SAN FRANCISCO and SYDNEY, April 22 /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 Suntech
Australia that will be focused on sales and business development in Australia,
New Zealand and the Pacific Islands.
''With abundant sunlight and low population density, Australia is ideally
suited to distributed solar energy generation, and well-placed to take a
leading role in the development and utilization of this clean and sustainable
energy solution,'' said Dr. Zhengrong Shi, Suntech's Chairman and Chief
Executive Officer. ''Australia's ratification of the Kyoto protocol and
increasing State support for solar projects reflects the broader community's
growing interest in renewable energy and environmental sustainability.
Suntech is committed to supporting this trend through investment in
Australia's solar industry, and the provision of premium quality solar
Dr. Shi added, ''With our new base in Sydney and continued collaborative
efforts with local and regional partners, we will strive to promote the
long-term development of the solar industry in Australia, New Zealand and
neighbouring Pacific Islands.''
Suntech's Australia Connections
Dr. Zhengrong Shi, an alumnus of the University of NSW, and Suntech have
maintained strong connections with the Australian solar industry. Suntech and
the Centre of Excellence in Advanced Silicon Photovoltaics and Photonics of
the University of New South Wales Australia have enjoyed long term
collaboration on the research and development of cutting-edge solar
technologies that target to increase PV cell conversion efficiency and
decrease solar energy cost per watt. As part of the collaboration, Suntech
has provided funding for solar research projects and the two organizations
have mutually shared benefits produced from such efforts. In addition,
Suntech also provides funding for a number of UNSW undergraduate and
postgraduate scholarships for training in the area of photovoltaic engineering.
''Coming from a scientific research background, I take great pleasure in
providing opportunities for up and coming scientists in this dynamic
industry,'' commented Dr. Shi. ''Suntech's relationship with the University of
NSW brings a commercial focus to research projects and supports the education
and development of some of the world's best talent in solar R&D. At the same
time, many of the technologies developed through the collaboration can be
applied in mass production and facilitate lower cost per watt production of
One technology coming from the research collaboration, named the Pluto
technology, is already achieving 18% to 19% conversion efficiency on
mono-crystalline PV cells in pilot production - well above the industry
average of 16%. Suntech plans to transfer Pluto technology to commercial
production in 2008.
The contact details for Suntech Australia are:
Unit 7, 24-28 Skarratt Street North,
Silverwater, NSW 2128, Australia
Tel: +61 (2) 9648 5600
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 promote development of the solar industry in
Australia, New Zealand and the Pacific Islands, the ability of collaboration
efforts with UNSW to develop new solar technologies, and the ability to apply
Pluto technology to commercial production. 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.