Having seen its sales in Asia-Pacific increase 20% q-on-q to US$58 million in Q3, primarily driven by its distribution agreement in Japan with Toshiba, SunPower said it had extended its exclusive supply agreement with the Japanese electronics giant through 2018.
SunPower had recently noted in its Q3 2012 quarterly conference call that Japan had accounted for over 10% of total revenue in the quarter, while markets inn Europe waned.
The company said that the extended module sales agreement with Toshiba included an increase in module shipments to over 100MW per annum as the Japanese market is expected to grow strongly after a new feed-in tariff was established in 2012.
Takeshi Yokota, Toshiba Executive Officer and Corporate Vice President said, “Toshiba has become a leading provider of high efficiency solar systems to the Japanese residential market and this extended agreement means we will continue to deliver the most reliable photovoltaic systems in the country for years to come,” said Toshiba Executive Officer, Corporate Vice President, Takeshi Yokota.
SunPower said that since establishing the partnership with Toshiba in 2010, it had shipped over 150MW of high-efficiency modules to Japan. Shipments to Japan in Q3 2012 increased 30% sequentially, according to the company.