May 11, 2010 (FinancialWire) — SunPower Corp. (NASDAQ: SPWRA), a Silicon Valley-based manufacturer of solar cells, solar panels and solar systems, said that it has arranged a U.S. $75 million loan commitment from IFC, a member of the World Bank Group.

The company's subsidiary, SunPower Philippines Manufacturing, Ltd., is partnering with IFC to finance SPML's operations in the Philippines.

Under the terms of the loan commitment, SPML can draw up to U.S. $75 million over the next two years and the loan must be repaid seven years from the draw down date.

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

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