GE Unit Partners with SunPower on California Solar Projects

Multi-Project Financing Agreement Streamlines Solar Power System
Implementation
STAMFORD, Conn. & SAN JOSE, Calif.--(Business Wire)--GE Energy Financial Services, a unit of GE (NYSE: GE), announced
today that it is partnering with SunPower Corporation (NASDAQ: SPWR)
-- a Silicon Valley-based manufacturer of high-efficiency solar cells,
solar panels, and solar systems -- to provide financing for five
California solar power projects. The projects, totaling approximately
eight megawatts, include a system for Toyota Motor Sales' Parts Center
that will be the largest single-roof solar power installation in the
United States. The companies are also collaborating on solar projects
for HP, Agilent and two county and regional agencies.

Formed in the spirit of GE's ecomagination program, the joint
venture streamlines the implementation of large commercial and public
solar power systems. It also helps California meet the goals of the
California Solar Initiative to generate 3,000 megawatts of new,
solar-produced electricity by 2017.

GE Energy Financial Services is acquiring a majority equity
interest in the five solar photovoltaic projects, which SunPower will
design and build, operate and maintain. GE Energy Financial Services
will finance and own the systems under the SunPower Access power
purchase agreement program, which allows customers to take advantage
of the environmental and financial benefits of solar power with no
upfront capital costs. The solar electricity will be competitively
priced against retail rates, providing customers a long-term hedge
against rising peak power prices. Construction of the projects is
scheduled to begin in February and be completed by the end of the
year. Financial details of the transaction were not disclosed.

The five solar projects are:

-- Toyota Motor Sales, USA, Inc., Ontario, California: A
2.3-megawatt rooftop solar power system at the Toyota Motor
Sales, USA Ontario Parts Center. The new system will be the
largest single-roof solar power installation in the United
States.

-- HP (NYSE: HPQ), San Diego: A one-megawatt rooftop system
serving an eight-building printing technology R&D facility.
The project will use the patented SunPower(R) T10 Solar Roof
Tile commercial roof system, a non-penetrating solar system
that tilts at a 10-degree angle, to increase energy capture.

-- Agilent Technologies, Santa Rosa, California: A one-megawatt
solar tracking system installed atop a canopy structure in the
Agilent campus parking lot, providing both shade in the lot
and solar electric power for the facility.

-- Lake County, California: Ground-mounted solar systems at three
sites, serving a correctional facility in Lakeport and two
wastewater treatment plants in Lakeport and Clearlake,
totaling 2.4 megawatts. The project will provide 85 percent of
the power required by the county's correctional facility.

-- Rancho California Water District, Murrieta, California: A
one-megawatt ground-mounted system, covering 10 acres. The
project will use the patented SunPower(R) T20 Tracker, which
follows the sun throughout the day and delivers up to 30
percent more energy than traditional fixed-tilt ground
systems.

"Aggregating several projects into one portfolio gives us
financial scale to realize the advantages of project finance
structuring," explained Kevin Walsh, managing director and leader of
renewable energy at GE Energy Financial Services. "In addition, this
transaction diversifies our renewable energy portfolio with more solar
assets and supports ecomagination, GE's program to help its customers
meet their environmental challenges while expanding its own portfolio
of cleaner energy products."

"Our partnership with GE Energy Financial Services began in 2006,
when we started work on Portugal's Serpa Solar Power Plant, one of the
largest solar installations in the world," said Tom Werner, chief
executive officer of SunPower. "We are proud to be working with GE
again to offer our customers a uniquely efficient and cost-competitive
process for realizing the financial savings and environmental benefits
of solar power."

The five projects combined will avoid 8.5 million pounds of carbon
dioxide emissions in the first year of operation, demonstrating the
growing leadership of companies in California to use solar power to
address the rising cost of energy and the impact of greenhouse gases
on the environment. In addition, over 30,000 California homeowners are
now employing residential solar systems to reduce home utility costs
and improve the environment. These actions are key to achieving the
goals of the California Solar Initiative, the country's largest solar
program. Dubbed the "Million Solar Roofs Plan" by Gov. Arnold
Schwarzenegger, the initiative provides incentives that lower the cost
of installing solar power systems. The goals of the $3.2 billion
program are to create 3,000 megawatts of clean solar power - 5 percent
of the state's total need - during the next decade, avoid construction
of dozens of fossil-fuel peaking power plants and the greenhouse gases
they would emit, and lower solar costs through mass production.

