SunPower Corp. will deliver 711 megawatts of solar power as part of three contracts with Southern California Edison, the solar products maker said Monday.

SunPower’s stock gained 89 cents, or 6.6 percent, to $14.33 in morning trading. The shares have traded in a range of $9.61 to $26.35 over the last year.

SCE said the 711 megawatts should provide enough power for more than 460,000 average California homes.

SunPower will install its solar technology at sites in Rosamond and Los Banos, Calif. The company, based in San Jose, Calif., will provide 110 megawatts in Los Banos by the end of 2014 and a total of 601 megawatts in Rosamond by October 2016.

The contracts must be approved by the California Public Utilities Commission and require the appropriate environmental reviews and permits.

source: bloomberg

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