SAN FRANCISCO, Oct. 23 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co.,
Ltd. (NYSE: STP) one of the world's leading manufacturers of photovoltaic (PV)
cells and modules, today announced the opening of its headquarters in San
Francisco. San Francisco Mayor Mr. Gavin Newsom and Suntech's Chairman and
CEO, Dr. Zhengrong Shi, officially opened the new headquarters office at a
press conference held at 2.30pm Pacific Time on Monday, October 22, 2007 at
the San Francisco City Hall.
''The establishment of Suntech's U.S. base in San Francisco reflects the
growing importance of the solar industry in San Francisco and a long-standing
commitment of the City to encourage investment in renewable energy,'' said
Dr. Zhengrong Shi, Suntech's Chairman and CEO, said: ''We are very pleased
to locate our U.S. headquarters in San Francisco and thank Mayor Newsom and
his team for their support. As we conducted our search for this site
throughout the U.S., we were particularly impressed by the awareness of
climate change issues, the quality and sophistication of the customers and
partners and the high level of talent within the San Francisco Bay Area and
California. In addition, we were very impressed with the progressiveness of
various Bay Area city governments as demonstrated by San Francisco and Oakland
with various public-private partnership initiatives to foster renewable energy.
We hope to participate more meaningfully within the community in broader
initiatives such as these.''
''We have already built a strong sales team across the U.S. that has
expanded sales nearly sixfold between 2006 and this year,'' continued Dr. Shi.
''In direct response to customer and partner feedback, we have created a U.S.
based team at this new headquarters to provide a diverse range of capabilities
to both supplement our sales efforts and accelerate our U.S. business
development initiatives. This expansion is also founded on our belief that
the U.S. will become the largest solar market globally in coming years. In
many ways, California has led that initiative having among the longest
histories of PV system adoption and most recently demonstrated by the $3.3
billion California Solar Initiative.''
San Francisco is also the site of two of Suntech's key projects in the U.S.
Together with its San Francisco-based partner Bass Electric, Suntech recently
completed a 500kW solar system at the San Francisco International Airport's
Terminal 3. In addition, Suntech collaborated with California-based Open
Energy Corporation to provide a glass-on-glass building integrated PV (BIPV)
solar system at the California Academy of Science which demonstrates growing
traction for the company's BIPV products in the U.S. Suntech also has
partnered with Bay Area company, Akeena Solar, Inc. to produce its patent-
pending high performance solar panel systems.
The contact details for Suntech new U.S. headquarters are:
188 The Embarcadero, Suite 800
San Francisco, CA 94105
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 about Suntech America's
product offerings please contact Tel: +1-415-882-9922, Fax: +1-415-882-9923 or
Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements,
and includes Suntech's expectation of the growth of the U.S. solar market and
Suntech's ability to accelerate business development initiatives. Such
statements involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking statements.
Further information regarding these and other risks is included in Suntech's
filings with the U.S. Securities and Exchange Commission, including its annual
report on Form 20-F. Suntech does not undertake any obligation to update any
forward-looking statement as a result of new information, future events or
otherwise, except as required under applicable law.
For more information, please contact:
Investor Relations Manager
Suntech Power Holdings Co., Ltd.
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc.