D. E. Shaw Renewable Investments and Bright Plain Renewable Energy Announce the Acquisition of Kalaeloa Solar Farm from

 D. E. Shaw Renewable Investments and Bright Plain Renewable Energy Announce
             the Acquisition of Kalaeloa Solar Farm from SunPower

PR Newswire

SAN JOSE, Calif., Nov. 28, 2012

SAN JOSE, Calif., Nov. 28, 2012 /PRNewswire/ -- D. E. Shaw Renewable
Investments, L.L.C. (DESRI) and Bright Plain Renewable Energy, L.L.C. (BPRE)
today announced the acquisition of the Kalaeloa solar farm from SunPower Corp.
(NASDAQ: SPWR). The 5-megawatt (AC) solar farm was developed by SunPower in
West Oahu, Hawaii, and has been acquired by an affiliate of DESRI in
partnership with BPRE.

Construction on the project began in July of this year, and is expected to be
complete next month. Hawaiian Electric will buy the power produced by the
solar farm under a fixed-price contract for 20 years. Rabobank, a global
financial services leader serving the renewable energy and food and
agribusiness industries, is providing both construction and term loans for the
project.

"Solar is a valuable source of power and attractive investment opportunity,
particularly in Hawaii, as it cleanly and reliably serves our growing energy
demand without imported fossil fuels, while providing a predictable, low risk
return to investors over a long period of time," said William Lee, president
of BPRE. "We're confident that, with SunPower's leading solar power plant
expertise, this project will benefit the residents of Oahu for years to come."

"Solar power in Hawaii is cost competitive with other electricity sources,"
said Howard Wenger, SunPower president, regions. "This project will generate
power economically for Hawaiian Electric's customers every year for the next
20 years. With more than one gigawatt of SunPower solar power plants operating
worldwide, our high-efficiency technology will ensure the guaranteed
performance of the Kalaeloa solar farm."

SunPower is installing high-efficiency SunPower solar panels on a SunPower T0
Tracker^® system situated on 36 acres owned by the State of Hawaii Department
of Hawaiian Home Lands. The Tracker positions solar panels to follow the sun's
movement during the day, increasing sunlight capture by up to 25 percent over
conventional fixed-tilt systems, while significantly reducing land
requirements.

"This project will contribute clean, renewable solar power to Oahu while
generating welcome revenues to support the important work we do on behalf of
native Hawaiians," said Jobie Masagatani, chair-designate of the Hawaiian
Homes Commission and director of the Department of Hawaiian Home Lands.

"We welcome the completion of this solar facility, part of Hawaiian Electric's
continuing effort to add renewable energy to our island grids," said Robbie
Alm, Hawaiian Electric executive vice president. "Hawaii leads the nation in
solar watts per person, much of it generated by customer-sited roof-top PV
arrays. This and other utility-scale projects will help Hawaii maintain our
solar leadership and reduce our unsustainable and expensive dependence on
imported oil."

According to estimates provided by the U.S. Environmental Protection Agency,
the solar farm will produce enough renewable power to avoid almost 11,000 tons
of carbon dioxide emissions per year, equivalent to removing 37,600 cars from
Hawaii's roads over the 20-year term of the power purchase agreement.

About Bright Plain Renewable Energy, L.L.C.
BPRE was founded in 2011 by industry veterans David Buzby and William Lee as a
pure play operating platform to acquire and manage solar projects across North
America. By building lasting relationships with project developers and
providing efficient and knowledgeable capital, BPRE is enabling the growth of
the solar industry. Likewise, BPRE's strategic investors benefit from direct
investment in long term assets and stable cash flows. BPRE invests in
distributed and utility scale projects supported by PPAs with commercial,
industrial, municipal or utility clients.

About D. E. Shaw Renewable Investments, L.L.C.
D. E. Shaw Renewable Investments (DESRI) and its affiliates seek to acquire
long-term contracted renewable energy assets in North America. DESRI is a
member of the D. E. Shaw group, a global investment and technology development
firm with more than 1,000 employees, approximately $27 billion in investment
capital as of October 1, 2012, and offices in North America, Europe, and Asia.

About SunPower
SunPower Corp. (NASDAQ: SPWR) designs, manufactures and delivers the highest
efficiency, highest reliability solar panels and systems available today.
Residential, business, government and utility customers rely on the company's
quarter century of experience and guaranteed performance to provide maximum
return on investment throughout the life of the solar system. Headquartered in
San Jose, Calif., SunPower has offices in North America, Europe, Australia,
Africa and Asia. For more information, visit www.sunpowercorp.com.

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

SOURCE SunPower Corp.

Website: http://www.sunpowercorp.com
Contact: Ingrid Ekstrom, +1-510-260-8368, Ingrid.ekstrom@sunpowercorp.com; or
David Buzby, +1-415-465-6743, dbuzby@brightplain.com
 
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