Energy Department Offers $1.187 Billion Conditional Commitment for Loan Guarantee Supporting the 250-Megawatt California Valley Solar Ranch

SunPower Corporation SPWRA SPWRB), sponsor of the 250-megawatt (AC) California Valley Solar Ranch power plant, announced today the project has been offered support via a conditional commitment for a loan guarantee of up to $1.187 billion from the U.S. Department of Energy (DOE). California Valley Solar Ranch is expected to create 350 jobs during construction, will power approximately 100,000 homes, and will be one of the largest photovoltaic (PV) solar power plants in the world, when complete. NRG Solar, a subsidiary of NRG Energy, Inc. NRG will assume all ownership and financing responsibilities for the project, subject to certain conditions. SunPower will design, build, and initially operate and maintain the solar power plant.