SAN FRANCISCO and WUXI, China, July 13 /PRNewswire-Asia/ -- Suntech Power
Holdings Co., Ltd. (NYSE: STP), the world's largest crystalline silicon
photovoltaic (PV) module manufacturer, announced today that it has recently
entered into a number of strategic agreements with each of Shaanxi provincial
government, Shizuishan city government, Ningxia province, Qinghai provincial
government and Panzhihua city government, Sichuan province to develop 300MW,
500MW, 500MW and 500MW of solar projects respectively. These projects, with an
aggregate of 1.8GW, are expected to be developed in several stages.
The implementation of these projects is subject to the satisfaction of a
number of conditions including obtaining related permits from the National
Development and Reform Commission and other relevant government bodies;
drafting project designs; and attracting the necessary investment and project
financing to implement the projects. These provinces enjoy significant solar
resources making them ideal locations to generate solar electricity.
Dr. Zhengrong Shi, Suntech's Chairman and CEO, said, "These strategic
agreements demonstrate the commitment of governments of Shaanxi, Shizuishan,
Qinghai and Panzhihua to adopt utility scale solar energy to power sustainable
development. Plentiful solar resources combined with Suntech's premium quality
solar systems can deliver decades of clean, renewable electricity throughout
many regions in China. With ongoing investment in technology and innovation,
Suntech is determined to continue to drive the cost to grid parity and
encourage greater adoption of solar throughout China."
Suntech's system integration team is one of the most experienced and
capable in China. They have completed a range of technically complex building
integrated solar systems, including the 120kW Beijing Jingya Hotel curtain
wall, an 800kW Light Thru system at the Wuxi Airport, and the 1MW building
integrated PV (BIPV) facade at Suntech's new headquarters in Wuxi. Suntech's
system integration team is in the process of implementing a 1.5MW rooftop
project in Huaian city, Jiangsu province and a 3MW BIPV solar system for the
Shanghai World Expo.
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar
energy company as measured by production output of crystalline silicon 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
Suntech designs and delivers commercial and utility scale solar power
systems through its wholly owned subsidiary 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 Renewable
Ventures, a Fotowatio company. 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 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 ability to secure permits from the NDRC for the
projects in Shaanxi province, Shizuishan city, Qinghai province and Panzhihua
city; the ability to secure investment and project financing; the ability to
implement the projects Shaanxi Province, Ningxia Province, Qinghai Province
and Panzhihua City; and the ability to drive the cost to grid parity. 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.
Investor Relations Director
Suntech Power Holdings Co., Ltd.
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
SOURCE Suntech Power Holdings Co., Ltd.
/CONTACT: In China: Rory Macpherson, Investor Relations Director, Suntech
Power Holdings Co., Ltd. at +86-21-6288-5574 or email@example.com; In the
United States: Sanjay M. Hurry, Vice President, The Piacente Group, Inc.
(Investor Relations Counsel, Suntech) at +1-212-481-2050 or
/Web site: http://www.suntech-power.com /
CO: Suntech Power Holdings Co., Ltd.
IN: OIL ENV UTI GRE
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8900 07/13/2009 08:00 EDT http://www.prnewswire.com