN): Free Stock Analysis Report
SUNPOWER CORP-A (SPWRA): Free Stock Analysis Report
SUNTECH PWR HLD (STP): Free Stock Analysis Report
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