SunPower investments in RP to reach $319M by ’07

SunPower Philippines Manufacturing Limited (SPML), the first large-scale solar cell facility in South East Asia, will expand its operation in the country and will increase its capital infusion from $8.3 million in 2003 to $319 million by 2007.

Donald Mika, president of Cypress Manufacturing Ltd. And Tom Werner, chief executive officer (CEO) of SunPower Corp., informed Trade and Industry Secretary Cesar V. Purisima about their plans for SPML and their continued interest in the Philippines.

According to Werner, SPML has managed to manufacture its A300 silicon solar-cells of export standards in less than two months after it begun operations in the country.

"This success reinforced the company’s decision to expand our operations in the country," Werner said.

Werner cited the Philippines’ highly-skilled workforce, its proximity to key markets in Asia and its cost-effective location as its competitive advantage over other countries in the region.

SPML, a silicon solar-cell producer and a subsidiary of SunPower Corp. and Cypress, inaugurated its first high-volume manufacturing plant in Laguna Techno Park in March last year.

About 30 percent of SPML’s production is sold to the local market, while the remaining 70 percent is exported.

By 2007, SPML projects that its sales revenue will reach $247 million.