Benzinga | Jun 4, 2021 06:45AM EDT

Maxeon Solar Technologies Converts Kering's Logistics Center Into 12.7MW Rooftop PV System

* Maxeon Solar Technologies Ltd's (NASDAQ:MAXN) solar technology will power the newly constructed international logistics hub of the global luxury group Kering SA (OTC:PPRUF), which manages the development of multiple renowned Houses in Fashion, Leather Goods, Jewelry, and Watches.

* The installation located in Trecate, Northern Italy, will become a significant rooftop European Photovoltaic (PV) system with a peak output of 12.7 megawatts (MW) from over 31,000 SunPower Corp (NASDAQ:SPWR) brand solar panels after completion by August 2021.

* The Trecate rooftop array will be installed on two adjacent buildings and cover over 55,160 square meters in total.

* Maxeon estimated the installation to supply over 13.5 GWh of clean electricity and mitigate over 7,500 tons of carbon dioxide emissions annually.

* Price action: MAXN shares closed lower by 3.49% at $15.47 on Thursday.