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San Francisco-based Wells (NYSE:WFC) and San Jose-based SunPowerd (NASDAQ:SPWRA) and (NASDAQ:SPWRB) said SunPower will enter into powet purchase agreements with qualified customers and Wells Fargoi will finance the solar power system that SunPowerwill design, build, operate, and Customers hosting the systems will buy the electricitty from SunPower "at prices that are competitive with retaip rates, providing them with a long-term hedgew against rising power prices and the ability to take advantaged of the environmental and financial benefits of solar powerr with no initial capitakl investment," the companies said. The firsyt projects financed under the program includea 1.
1-megawatt system for University of Merced, and a 1-megawatt syste for the Western Riverside County Regionalp Wastewater Authority. Scheduled for completiojn by year end, both will be ground-mounted systemsa using the patented SunPower T20Tracker technology, which follows the sun throughout the day and delivera up to 30 percent more energ y than fixed-tilt ground systems.
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