SCHAFFHAUSEN, Switzerland, Dec 09, 2009 /PRNewswire-Asia via COMTEX/ -- Suntech Power
Holdings Co., Ltd. (NYSE: STP), the world's leading manufacturer of
crystalline silicon photovoltaic (PV) modules, today announced it has signed
three long-term supply agreements for up to 490MW of high performance solar
modules to be delivered over the next three years. Three of Suntech's
strategic long-term partners in Europe including a value-added reseller, an
EPC (engineering, procurement and construction) company, and a project
developer, signed the agreements to secure access to Suntech's market leading
solar modules and to develop closer collaboration on market information,
shipment planning, and new product roll-outs.
"Customers choose to partner with Suntech because of our proven commitment
to quality, reliability and performance, which is backed up by over 1.5GW of
installations," said Jerry Stokes, Suntech's VP of Strategy and Business
Development. "With the solar market expected to resume strong annual growth in
2010 and beyond, it is essential for both our partners and Suntech to gain a
clearer understanding of future market drivers and project pipelines. This
will enable us to align product specifications, performance and market demand
with capacity expansion and to differentiate our products and the solutions
offered by our partners."
Under the terms of the agreements, 115MW is planned to be supplied in 2010,
155MW in 2011 and 220MW in 2012, with the option to increase volumes. Suntech
anticipates concluding additional long-term supply agreements during the next
few months reflecting a "flight to quality" solar companies that have bankable
products, and the capability and credibility to support long-term growth.
David Hogg, Head Suntech Europe, added, "Suntech is a continually
innovating, technology driven company. One example of this is our recently
launched HiPerforma module incorporating Pluto cell technology, which holds
the world record conversion efficiency for a polycrystalline PV module.
Advance knowledge of such new product roll-outs and enhancements will enable
our partners to specify Suntech products early in the design process, leading
to superior system performance and stronger financial returns. This is
especially important for large-scale project development that may take over 12
months from initial design through permitting and construction."
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 ability of Suntech to supply up to 490MW to the customers
within the next three years, the ability to align product specifications,
performance and market demand with capacity expansion and to differentiate our
products and the solutions offered by our partners, the ability of Suntech to
sign additional long term supply agreements, and the ability of the solar
market to resume strong annual growth in 2010 and beyond. 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:
Marketing Director Europe
Suntech Power Ltd.
Investor Relations Director
Suntech Power Holdings Co., Ltd.
In the United States:
Executive Vice President
The Piacente Group, Inc.
SOURCE Suntech Power Holdings Co., Ltd.