Purchase the European solar energy power plant at 277 million dollars of SunPower Company

by TaylorB
Purchase the European solar energy power plant at 277 million dollars of SunPower Company
Article by Keith Farren

Purchase the European solar energy power plant at 277 million dollars of SunPower Company - Technology












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This Monday, the general headquarters lie in SunPower Company with state to purchase the European solar power plant SunRay Renewable Energy at 277 million dollars. SunPower Company will pay the cash of 235 million dollars, will issue handing in asking of 42 million dollars through letter of credit and promissory note. Both sides expect to complete the transaction in the first half of 2010. SunPower Company is Nasdaq listed company, it and releases the influence purchased to the shareholder at 2009 fiscal year income meetings in the fourth quarter to be held in March. SunPower Company says, it has sufficient cash that completes the transaction, do not plan to raise the capital stock. SunRay Company been responsible for building Italy and cheating the tower and holding and guiding Castro power plant, it is a company which specializes in the mega project, involve there are project, legal affairs and project financing in the field. It mainly launches the project in the south of Europe. To cover with tower, ask, it guides Castro to be the intersection of Italy and power plant of maximum at present in power plant 24. This project is the SunRay and first cooperation of SunPower. This power plant takes up an area of 80 hectares, have 78,729 solar energy panels of SunPower Company. " There is good record building very commercial solar energy power plant under the complicated environment in SunRay Company, " Group's president Howard Wenger says business of SunPower public service and power plant. " Purchasing long-term strategy which accords with our company this time, we will set up the powerful brand, bring the supplementing channel to the market, " He adds. Through purchasing SunRay, SunPower in Italy, France, Israel, Spain, Britain, the intersection of solar energy and the intersection of photovoltaic and the intersection of project and over 1200 of total amount of Greece in now in Company. SunPower Company (Nasdaq: SPWRA) Established in 1985, designed, made and sold the most advanced solar energy technology in the world. SunPower Company headquartered in San Jose of California, has offices in North America, Europe, Australia and Asia. About the Author
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