SAN FRANCISCO, April 2, 2008 /Xinhua-PRNewswire/ -- Suntech Power Holdings
Co., Ltd. (NYSE: STP) one of the world's leading manufacturers of photovoltaic
(PV) cells and modules, today announced a 4MW module supply agreement with
Enerray, an Italian designer, developer and manager of photovoltaic systems.
The Suntech modules will be installed by Enerray in PV systems for the
rooftops of large Italian industrial complexes.
"The Italian government's proven commitment to renewable energy has fueled
significant solar market growth in the region. Suntech is resolute in
supporting utilization of renewable energy resources through the supply of
high quality and reliable solar products to European PV system providers such
as Enerray," said Jerry Stokes, President of Suntech Europe.
Italy is an avid supporter of the solar industry with attractive
feed-in-tariffs of EUR0.36/kWh for ground-mounted PV systems and EUR0.44/kWh
for buildings integrated PV systems. The current government regulations have
set the total feed-in-tariff program cap to 1.2GW before a re-evaluation of
the solar program.
"We are experiencing significant demand for the deployment of commercial
rooftop solar systems," said Dr. Eng. Marco Ghirardello, Chief Executive
Officer of Enerray. "As one of Italy's leading installers of photovoltaic
systems, we have chosen to partner with the well respected Suntech brand to
bring their superior quality solar products to key projects in high commerce
cities across Italy."
Europe is currently the largest regional market for solar photovoltaic
systems with countries such as Germany, Spain and Italy experiencing rapid
annual growth. In order to better serve customers in the region, Suntech has
recently established local sales and service centers in Germany and Spain and
plans to continue to expand its European network by establishing offices in
Italy and Greece over the next 12 months.
Enerray is a company that designs, develops and manages photovoltaic
systems of medium and large size. Thanks to its design and business network
located in the most important Italian cities, Enerray operates throughout the
whole of the Italian territory. The economies of scale that Enerray has
obtained with its projects make it competitive also in the supply of modules,
inverters and other components to installers of photovoltaic systems. For
more information, please visit http://www.enerray.com .
Suntech Power Holdings Co., Ltd. is a world leading solar energy company
as measured by both production output and capacity of solar cells and modules.
Suntech is passionate about improving the environment we live in and dedicated
to developing advanced solar solutions that enable sustainable development.
Suntech designs, develops, manufactures, and markets a variety of high quality,
cost effective and environmentally friendly solar products for electric power
applications in the residential, commercial, industrial, and public utility
sectors. Suntech offers one of the broadest ranges of building integrated
photovoltaic (BIPV) products under the MSK product line. Suntech has sales
offices worldwide and is a market share leader in key global solar markets.
For more information, please visit http://www.suntech-power.com .
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 Italian solar market,
Suntech's ability to deliver PV modules according to the agreement and
Suntech's ability to expand its distribution network in Europe through the
opening of new offices in Italy and Greece. 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.