SAN FRANCISCO, Dec. 1 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd.
(NYSE: STP), the world's leading manufacturer of crystalline silicon
photovoltaic (PV) modules, today announced it has signed a memorandum of
understanding ("MOU") with Ontario, Canada's Pure energies to supply up to
17MW in 2010. The MOU, which also provides a framework for module supply from
Suntech to Pure energies through 2011, is focused on bringing affordable,
high-quality solar systems to Ontario's rapidly growing residential solar
market.
Pure energies, while meeting the domestic content requirement for 2010,
will deploy Suntech's industry-leading panels for its unique offering to the
Ontario residential market, enabling the development of 'eco friendly' homes.
Pure energies installs, leases and operates the solar systems for its
customers. Pure energies' offering is bolstered by the Ontario Power
Authority's (OPA) microFIT Program, designed to encourage the development of
sub 10kW renewable energy projects across the province.
"Our agreement with Suntech is yet another win in establishing Pure
energies' brand name for the booming Ontario solar market," said Ryan McCalley,
Vice President and Co-Founder. "By securing Suntech's high quality panels and
reliable supply our customers can trust the quality and value they're getting
when they decide to take advantage of our unique offering."
"The Ontario solar market is on an exciting trajectory, due to recent
policy decisions and an eager customer base," said Leonard May, Managing
Director, North America Sales, Suntech. "We are confident in the innovative,
focused approach of Pure energies and are looking forward to seeing the
installations of Suntech panels spread across Ontario homeowner roofs next
year."
Pure energies will begin marketing Suntech panels immediately for
installations beginning in 2010.
About Pure energies
Pure energies is a Canadian company based in Toronto and founded by
Canadian solar and finance specialists. Pure energies is working with
recognized channel to market partners that ensure deployment volume. Pure
energies has the scale and density to streamline installations while buying
directly from the world's most recognized suppliers at terms and conditions
normally reserved for large project developers. Pure energies will provide,
install, finance, maintain and operate the deployed PV Solar systems. For
more information, please visit http://www.pure-energies.com .
About Suntech
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 its patent-pending Pluto technology for crystalline
silicon solar cells, which improves power output by up to 12% compared to
conventional production methods, its Reliathon(TM) module and platform, 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 availability of Suntech panels for sale by Pure energies in
2010, the success of the offering Pure energies is providing to Ontario
builders, and the growth of the Ontario solar market. 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 Pure energies:
Ryan McCalley,
Vice President and Co-Founder
Pure energies
Tel: +1-416-913-0787
Email: sales@pure-energies.com
For Suntech:
In the United States:
Sarahjane Sacchetti
Story Labs for Suntech America
Tel: +1-415-268-8881
Email: ssacchetti@suntechamerica.com
In China:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings Co., Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
SOURCE Suntech Power Holdings Co., Ltd.
For Pure energies, Ryan McCalley, Vice President and Co-Founder of Pure energies, +1-416-913-0787, or sales@pure-energies.com; Or for Suntech: in the United States, Sarahjane Sacchetti of Story Labs for Suntech America, +1-415-268-8881, or ssacchetti@suntechamerica.com; or in China, Rory Macpherson, Investor Relations Director of Suntech Power Holdings Co., Ltd., +86-21-6288-5574, or rory@suntech-power.com
