SunPower's 25-Megawatt McHenry Solar Farm Poised for Construction Start
Electricity produced by the solar PV project will serve the utility grid operated by
"Solar power adds to the diversity of MID's power mix and is an excellent fit for our customers' energy needs," said MID Assistant
The plant will use the SunPower Oasis™ Power Plant product, a fully integrated, modular solar power block that is engineered to rapidly and cost-effectively deploy utility-scale solar projects while minimizing land use impacts. Each power block integrates the SunPower® T0 Tracker with
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The company uses words and phrases such as "poised," "expects," "will," "contingent on," and "expected" to identify forward-looking statements in this press release, including forward-looking statements regarding (a) expected beginning of construction of the solar farm; (b) expected benefits of the solar farm; and (c) the expected completion date in 2012. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) construction difficulties or potential delays, including obtaining land use rights, permits, license, other governmental approvals, and transmission access and upgrades, and any litigation relating thereto; (ii) increasing competition in the industry and lower average selling prices, and impact on gross margin; (iii) timeline for revenue recognition and the impact on the company's operating results; (iv) the risk of continuation of supply of products and components from suppliers; (v) unanticipated problems with deploying the system on the site; and (vi) other risks described in the company's Annual Report on Form 10-K for the year ended January 2, 2011 and Quarterly Report on Form 10-Q for the quarter ended July 3, 2011, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
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