SAN FRANCISCO and WUXI, China, Jan. 19 /PRNewswire-Asia/ -- Suntech Power
Holdings Co., Ltd. (NYSE: STP), the world's leading manufacturer of
photovoltaic (PV) modules, today announced it has supplied 5MW of Suntech
solar panels for a 10MW solar electricity system to power Masdar City, the
world's first carbon neutral city being built in Abu Dhabi, United Arab
Emirates. The panels will form part of the largest solar plant in the Middle
East and is being built and designed by leading Abu Dhabi based solar power
system integrator, Enviromena Power Systems "Enviromena".
"We are delighted to collaborate with Masdar, a wholly owned company of
the government of Abu Dhabi through the Mubadala Development Company, and
Enviromena on the development of this landmark solar project in the Middle
East," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "Masdar City is a
revolutionary concept that will greatly influence the future of global urban
development. Solar energy systems are the ideal solution for Masdar City as
electricity generated will coincide with peak energy usage during the middle
of the day. We look forward to working with Enviromena on this and future
solar projects in the Middle East." Dr. Shi emphasized, "This 10MW system is
expected to generate over 17 million kilowatt-hours per year and reduce carbon
emissions by over 15,000 metric tons annually."
With a total investment of approximately $15 billion, Masdar City will
take eight years to build and be home to 50,000 people and 1,500 businesses.
The city, which will cover 6.5 square kilometers, will be primarily powered by
solar energy and employ a broad range of innovative energy efficient
technologies including electric travel pods, waste and water recycling,
natural ventilation and shading. Masdar City's 10MW solar farm will provide
power for the construction and eventual operations of parts of Masdar City.
"Enviromena is excited to be working with Suntech on this ground breaking
project for alternative energy in the region. With growing recognition of the
need for alternative energy solutions in the Middle East there is sure to be
strong demand for solar projects, an exciting prospect for the industry to
look forward to," Enviromena CEO & President Sami Khoreibi commented.
"Enviromena has worked hard to secure a team of highly talented engineers and
project managers from around the world and when choosing partners like Suntech,
we ensure that clients are provided with high quality, low maintenance clean
energy solutions to their power needs and we are excited to see this
technology implemented on a wider scale."
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar
energy company as measured by production output of solar modules. Suntech
designs, develops, manufactures, and markets premium-quality, high-output,
cost-effective and environmentally friendly solar products for electric power
applications in the residential, commercial, industrial, and public utility
sectors. Suntech's patent-pending Pluto technology for crystalline silicon
solar cells improves power output by up to 12% compared to conventional
Suntech also offers one of the broadest ranges of building-integrated
solar products under the MSK Solar Design Line(TM). Suntech designs and
delivers commercial and utility scale solar power systems through its wholly
owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and
will own and operate projects greater than 10 megawatts in the United States
through Gemini Solar Development Company, a joint venture with MMA Renewable
Ventures. With regional headquarters in China, Switzerland and San Francisco
and sales offices worldwide, Suntech is passionate about improving the
environment we live in and dedicated to developing advanced solar solutions
that enable sustainable development. For more information, please visit
About Enviromena Power Systems
Enviromena is an Abu Dhabi based solar power system integrator dedicated
to meeting the growing energy needs of the MENA region. Our solar power
solutions create clean power, actively contributing to reducing climate change
and creating a sustainable future.
The company's highly experienced team designs, supplies and installs
turnkey photovoltaic power systems for utility scale, commercial and
residential applications. Other services include design and installation of
solar hot water systems and solar powered lighting products.
For more information, please visit http://www.suntech-power.com .
The Masdar Initiative is Abu Dhabi's multi-faceted investment in the
development and commercialization of innovative technologies in renewable,
alternative and sustainable energies as well as sustainable design. Masdar is
driven by the Abu Dhabi Future Energy Company (ADFEC), a wholly owned company
of the government of Abu Dhabi through the Mubadala Development Company. In
January 2008, Abu Dhabi announced it will invest $15 billion in Masdar, the
largest single government investment of its kind. For more information about
the Masdar Initiative, please visit http://www.masdaruae.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 include the ability to successfully install the solar system, the
reduction of carbon emissions the solar system is expected to achieve, the
amount of power the solar system will be able to generate, and the scheduled
completion date of the solar system. 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 further information please contact
Investor Relations Director
Suntech Power Holdings, Co. Ltd.
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
Marketing and Communications Manager