SAN FRANCISCO & SOUTH PLAINFIELD, N.J., June 9, 2009 /PRNewswire-Asia via COMTEX/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest manufacturer
of crystalline silicon photovoltaic (PV) modules and Petra Solar, Inc., a
designer and manufacturer of intelligent utility grade solar energy and smart
grid systems, today announced an alliance that will focus on marketing
utility-grade, pole mounted solar AC Systems as well as ongoing development of
AC module products. The alliance will target unique pole mounted applications
for utilities in the United States and the rest of the world.
Dr. Zhengrong Shi, Suntech's Founder, Chairman and CEO said, "We recognize
that Petra Solar is the leader in the development of innovative utility grade,
pole-mounted distributed PV systems. Their vision to create a market for
intelligent solar energy systems attached to utility poles and street lights,
which combines distributed solar generation and smart grid technology, has
great potential for Suntech. We are excited about the value that we can bring
to utility customers as a result of working with Petra Solar."
"Suntech's global reach and well deserved reputation for market leading
products provide compelling value to the utility market in the United States
and around the globe," said Dr. Shihab Kuran, Founder, President and CEO of
Petra Solar. "Suntech has the world's largest crystalline silicon module
manufacturing capacity and we look forward to expanding our market coverage to
address all segments of the global utility market as a result of this
alliance." Dr. Kuran continued, "We applaud Suntech's decision to establish
manufacturing capabilities in the United States and are confident that this
will contribute to the rapid deployment of our products in the U.S. We are
confident that the Suntech-Petra Solar collaboration will lead to the creation
of many green jobs."
Petra Solar's SunWave(TM) utility grade solar AC systems are designed to
mount quickly and safely to utility distribution and streetlight poles and
deliver power directly to the grid. The systems consist of a high efficiency
PV module and integral line voltage inverter with comprehensive communications
and smart grid capabilities.
Petra Solar's AC Module has received CSA Certification according to UL
standards. In addition, Petra Solar received CSA Qualification for Witness
Testing for its manufacturing facility in South Plainfield, NJ, where AC
modules and systems will be manufactured.
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar
energy company as measured by production output of crystalline silicon
photovoltaic (PV) 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.
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 Petra Solar, Inc.
Petra Solar designs and manufactures intelligent utility grade SunWave(TM)
solar energy solutions that combine distributed solar generation with Smart
Grid technology. These systems allow utilities to deploy significant solar
generation faster, utilizing existing assets and time tested deployment
strategies. Petra Solar's products are backed by a strong and exclusive IP
portfolio of over 15 granted and pending patents. In addition to providing
reliable, cost effective solar infrastructure, Petra Solar also works with
lawmakers and regulators to help utilities rapidly realize the benefits of
bringing solar generation online. The Petra Solar team is uniquely equipped to
provide Utility ROI analysis and greatly accelerate deployment of utility
grade solar systems. Please visit www.petrasolar.com for more information.
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 ability of the alliance to market utility grade, pole mounted
solar AC systems and develop AC module products, the market opportunity Petra
Solar's distributed solar generation and smart grid technology presents to
Suntech, and the ability to create jobs in the U.S. as a result of the
alliance. 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:
Suntech Power Holdings Co., Ltd.
Investor Relations Director
Petra Solar, Inc.
SOURCE Suntech Power Holdings Co., Ltd.