Agreement strengthens both companies' ability to respond to President Obama's
call to 'harness the sun'
SAN FRANCISCO and GAITHERSBURG, Md., Jan. 27 /PRNewswire-Asia/ -- Suntech
Power Holdings Co., Ltd. (NYSE: STP), the world's leading manufacturer of
photovoltaic (PV) modules, and Standard Solar, Inc. are looking forward to
powering cleaner energy solutions throughout the Mid-Atlantic U.S. under a new
agreement by which Suntech will supply up to 5 megawatts of photovoltaic solar
panels to the Maryland-based solar developer and installer during 2009.
"Partnering with Suntech, a top-tier manufacturer offering a broad
assortment of high-quality solar panels, better equips Standard Solar to
fulfill its rapidly growing customer requirements from New Jersey and
Pennsylvania to North Carolina and Virginia," said Scott Wiater, Vice
President of Procurement at Standard Solar.
"Suntech looks forward to partnering with Standard Solar in supplying
cleaner, cost-effective solutions to businesses, government agencies and
homeowners. In addition to reducing the dependence on highly polluting fossil
fuels, we believe that the solar industry can also help to generate new
domestic, green jobs," said Roger Efird, President, Suntech America, Inc.
In his address after taking the oath of office and becoming the nation's
44th President, Barack Obama called for Americans to "harness the sun . . .
to meet the demands of a new age."
"This agreement," said Standard Solar President and Chief Executive
Officer Anthony Clifford, "strengthens our ability to respond to this
challenge. We cannot agree more with our new President when he added from the
West front of the U.S. Capitol: "All this we can do. And all this we will do."
Standard Solar looks forward to deploying Suntech's high-quality panels in
solar solutions that deliver cost-effective power. Recently, Standard Solar
helped Kelly & Sons Electrical Construction source its electricity supply
through a power purchase agreement with Washington Gas Energy Services. Find
more information about this power purchase agreement at
Suntech recently achieved 1 gigawatt of global solar panel production
capacity. In doing so, it completed an 18,000 square meter, 1 megawatt solar
facade -- the world's largest to date -- at its new world headquarters in
Wuxi, China. You can find a photo of this precedent-setting application on
Suntech's website at http://www.suntech-power.com under Press: Press Assets.
About Standard Solar
Standard Solar is a full-service, turnkey solar system developer and
integrator specializing in residential and commercial solar power
installations in Maryland and the surrounding states. With hundreds of
installations to date, Standard Solar is well-positioned to meet the growing
demand for clean technologies and renewable sources of energy. The company has
added more than 50 green collar jobs in the past year. For more information,
please visit: www.StandardSolar.com.
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 the United
States 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
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 Suntech's ability to supply 5MW of solar panels. 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)
Vice President & Chief Marketing Officer
Standard Solar, Inc.
SOURCE Suntech Power Holdings Co., Ltd.
/CONTACT: Suntech: In China: Rory Macpherson, Investor Relations
Director, Suntech Power Holdings, Co. Ltd., +86-21-6288-5574,
firstname.lastname@example.org; In the United States: Sanjay M. Hurry, Vice President,
The Piacente Group, Inc. (Investor Relations Counsel, Suntech),
+1-212-481-2050, email@example.com; Standard Solar: Jim Pierobon, Vice
President & Chief Marketing Officer, Standard Solar, Inc., +1-301-944-5133,
/Web site: http://www.suntech-power.com
CO: Suntech Power Holdings Co., Ltd.; Standard Solar, Inc.
ST: Maryland, California, China
IN: ALT OIL ENV
SU: JVN ASI
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3331 01/27/2009 08:00 EST http://www.prnewswire.com