FPL Group (FPL) & SunPower (SPWRA) Sign Solar Power Supply Agreement

SunPower (SPWRA) will begin supplying its high efficiency solar panels and Tracker technology beginning next year to FPL Group (FPL) it was announced today.  It’s also being announced that the the company will locate a research and development center employing up to 50 employees in Florida if the state government continues to support the deployment of additional solar energy. This is follow on work to previous partnerships.  No word on the size of this deal. 

“Our agreement with SunPower for competitively priced panels and systems represents a key milestone in the execution of our solar strategy. For NextEra Energy Resources, this agreement will further advance our solar development efforts in key markets such as Colorado, California, Arizona, and New Jersey. In addition, assuming continued support by Florida’s legislative and regulatory leadership for the deployment of solar power in Florida, this agreement benefits the state through the creation of more clean energy jobs and will help to ensure that our utility customers in Florida will get the best pricing and technology available for solar projects. SunPower’s success on the construction of the DeSoto Next Generation Solar Energy Center makes us confident in furthering this important relationship,” FPL Group President and COO Jim Robo said.

SPWRA is up about 2% in premarket trading on the news.  The company will report earnings after the bell today. 

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