Casino Group Signs Additional 20-Megawatt Solar Panel Supply Agreement with SunPower
Total of more than 35 Megawatts of SunPower Modules to be Installed on Casino Group Properties by end of 2011 GENEVA, June 24, 2010 /PRNewswire via COMTEX News Network/ -- The French retailer Casino Group (Paris CASP.PA) and SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced that SunPower will supply an additional 20 megawatts of high-efficiency solar photovoltaic panels for solar power installations on Casino Group properties in mainland France. The agreement, which builds on a similar 15-megawatt agreement between the two companies last year, will enable Casino Group to turn under-utilized roof space and parking area into power plants to produce renewable electricity and reduce carbon dioxide emissions.
"As an indication of the fast development of GreenYellow, the renewable energy subsidiary of the Casino Group, and to improve our continued commitment to sustainability, Casino Group is very pleased to extend our agreement with SunPower and install solar power systems on a significant number of additional properties," said Philippe Houins, chief operations officer of Green Yellow. "SunPower's proven high-efficiency technology delivers the highest energy density in space constrained areas. This permits us to maximize the amount of clean, renewable solar power that will be produced at our facilities, maximizing cost optimizations and environment benefits. The choice of SunPower reinforces our commitment to building-integrated solar systems which is today the best way to produce renewable energy by the valorization of non-utilized space."
"We are delighted to partner with Casino to further expand their use of solar power in France, increasing their total commitment to more than 35 megawatts. We are confident that, with SunPower's proven performance and reliability, Casino and GreenYellow will continue to achieve considerable return on investment over the 25-to-30-year lifetime of the solar panels," said Howard Wenger, president, utility and power plants, for SunPower.
SunPower will supply Casino with its SunPower E19 Series solar panels, which offer a world record efficiency of 19 percent or greater. The modules feature larger, more powerful all-back contact solar cells that deliver three percent more surface area per cell, boosting panel efficiency by reducing unutilized space. The panels also have an anti-reflective coating that allow for more diffuse off-angle light to be captured, generating more energy per rated watt than a conventional solar panel.
The combined 35 megawatt agreement will result in solar power systems at 18 of the company's properties, on rooftops and parking lots. In-store monitoring displays at Casino's facilities with solar power systems will provide customers and employees with information on how much solar power is being generated on site.
Casino Group includes 11,000 stores in 9 countries making it one of the largest French retail networks, and consists of more than 20 different brands of stores.
With its European headquarters in Geneva, SunPower systems have been installed on facilities operated by the Bon Preu Esclat supermarket chain in Spain, and on multiple rooftops for US-based retailers such as Target, Wal-Mart Stores, Macy's and Lowe's.
Celebrating its 25th anniversary this year, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.
Founded in 1898, the Casino Group is one of the world's leading food retailers, active in multiple retail formats. Its operating performance, which has grown steadily over the past several years and now exceeds the industry average, is the result of the Group's unique position in the market and its ability to anticipate changing lifestyles and consumer practices. The Group is present in 9 countries around the world: Casino has chosen to focus its efforts on emerging countries with high growth potential, primarily in South America and Southeast Asia where its subsidiaries are industry leaders and firmly anchored in their communities. For more information, visit www.groupe-casino.com.