SAN FRANCISCO, April 14 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co.,
Ltd. (NYSE: STP) one of the world's leading manufacturers of photovoltaic (PV)
cells and modules, today announced it was named Frost & Sullivan's 2008 Solar
Energy Development Company of the Year. In granting the award to Suntech,
which recognizes a company for unparalleled excellence in design and delivery
of high-quality PV cells and modules and customization of energy solutions
catering to a global client base, Frost & Sullivan cited Suntech's outstanding
focus on R&D and wide spectrum of top-class, energy efficient solutions and
products that are sustainable, customizable and of the highest caliber.
Suntech will accept the award in a ceremony on April 15th in San Antonio,
"We are honored to receive such a designation, as it serves to further
validate our commitment to provide the most innovative, highest quality solar
energy products to customers around the world," said Dr. Zhengrong Shi,
Suntech's Chairman and Chief Executive Officer. "We are passionate about
working with our customers in anticipating tomorrow's energy needs today.
Only through continued innovation can we achieve this goal and truly fortify
our position as a global leader in solar energy."
While PV cells and modules ranging from 170 watts to 280 watts are the
mainstay of Suntech, Frost & Sullivan highlighted the Company's strong
capabilities in building integrated photovoltaic (BIPV) systems as
particularly noteworthy and innovative, strengthened by its acquisition of
Japanese BIPV specialist MSK in 2006. The MSK Solar Design Line, Suntech's
in-house developed, proprietary line of BIPV, has proven to be cost-effective
and versatile with a high aesthetic finish.
According to Frost & Sullivan, Suntech has exhibited impressive strides
toward recognition in China, South Korea, Japan, France, Greece, and Italy, in
addition to ranking among the top three suppliers in the three largest solar
markets of Germany, Spain and the United States. With expanding production
bases in Wuxi and Shanghai and plans to reach 1GW of PV cell production
capacity by the end of 2008, Suntech is set to leverage the ever-increasing
demand for clean, reusable and affordable solar power across the globe.
In order to better serve its global customer base, Suntech has recently
established local sales and service centers in Germany, Spain and South Korea
and plans to continue to expand its international network by launching offices
in Italy, Greece and Australia over the next 12 months.
About Frost & Sullivan
Frost & Sullivan, the Global Growth Consulting Company, partners with
clients to accelerate their growth. The company's Growth Partnership Services,
Growth Consulting and Career Best Practices empower clients to create a
growth-focused culture that generates, evaluates and implements effective
growth strategies. Frost & Sullivan employs over 45 years of experience in
partnering with Global 1000 companies, emerging businesses and the investment
community from more than 30 offices on six continents. For more information
about Frost & Sullivan's Growth Partnerships, visit http://www.frost.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 plans to achieve 1GW of PV cell production equipment by
the end of 2008, and plans to establish new offices in Italy, Greece and
Australia. 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
For more information, please contact:
Investor Relations Manager
Suntech Power Holdings Co., Ltd.
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc.
SOURCE Suntech Power Holdings Co., Ltd.