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SunPower Corp. said Wednesday it extended an agreement to sell solar panels to Toshiba for the Japanese residential market.

SunPower said the new agreement will last "several years." It said Toshiba Corp. agreed to place orders of more than 100 megawatts for high-efficiency solar panels. The company did not specify how long the agreement will last.

The company said it has delivered about 70 megawatts' worth of high-efficiency solar panels to Toshiba since 2010.

Shares of SunPower rose 4 cents to $4.80 Wednesday and added another 4 cents to $4.88 in aftermarket trading following the announcement.

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