Epuron Acquires SunPower Asset
SunPower (NASDAQ: SPWR) and Epuron today announced that Epuron has acquired the 1-megawatt Uterne solar power plant operating in Alice Springs, Australia. Commonwealth Bank, Australia's leading provider of integrated financial services, has provided project financing, making it the country's first major bank to support a solar project of this size.
The project was developed by SunPower with the support of Power and Water Corporation. Under a solar power purchase agreement, Power and Water Corporation will buy generated electricity at a guaranteed rate over a 20-year term. Following the acquisition, SunPower will continue to provide operations and maintenance services in conjunction with Ogden Power, a SunPower accredited solar company based in Alice Springs.
"Epuron's acquisition of Uterne underscores the bankability of SunPower's industry-leading, high efficiency technology, decades of proven experience and more than 2,500 megawatts deployed globally," said Howard Wenger, SunPower president, regions. "This solar power plant has exceeded reliability and energy production expectations since it was commissioned in June 2011, and will reliably generate power and return on investment for the life of the