March 10, 2010 (FinancialWire) — American solar power equipment maker SunPower Corp. (NASDAQ: SPWRB) and Italian investment and management firm K6 S.a.S. said they have reached an agreement under which the companies will build two one-megawatt photovoltaic solar power plants in the Puglia region, Italy. The two plants are located in Casamassima and Conversano and are scheduled to be complete by August 2010.

According to the companies, the power generated by the plants will provide electricity locally, and contribute to Italy’s national electric grid.

Luciano Di Filippo of K6 said, “The cooperation with SunPower is consistent with K6’s strategy to develop highly efficient solar parks.”

At the sites, SunPower will install SunPower panels and the firm’s SunPower T20 Tracker technology. The Tracker follows the sun during the day and, according to SunPower, delivers up to 30 percent more energy than fixed-tilt systems, requiring only half the land area to produce the same amount of energy as conventional dual-axis trackers.

SunPower said it has more than 200 megawatts of solar power plants operating globally TODAY, including Italy’s largest solar power plant, the 24-megawatt plant in Montalto di Castro.

Earlier this month, SunPower said it had signed a definitive agreement to acquire SunRay Renewable Energy, a European solar power plant developer with offices in Europe and the Middle East, including a principle project office in Rome.

Upon closing the transaction, SunPower will acquire a project pipeline of solar PV projects totaling more than 1,200 megawatts in Italy, France, Israel, Spain, the United Kingdom, and Greece.

Italy-based K6 S.a.S. was founded in November 2008 as an Italian investment and management company focused on developing, financing, building, owning and operating solar parks.

California-based SunPower designs and manufactures solar technology for residential, business, government and utility customers.

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