WUXI, China, Nov. 13 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd.
(NYSE: STP), the world's leading manufacturer of crystalline silicon
photovoltaic (PV) modules, today announced that it expects to develop
approximately 20% of the 91MW of solar projects that were approved under
China's Solar Rooftop Program.
China's Solar Rooftop Program, which was launched in March this year by
the Ministry of Finance, is designed to increase the energy efficiency of
buildings through the installation of building-attached and building-
integrated PV solar systems. The first set of applications was submitted in
April, and recently 111 solar projects totaling 91MW across China were
approved to receive funds through the program. The system owners are expected
to receive a 13-17RMB per watt rebate for all projects approved through the
program. Suntech targets to develop approximately 20% of the successful
applications and will also participate as the system owner or partial investor
in some projects. Suntech has completed 4MW of its approved projects and plans
to develop the remainder by mid-2010. Specific project agreements will be
signed prior to implementation.
"Building energy use accounts for roughly 28% of total energy consumption
in China and is a critical front in the drive to achieve higher energy
efficiency and reduce carbon emissions," said Dr. Zhengrong Shi, Suntech's
Chairman and CEO. "The Ministry of Finance Solar Building Program recognizes
the huge opportunity to offset building energy consumption with integrated
solar energy generation. We are very pleased to demonstrate the capability of
this technology and we hope to see this valuable solar program expanded in
2010 and beyond."
The Solar Rooftop Program places particular emphasis on technologically
advanced, building-integrated solar systems. Suntech has one of the industry's
broadest portfolios of BIPV products and a highly experienced system design
and integration team that can implement complex turnkey solar projects.
Suntech's new Green Energy Headquarters in Wuxi that incorporates a 1MW BIPV
solar facade and rooftop system was designed and constructed by Suntech's in-
house team and is one of the projects approved to receive the rebate.
"Solar is an ideal solution to improve energy efficiency as it can be
built into the skin of a building and serves the dual function of a building
material and an energy generating system. We should view the countless
rooftops across China as an underutilized resource that can easily support
clean, distributed energy generation," added Dr. Shi.
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 offers an extensive range of customer-centric
innovations, including Suntech's patent-pending Pluto technology for
crystalline silicon solar cells, which improves power output by up to 12%
compared to conventional production methods, the Reliathon(TM), the industry's
first fully integrated utility-scale solar platform, and its broad range 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 .
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 percentage of approved systems under the Solar Rooftop
Program that are Suntech projects; the expected per watt rebate to be received
by systems owners; the ability to develop the projects by mid-2010; Suntech's
ability to sign related project agreements; Suntech's ability to successfully
develop the solar projects approved by the Ministry of Finance; and Suntech's
ability to benefit from the Subsidy Program. 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 more information, please contact:
Investor Relations Director
Suntech Power Holdings Co., Ltd.
In the United States:
Executive Vice President
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
SOURCE Suntech Power Holdings Co., Ltd.
In China: Rory Macpherson, Investor Relations Director at Suntech, +86-21-6288-5574, firstname.lastname@example.org; In the United States: Kristen McNally, Executive Vice President of the Piacente Group, Inc. (Investor Relations Counsel, Suntech), +1-212-481-2050, email@example.com