October 29, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — SunPower Corp. (NASDAQ: SPWRA) said it has inked an agreement with Iberdrola Renewables to design and build a 30-megawatt photovoltaic solar power plant, the San Luis Valley Solar Ranch, on 216 acres of private, former agricultural land in Colorado's Alamosa County.

The plant is scheduled to be fully operational by the end of 2011. Construction will begin this year.

Iberdrola Renewables is developing the solar ranch, and will own and operate it. The company will sell the electricity under a long term contract to Xcel Energy, for distribution on the region's utility grid.

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

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