April 1, 2010 (FinancialWire) — SunPower Corp. (NASDAQ: SPWRA) said it has inked an agreement with Sol.In.Build Srl, a majority owned subsidiary of Veronagest SpA, to build seven solar photovoltaic power plants totaling 16.5 megawatts in the Sicily region of Italy.

The plants, which will be located on a combined total of 63 hectares, will range in size from one to 3.5 megawatts, and are scheduled to be complete by September 2010.

According to SunPower, the construction will be financed by a pool of Italian and international banks including Societe Generale, Unicredit Medio Credito Centrale and Dexia.

Italy-based Veronagest is engaged in the development, construction and operation of solar and wind power plants. The company said it has completed five operating wind farms with a consolidated installed power of 230 megawatts. It has two wind farms under construction totaling 102.5 megawatts.

California-based SunPower designs and manufactures solar technology for residential, business, government and utility customers. The company has offices in North America, Europe, Australia and Asia.

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