Suntech to Deliver 10 to 14 MW of Akeena Solar's New Andalay Solar Panels
LOS GATOS, Calif. and SAN FRANCISCO, Sept. 24 /Xinhua-PRNewswire/ --
Akeena Solar, Inc. (Nasdaq: AKNS), a leading designer and installer of solar
power systems, and Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the
world's leading manufacturers of photovoltaic (PV) cells and modules, today
announced that Suntech has signed a letter of intent to manufacture Akeena
Solar's Andalay solar panels. Under the terms of the agreement, Suntech will
manufacture and deliver 10 to 14 Megawatts of Andalay solar panels to Akeena
Solar during 2008.
Andalay is the brand name for Akeena Solar's patent-pending high
performance solar panel systems. Unlike ordinary solar panels, Andalay panels
feature built-in wiring, built-in grounding and built-in racking so the panels
attach directly to the roof offering a smooth, flushed appearance. Andalay is
the logical next step in the evolution of solar power technology, combining
superior aesthetics with unparalleled reliability.
"Our engineers re-thought the concept of a solar panel so that the panels
can be manufactured from the start to simplify installation, improve
reliability and look like a glass skylight on the roof," said Barry Cinnamon,
CEO of Akeena Solar, Inc. "We are proud to have Suntech as our manufacturing
partner. And the improvements are not just in appearance and reliability; with
Andalay we expect to reduce rooftop installation time by over 50 percent,
requiring 70 percent fewer parts and 25 percent fewer rooftop attachment
"We are honored to have the opportunity to partner with Akeena Solar, in
the manufacturing of Andalay", said Dr. Zhengrong Shi, Suntech's Chairman and
CEO. "Our ability to manufacture an aesthetically pleasing and unique module
such as Andalay demonstrates the traction that we have gained by combining the
core competence of Suntech's manufacturing skills with our MSK division's
building integrated PV (BIPV) design skills. We believe Andalay will clearly
deliver an attractive and reliable solution to end-users, while providing
system integrators with a solution that can be installed faster and ultimately
result in lower install costs than ordinary systems."
Andalay will be introduced at a press conference just prior to the opening
reception of Solar Power 2007. Andalay panels are available from Akeena now,
and will be available to select solar industry partners in 2008.
Suntech will display its full range of products available in the U.S. at
the Solar Power 2007 Conference and Expo being held in Long Beach, CA. For
additional information, visit the Suntech exhibit booth in Hall B, Booth 364
at the Long Beach Convention and Entertainment Center.
About Akeena Solar, Inc.
Founded in 2001, Akeena Solar's philosophy is simple: We believe producing
clean electricity directly from the sun is the right thing to do for our
environment and economy. Akeena Solar has grown to become one of the largest
national installer of residential and small commercial solar power systems in
the United States, serving customers directly in California, New Jersey, New
York, Connecticut and Pennsylvania. For more information, visit Akeena Solar's
website at http://www.akeena.net .
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the
world as measured by both production output and capacity of solar cells and
modules. Suntech provides solar solutions for a green future. Suntech designs,
develops, manufactures, and markets a variety of high quality, cost effective
and environmentally friendly PV cells and modules for electric power
applications in the residential, commercial, industrial, and public utility
sectors. Suntech's majority-owned subsidiary, MSK Corporation is one of the
top-ranked companies in the building-integrated photovoltaics (BIPV) space.
Suntech's customers are located in various markets worldwide, including key
markets throughout Europe, North America, Japan and China. For more
information, please visit http://www.suntech-power.com .
Suntech America, Inc. is a wholly-owned subsidiary of Suntech Power
Holdings Co., Ltd., with responsibility for the distribution of Suntech
products in the Americas. For more information contact Roger Efird, tel: +1
(301) 774-3430 or email: email@example.com.
For more information about Akeena, please contact:
Barry Cinnamon, President and CEO
Akeena Solar, Inc.
Investor Relations Contact:
Lippert / Heilshorn & Associates
For more information about Suntech, please contact:
Investor Relations Manager
Suntech Power Holdings Co., Ltd.
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc.