--Agreement to Distribute 30MW of Suntech Products in 2009TOKYO and WUXI, China, Feb 25, 2009 /PRNewswire-Asia via COMTEX/ -- Suntech Power Holdings
Co., Ltd. (NYSE: STP), the world's leading manufacturer of photovoltaic (PV)
modules, today announced that it has established an agreement with House Care
Co. Ltd, a subsidiary of West Holdings Group, under which House Care will
become an authorized distributor of Suntech in Japan and distribute 30MW of
Suntech solar products in 2009.
''House Care is one of Japan's leading providers of innovative roofing
systems and we are delighted to establish a fruitful partnership with them to
distribute Suntech modules in Japan,'' said Dr. Tadao Kasahara, President of
MSK Corporation, a Suntech subsidiary. ''With targets to reach 4.8 gigawatts
of installed solar capacity in 2010 and renewed support from Japan's Ministry
of Economy, Trade and Industry, we are confident that the local solar market
will grow strongly in 2009 and beyond. We intend to form long-term, mutually
beneficial relationships with Japanese solar distributors and encourage the
further adoption of solar technology in Japan.''
President of West Holdings Group, Mr. Takashi Kikkawa, said, ''Suntech's
esteemed project history and reputation for producing the highest quality
solar products was a key factor influencing our decision to choose Suntech.
Through integrating solar systems and other environmentally friendly building
products into Japanese buildings, we are committed to improving energy
efficiency and sustainable living in Japan. Solar will play an important role
in achieving this goal.''
Japan was one of the first countries to stimulate the growth of the solar
industry through the introduction of solar subsidies in 1994. Since then it
has incubated some of the world's most advanced solar technology and become
home to the second largest amount of installed solar systems. Japan targets to
more than double cumulative solar installations to reach 4.8 gigawatts of
solar capacity in 2010.
About House Care
House Care Co. Ltd, a subsidiary of West Holdings Group, is a leading
provider of innovative roofing solutions and environmentally friendly house
renovation products such as solar systems, home insulation and energy
efficient products in Japan.
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 production methods.
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 includes the expectation of the growth of the Japanese solar market in
2009 and beyond, the ability to enter into additional solar distributor
arrangements in Japan, and House Care's ability to distribute 30MW of Suntech
products in 2009. 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 Director
Suntech Power Holdings Co., Ltd.
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc.
SOURCE Suntech Power Holdings Co., Ltd.