UPDATE 1-SunPower sets 32 MW supply deal with Toshiba

* To supply 32 MW of panels this year

* SunPower shares up 1.4 pct premarket

NEW YORK, March 1 (BestGrowthStock) – SunPower Corp (SPWRA.O: ) said
on Monday it has signed a supply agreement with Toshiba Corp
(6502.T: ) to supply the Japanese company with 32 megawatts of
solar panels this year.

The deal, for which no financial details were released,
will “form the cornerstone” of Toshiba’s new residential solar
offering in Japan, SunPower said in a release.

SunPower is one of the world’s largest producers of the
solar photovoltaic equipment that turns sunlight into
electricity, and its modules are among the most efficient in
the industry.

The Japanese solar market is expected to grow sharply in
coming years because of the government’s aggressive targets to
increase the growth of renewable energy sources by 2020.

SunPower nearly doubled production of its high-efficiency
solar cells and panels from 2008 to 2009, with 2009 cell
production of approximately 400 megawatts.

In 2010, the company intends to expand production further
with newmanufacturing operations in Malaysia, the United
States and Europe.

Stock Market Trading

(Reporting by Matt Daily, editing by Dave Zimmerman)

UPDATE 1-SunPower sets 32 MW supply deal with Toshiba