About GE Energy Financial Services

GE Energy Financial Services' 350 experts invest globally with a
long-term view, backed by the best of GE's technical know-how and
financial strength, across the capital spectrum and the energy and
water industries, to help their customers and GE grow. With $16
billion in assets, GE Energy Financial Services, based in Stamford,
Connecticut, invests more than $5 billion annually in two of the
world's most capital-intensive industries, energy and water. In
renewable energy, GE Energy Financial Services is growing its
portfolio of more than $2 billion in assets in wind, solar, biomass,
hydro and geothermal power. More information:
www.geenergyfinancialservices.com.

About GE

GE (NYSE: GE) is Imagination at Work -- a diversified technology,
media and financial services company focused on solving some of the
world's toughest problems. With products and services ranging from
aircraft engines, power generation, water processing and security
technology to medical imaging, business and consumer financing, media
content and advanced materials, GE serves customers in more than 100
countries and employs more than 300,000 people worldwide. For more
information, visit www.ge.com.

About SunPower

SunPower Corporation (Nasdaq: SPWR) designs, manufactures and
delivers high-performance solar electric systems worldwide for
residential, commercial and utility-scale power plant customers.
SunPower high-efficiency solar cells and solar panels generate up to
50 percent more power than conventional solar technologies and have a
uniquely attractive, all-black appearance. With headquarters in San
Jose, Calif., SunPower has offices in North America, Europe and Asia.
For more information, visit www.sunpowercorp.com. SunPower is a
majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).

Editor's Note: A rendering of the solar tracking system to be
installed atop a parking canopy for Agilent in Santa Rosa, Calif., is
attached. Please credit "Courtesy of SunPower Corp."

Forward Looking Statement

This press release contains forward-looking statements as defined
in the Private Securities Litigation Reform Act of 1995. We use words
such as "will" and similar expressions to identify forward-looking
statements. Forward-looking statements in this press release include,
but are not limited to, our plans and expectations regarding the
Toyota system becoming the largest single-roof solar installation in
the U.S., the solar electricity being competitively priced against
retail rates, use of the SunPower(R) T10 Solar Roof Tile and
SunPower(R) T20 Tracker, the percentage of power provided to the Lake
County correctional facility, and the amount of carbon dioxide
emissions avoided by the solar projects in the first year of
operation. These forward-looking statements are based on information
available to us as of the date of this release and current
expectations, forecasts and assumptions and involve a number of risks
and uncertainties that could cause actual results to differ materially
from those anticipated by these forward looking statements. Such risks
and uncertainties include a variety of factors, some of which are
beyond our control. In particular, risks and uncertainties that could
cause actual results to differ include the risk that other parties may
install single-roof solar systems larger than Toyota's; changes in
product type deployments; unanticipated changes in the percentage of
power used at the Lake County facility or generated by the solar
installation; unanticipated variations in the amount of carbon dioxide
emissions avoided by the solar projects in the first year of
operation; other risks described in SunPower's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2007, and other filings
with the Securities and Exchange Commission. These forward-looking
statements should not be relied upon as representing our views as of
any subsequent date, and we are under no obligation to, and expressly
disclaim any responsibility to, update or alter our forward-looking
statements, whether as a result of new information, future events or
otherwise.

SunPower is a registered trademark of SunPower Corp. Cypress is a
registered trademark of Cypress Semiconductor Corp. All other
trademarks are the property of their respective owners.

SunPower Corp.
Ingrid Ekstrom, +1 (510) 260-8368
or
GE Energy Financial Services
Andy Katell, +1 (203) 961-5773
www.geenergyfinancialservices.com

Copyright Business Wire 2008