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SunPower to build two 1MW solar power plants in Italy

SunPower signs agreement with Italian K6 S.a.S.
Two plants located in Puglia region
Plants to be complete in August this year

SunPower Corp (SPWRA.O) said it would partner with Italian investment and management company K6 S.a.S. to build two 1 megawatt photovoltaic (PV) solar power plants in the Puglia region in Italy.

The two new plants are located in Casamassima and Conversano and will be complete by August, SunPower said.

The renewable solar power generated by the plants in Italy will provide electricity locally and contribute to the national electric grid, the company said.

SunPower, which recently agreed to buy European SunRay Renewable Energy for $277 million, operates Italy´s largest 24-megawatt solar power plant in Montalto di Castro.

Shares of San Jose, California-based SunPower closed at $20.46 Monday on Nasdaq.

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