Macy's Hails Earth Day with SunPower Solar Dedication in San Jose
21 Abril 2008 - 8:00AM
PR Newswire (US)
SunPower is Installing Solar Power Systems on 28 Macy's Stores
Statewide, including 12 in Northern California SAN JOSE, Calif.,
April 21 /PRNewswire/ -- In anticipation of tomorrow's worldwide
celebration of Earth Day, Macy's and SunPower Corporation
(NASDAQ:SPWR), the San Jose-based manufacturer of high-efficiency
solar cells, solar panels and solar systems, are dedicating a
307-kilowatt solar power system at the Macy's store at Oakridge
Mall in San Jose. SunPower has partnered with Macy's to design and
install solar power systems on 28 stores across California,
including 12 in Northern California, and also assisted the retailer
in improving the energy efficiency at the stores. The solar
dedication is part of Macy's Turn Over A New Leaf campaign that
kicked off yesterday. The awareness campaign is designed to
support, educate and inspire sustainability and eco-friendly
practices in everyday life. In addition to special promotions,
merchandise and in-store events, Macy's will donate all of the
proceeds from ticket sales for its national charity days -- One
Good Turn -- on April 26th and 27th to the National Park
Foundation. The solar power system on Macy's San Jose store is
expected to generate 404,000 kilowatt hours per year. It will
reduce annual carbon dioxide emissions by 514,000 pounds, which is
the equivalent to planting 1590 acres of trees over the 30-year
lifetime of the system. "Through commitment and innovation, I
believe that we will lead the way to solving the world's
environmental challenges," said San Jose Mayor Chuck Reed. "The
partnership between Macy's and SunPower is a great example.
Together, the two companies are demonstrating how deploying clean
renewable technology is fiscally and environmentally responsible.
San Jose stands to benefit from their leadership and vision."
Macy's has committed to installing over 8 megawatts of solar power
systems on its California stores. At most of the stores, including
the San Jose location, Macy's will purchase the generated
electricity from a third-party financier under the SunPower
Access(TM) power purchase agreement (PPA) program. MMA Renewable
Ventures, LLC, will finance, own and operate solar power systems at
all stores for which PPA arrangements have been finalized.
Delivering predictably priced electricity with no upfront system
cost, MMA Renewable Ventures' PPA services provide Macy's with
immediate savings and a long-term hedge against rising peak power
prices. Combining solar power with energy efficiency upgrades such
as high-efficiency lighting and HVAC systems and energy management
systems is expected to reduce energy consumption by more than 24
million kilowatt hours annually, achieving an estimated 40 percent
reduction in Macy's demand for utility-provided energy in those
stores. Carbon dioxide emissions are estimated to be reduced by
more than 195 million pounds over the lifetime of the systems,
which is the equivalent of removing 1,144 cars from California's
highways each year. "Macy's is committed to supporting the
development of clean technologies, and reducing our energy
consumption," says Macy's, Inc. Vice Chair Tom Cole. "We are proud
to join the fight against greenhouse gas emissions in California
because we believe a successful business is dependent on a healthy
environment." "SunPower is proud to partner with Macy's to deliver
innovative solar technology, efficiency upgrades and affordable
financing solutions to support this unprecedented 28-store
commitment," said SunPower Chief Executive Officer Tom Werner. "We
applaud Macy's for their forward-thinking approach to environmental
sustainability and corporate responsibility." In addition to San
Jose, other Northern California locations scheduled to receive
SunPower solar power systems include Concord, Cupertino, Daly City,
Fresno, Newark, Richmond, San Rafael, Santa Clara, Stockton and
Sunnyvale. Completion of all the solar power installations is
expected by the end of this year. About Macy's Macy's, the largest
retail brand of Macy's, Inc., delivers fashion and affordable
luxury to customers at more than 800 locations in 45 states, the
District of Columbia, Puerto Rico and Guam. Offering distinctive
assortments including exclusive fashion and home brands, Macy's
stores are operated by seven regionally based retail divisions -
Macy's East, Macy's Florida, Macy's Midwest, Macy's North, Macy's
Northwest, Macy's South, and Macy's West -- and an online store at
macys.com. Macy's West is based in San Francisco and operates 193
stores in eight states. For additional media materials, please
visit our online pressroom at http://www.macys.com/pressroom. About
SunPower SunPower Corporation (NASDAQ:SPWR) designs, manufactures
and delivers high-performance solar electric systems worldwide for
residential, commercial and utility-scale power plant customers.
