SAN JOSE, Calif., Dec. 4, 2012 /PRNewswire/ -- SunPower Corporation (NASDAQ: SPWR) today announced that is has extended its long-standing partnership with Toshiba through 2018. Toshiba has sold SunPower Corporation's world leading technology solar panels since 2010, making Toshiba the efficiency leader in the Japanese residential market.
Under the terms of the master supply agreement, SunPower will provide more than 100 megawatts of its highest-efficiency residential solar panels annually exclusively to Toshiba. Toshiba will offer solar systems with SunPower's highest efficiency solar modules in the rapidly growing Japanese residential market. Since the company first partnered with Toshiba in 2010, it has delivered more than 150 MW of its high-performance solar panels.
"Toshiba has become a leading provider of high efficiency solar systems to the Japanese residential market and this extended agreement means we will continue to deliver the most reliable photovoltaic systems in the country for years to come," said Toshiba Executive Officer, Corporate Vice President, Takeshi Yokota. "We greatly value our partnership with SunPower and the opportunity to market their premium product systems."
"Our strong partnership with Toshiba has been instrumental in our rapid growth in the Japanese residential market," said Tom Werner, SunPower Corporation president and CEO. "Extending our partnership through 2018 provides further certainty in a region that values our high efficiency, high reliability, guaranteed performance solar panels."
About SunPower Corporation
SunPower Corporation (NASDAQ: SPWR) 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 quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpowercorp.com.