China's First 10MW Ground Mount Solar System Connects to the Grid
WUXI, China, Sept. 30 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd.
(NYSE: STP), the world's leading manufacturer of crystalline silicon
photovoltaic (PV) modules, today announced the completion and grid connection
of the first 10MW utility-scale solar power project in China. Located in
Shizuishan, Ningxia Autonomous Region, the 10MW ground mount solar system is
the first phase of a 50MW solar plant that is targeted to be completed by 2011
in conjunction with Suntech's strategic partner, China Energy Conservation
Investment Corporation (CECIC). In addition to supplying high quality solar
modules for the system, Suntech designed, installed and managed the
development of the solar system and holds a minority share of the project.
Dr. Zhengrong Shi, Suntech's Chairman and CEO said, ''Suntech is very
pleased and honored to play a leading role in the development of the first
on-grid 10MW solar PV power plant in China, which represents a major milestone
in the development of China's renewable energy industry. We applaud the
decisive steps taken by China's central government and local government to
support sustainable energy development and establish a greener economy in
China. With closer cooperation between strategic energy investors, power
developers and solution providers, I am confident that solar energy will
become increasingly cost effective and achieve grid parity in many locations
over the next few years.''
Mr. Longsheng Li, Deputy General Manager of CECIC commented, ''We believe
that plentiful, large-scale solar resources, powered by Suntech's premium
quality solar systems and system integration capabilities, can deliver decades
of clean, renewable electricity throughout many regions in China. We will
continue to actively promote the adoption of large-scale solar PV projects and
solutions for reducing carbon emissions and solving problems associated with
The 10MW solar system, which was approved by the Ningxia Autonomous Region
Development and Reform Commission in June, 2009, is powered by more than
37,000 Suntech solar panels and is projected to displace approximately 20,000
tons of carbon dioxide emissions per year.
Under a strategic agreement announced in 2009, Suntech and CECIC plan to
focus on the development of large scale on-grid solar projects, urban building
integrated PV projects, rural off-grid solar projects, and wind-solar hybrid
projects. For such projects, CECIC will primarily be responsible for project
investment and solar project development and Suntech will supply solar
products, system design, installation and technical support.
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.
Suntech designs and delivers commercial and utility scale solar power
systems in China and the United States. 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.
About China Energy Conservation Investment Co. Ltd. (CECIC)
CECIC is a wholly state-owned enterprise and the largest Chinese energy
company dedicated to environmental protection. Its primary focuses are energy
conservation, emissions reduction, waste treatment, environmental cleanup, and
new energy technology. Its current operations have resulted in the recycling
of 2 million tons of industrial waste, the reduction of 5 million tons of
carbon dioxide, and the substitution of 1.6 million tons of coal per annum.
CECIC-backed solar PV projects under contract and construction to date exceed
1.1GW of total installation capacity, making CECIC the largest solar PV
project investor and operator in China.
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 develop a 50MW solar plant in Shizuishan,
Ningxia Province, China by 2011; Suntech's grid parity in many locations over
the next few years; and the ability of the project to displace approximately
20,000 tons of carbon dioxide emissions per year. 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
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
Executive Vice President
SOURCE Suntech Power Holdings Co., Ltd.
In China: Suntech Power Holdings Co., Ltd., Rory Macpherson, Investor Relations Director, +86-21-6288-5574, or firstname.lastname@example.org; The Piacente Group, Inc. (Investor Relations Counsel, Suntech), Kristen McNally, Executive Vice President, +1-212-481-2050, or email@example.com