SunPower high-efficiency solar cells and solar panels generate up
to 50 percent more power than conventional solar technologies and
have a uniquely attractive, all-black appearance. With headquarters
in San Jose, Calif., SunPower has offices in North America, Europe
and Asia. For more information, visit http://www.sunpowercorp.com/.
SunPower is a majority-owned subsidiary of Cypress Semiconductor
Corp. (NYSE:CY). About MMA Renewable Ventures A subsidiary of
Municipal Mortgage & Equity, LLC "MuniMae," (Pink Sheets:
MMAB), MMA Renewable Ventures finances, owns and operates renewable
energy and energy efficiency assets in the United States. The
Company provides leases, Power Purchase Agreements (PPAs) and other
customized financial solutions to help its customers manage energy
costs. MMA Renewable Ventures is dedicated to delivering
competitively priced, clean energy and energy savings to customers,
strong partnership options for project developers, and exceptional
opportunities for institutional investment in the clean energy
sector. For more information about MMA Renewable Ventures, visit
http://www.mmarenewableventures.com/. Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements are
statements that do not represent historical facts. The company uses
words and phrases such as "to design and install," "is expected,"
"will," and "are estimated," and similar expressions to identify
forward-looking statements. Forward-looking statements in this
press release include, but are not limited to, the company's plans
and expectations regarding (a) designing and installing solar power
systems on 28 stores across California, including 12 in Northern
California; (b) generating 404,000 kilowatt hours per year; (c)
reducing annual carbon dioxide emissions by 514,000 pounds, which
is the equivalent to planting 1590 acres of trees over the 30-year
lifetime of the system; (d) reducing energy consumption by more
than 24 million kilowatt hours annually, achieving an estimated 40
percent reduction in Macy's demand for utility-provided energy in
those stores; (e) reducing carbon dioxide emissions by more than
195 million pounds over the lifetime of the systems, which is the
equivalent of removing 1,144 cars from California's highways each
year; and (f) completing all the solar power installations by the
end of this year. These forward-looking statements are based on
information available to the company as of the date of this release
and management's current expectations, forecasts and assumptions,
and involve a number of risks and uncertainties that could cause
actual results to differ materially from those anticipated by these
forward-looking statements. Such risks and uncertainties include a
variety of factors, some of which are beyond the company's control.
In particular, risks and uncertainties that could cause actual
results to differ include (i) construction difficulties or
potential delays in the project implementation process; (ii)
unanticipated delays or difficulties securing necessary permits,
licenses or other governmental approvals; (iii) the risk of
continuation of supply of products and components from suppliers;
(iv) unanticipated problems with deploying the system on the sites;
(v) the actual energy consumption rate; (vi) unexpected changes in
utility service rates; (vii) variations in carbon dioxide emissions
reductions; and (viii) other risks described in the company's
Annual Report on Form 10-K for the year ended December 30, 2007,
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.
SunPower is a registered trademark of SunPower Corp. Cypress is a
registered trademark of Cypress Semiconductor Corp. All other
trademarks are the property of their respective owners. DATASOURCE:
SunPower Corporation CONTACT: Janet De Vor of Macy's,
+1-415-393-3455, ; or Ingrid Ekstrom of SunPower Corporation,
+1-510-260-8368, Web site: http://www.sunpowercorp.com/
http://www.macys.com/pressroom http://www.mmarenewableventures.com/
Copyright