SunPower, Wells Fargo Team to Finance $100 Million in Solar Projects

First Projects with University of California, Merced and Western Riverside
County Regional Wastewater Authority

SAN FRANCISCO and SAN JOSE, Calif., June 29 /PRNewswire-FirstCall/ -- Wells
Fargo (NYSE: WFC) and SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced a
new collaborative effort to fund up to $100 million in SunPower
commercial-scale solar systems.

Under the financing program, SunPower will enter into power purchase
agreements with qualified customers and Wells Fargo will finance the solar
power systems that SunPower will design, build, operate, and maintain.
Customers hosting the systems will buy the electricity from SunPower at prices
that are competitive with retail rates, providing them with a long-term hedge
against rising power prices and the ability to take advantage of the
environmental and financial benefits of solar power with no initial capital
investment.

"We see increasing opportunities over the next several years to support
renewable energy markets," said Barry Neal, director of Wells Fargo's
Environmental Finance. "By teaming up with SunPower, we intend to support
growth in the solar energy market by making it easier and more affordable for
businesses and public entities to benefit from solar electricity today."

The first projects financed under the program include a 1.1-megawatt system
for University of California, Merced, and a 1-megawatt system for the Western
Riverside County Regional Wastewater Authority. Scheduled for completion by
year end, both will be ground-mounted systems using the patented SunPower(R)
T20 Tracker technology, which follows the sun throughout the day and delivers
up to 30 percent more energy than fixed-tilt ground systems.

"SunPower offers high performance solar technology and financing expertise
that helps customers maximize savings on their electricity expenditures. Our
relationship with Wells Fargo strengthens our project finance efforts,
streamlining the implementation of clean, renewable solar power for SunPower's
large commercial and public customers throughout the U.S.," said Mac Irvin,
managing director of SunPower's structured finance group.

SunPower has more than 500 large public and commercial solar power systems
installed or under contract, representing more than 400 megawatts. The company
pioneered the use of solar power purchase agreements in 2000.

Wells Fargo has provided more than $1.75 billion in financing for renewable
energy projects since 2006. That includes funding for 27 wind projects, more
than 150 commercial-scale solar projects and 1 utility-scale solar thermal
project.

About SunPower
Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures
and delivers the planet's most powerful solar technology broadly available
today. Residential, business, government and utility customers rely on the
company's experience and proven results to maximize return on investment. With
headquarters in San Jose, Calif., SunPower has offices in North America,
Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.

About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $1.3
trillion in assets, providing banking, insurance, investments, mortgage and
consumer finance through more than 10,400 stores, over 12,000 ATMs and the
internet (wellsfargo.com) across North America and internationally. The
Company promotes economic growth and self-sufficiency, education, social
services, the arts and the environment in thousands of communities across
North America. In 2008, the Company gave $226 million in grants to 14,000
nonprofits. Team members contributed 1.4 million volunteer hours and served on
16,000 nonprofit boards. The merger of Wells Fargo and Wachovia makes our
presence stronger in the communities we serve. For more about Wells Fargo's
achievements in Social Responsibility: www.wellsfargo.com/about/csr.

Forward-Looking Statements
This news release has forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
do not represent historical facts and may be based on assumptions. The company
uses words and phrases such as "to finance," "to help fund," "will,"
"increasing," "next," "growth," and "scheduled," to identify forward-looking
statements in this press release, including forward-looking statements
regarding: (a) SunPower designing and building up to $100 million in solar
projects financed by Wells Fargo; (b) customers entering into power purchase
agreements with SunPower at prices competitive with retail rates, providing
customers with long-term hedges against risking power prices; (c)
opportunities in the renewable energy markets increasing over the next several
years; and (d) SunPower completing solar system projects for University of
California, Merced and Western Riverside County Regional Wastewater Authority
before 2010. Such forward-looking statements are based on information
available to the company as of the date of this release and involve a number
of risks and uncertainties, some beyond the company's control, that could
cause actual results to differ materially from those anticipated by these
forward-looking statements, including risks and uncertainties such as: (i)
construction difficulties or potential delays in the project implementation
process; (ii) unanticipated delays or difficulties securing necessary permits,
licenses or other governmental approvals; (iii) the risk of continuation of
supply of products and components from suppliers; (iv) unanticipated problems
with deploying the systems on the sites; (v) actual electricity generation;
(vi) the actual energy consumption rate; (vii) unexpected changes in utility
service rates; (viii) systems qualifying for financing under the facility; and
(ix) other risks described in SunPower's Quarterly Report on Form 10-Q for the
quarter ended March 29, 2009, and other filings with the Securities and
Exchange Commission. These forward-looking statements should not be relied
upon as representing the company's views as of any subsequent date, and the
company is under no obligation to, and expressly disclaims any responsibility
to, update or alter its forward-looking statements, whether as a result of new
information, future events or otherwise.

SUNPOWER and the SUNPOWER logo are trademarks or registered trademarks of
SunPower Corporation. All rights reserved. All other trademarks are the
property of their respective owners.

SOURCE SunPower Corp.

Media, Ingrid Ekstrom of SunPower Corp., +1-510-260-8368,
iekstrom@sunpowercorp.com; or Stephanie Rico of Wells Fargo, +1-415-396-5804,
stephanie.rico@wellsfargo.com