SAN JOSE, Calif., Sept. 11, 2019 /PRNewswire/ -- Sony Pictures
Entertainment (SPE) today announced a commitment to generate clean,
solar electricity with SunPower (NASDAQ:SPWR) technology at its
historic studio lot in Culver City,
Calif. The 1.6-megawatt project is expected to generate over
58 million kilowatt hours of solar power over 25 years,
counteracting greenhouse gas emissions from over 9,000 passenger
cars for a year according to the EPA Greenhouse Gas Equivalencies
Calculator. When combined with the lot's existing solar capacity,
1.83 megawatts of solar will generate clean, onsite power and
account for approximately 8.5 percent of the studio lot's
electricity use.
"Sony Pictures has long prioritized sustainability to reduce our
environmental impact, while delivering the creative, entertaining
content we're recognized for around the world," said Craig Schwartz, EVP Global Real Estate,
Facilities & SEHS, Sony Pictures Entertainment. "We look
forward to integrating SunPower's solar technology into our energy
portfolio as we work toward our sustainability goals."
As a RE100 member, Sony Group Companies including SPE are
committed to reaching 100 percent renewable power. Efforts to go
solar also contribute toward parent-company Sony Corporation's Road
to Zero, a global environmental plan that aims to achieve a zero
environmental footprint by the year 2050.
SunPower designed and is installing complete rooftop solar
solutions across eight Sony Pictures sound stages, including Stage
30 which is best known for its massive 90-by-100-foot water tank
and where iconic productions like TriStar Pictures' Hook and
Columbia Pictures hits Spider-Man™ II, Men in
Black™ II and The Amazing Spider-Man were
filmed. Solar project construction is expected to begin later this
month and reach full operation in early 2020.
"We commend Sony Pictures for its sustainability leadership
within the entertainment industry," said Nam Nguyen, SunPower executive vice president,
commercial solar. "SunPower's energy solutions are designed to
deliver reliable, clean electricity, and as the leader in U.S.
commercial solar, we look forward to supporting Sony Pictures in
its renewable energy efforts for years to come."
For more on Sony Pictures' sustainability efforts, visit
http://www.sonypicturesgreenerworld.com/. And for more on how
SunPower is helping commercial energy buyers reach their
sustainability goals, visit www.sunpower.com/commercial.
About Sony Pictures Entertainment
Sony Pictures
Entertainment (SPE) is a subsidiary of Tokyo-based Sony Corporation. SPE's global
operations encompass motion picture production, acquisition, and
distribution; television production, acquisition, and distribution;
television networks; digital content creation and distribution;
operation of studio facilities; and development of new
entertainment products, services and technologies. SPE's Motion
Picture Group production organizations include Columbia Pictures,
Screen Gems, TriStar Pictures, Sony Pictures Animation, Stage 6
Films, AFFIRM Films, and Sony Pictures Classics. For
additional information, visit
http://www.sonypictures.com/corp/divisions.html.
About SunPower
As one of the world's most innovative
and sustainable energy companies, SunPower (NASDAQ:SPWR) provides a
diverse group of customers with complete solar solutions and
services. Residential customers, businesses, governments, schools
and utilities around the globe rely on SunPower's more than 30
years of proven experience. From the first flip of the switch,
SunPower delivers maximum value and superb performance throughout
the long life of every solar system. Headquartered in Silicon
Valley, SunPower has dedicated, customer-focused employees in
Africa, Asia, Australia, Europe, and North and South America. For more information about how
SunPower is changing the way our world is powered, visit
www.sunpower.com.
SunPower's Forward-Looking Statements
This press
release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, including,
but not limited to, statements regarding project plans and
timelines, projected energy output, and product performance. These
forward-looking statements are based on our current assumptions,
expectations, and beliefs and involve substantial risks and
uncertainties that may cause results, performance, or achievement
to materially differ from those expressed or implied by these
forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to: regulatory
changes and the availability of economic incentives promoting use
of solar energy, challenges inherent in constructing certain of our
large projects, and fluctuations or declines in the performance of
our solar panels and other products and solutions. A detailed
discussion of these factors and other risks that affect our
business is included in filings we make with the Securities and
Exchange Commission (SEC) from time to time, including our most
recent reports on Form 10-K and Form 10-Q, particularly under the
heading "Risk Factors." Copies of these filings are available
online from the SEC or on the SEC Filings section of our Investor
Relations website at investors.sunpowercorp.com. All
forward-looking statements in this press release are based on
information currently available to us, and we assume no obligation
to update these forward-looking statements in light of new
information or future events.
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SOURCE SunPower Corp.