WUXI, China, Nov. 22 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co.,
Ltd. (NYSE: STP), one of the world's leading manufacturers of photovoltaic (PV)
cells and modules, has announced it has recently entered into a solar module
supply contract with Atersa, a subsidiary of Elecnor Group, one of Spain's
leading project planning and integrated management and infrastructure
development companies. In one of its largest and most sophisticated projects
to date, Suntech will supply solar modules with an aggregate output of 23.2MW
to Atersa for installation in the Photovoltaic Grid Connection Park in the
Extremadura region of Spain. It is expected that these solar modules will be
supplied within the first half of 2007.
''Atersa has broad experience in energy integration products and we are
pleased to be able to work with them to build this Photovoltaic Park,'' said
Dr. Zhengrong Shi, Suntech's Chairman and CEO. ''With Spain's recently
enacted feed-in-tariffs and a climate favorable to solar energy production we
expect that Spanish demand for solar products will grow rapidly in coming
years. Suntech aims to be a long term provider of quality PV products in Spain
and this project is a critical part of that effort.''
''After a careful evaluation of potential partners and suppliers for this
landmark Photovoltaic Grid Connection Park, we chose Suntech as we were highly
satisfied with the value and quality of their product,'' said Mr. Virgilio
Navarro, Atersa's CEO. ''We look forward to working closely with Suntech as
part of this project.''
The Photovoltaic Park will cover an area of 65 hectares and have more than
120,000 solar modules. When completed, it will be the largest such power
plant in the world, generating over three times more energy than the next
Suntech's sales in Spain have already grown to account for nearly 12% of
total revenue in the third quarter of 2006 and this project will greatly
increase the Company's presence in this market.
The Elecnor Group is one of Spain's leading companies in the field of
project planning and integrated management and infrastructure development,
operating in the areas of energy, electricity, installations, gas,
telecommunications, railways, the environment, water, operation and
maintenance and construction. The Elecnor Group currently has a presence in
over 30 countries, with its main markets lying in Central America, South
America, French- and Portuguese-speaking Africa and the Middle and Far East.
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the
world as measured by both production output and capacity of solar cells and
modules. Suntech provides solar solutions for a green future. Suntech designs,
develops, manufactures, and markets a variety of high quality, cost effective
and environmentally friendly PV cells and modules for electric power
applications in the residential, commercial, industrial, and public utility
sectors. Suntech's majority-owned subsidiary, MSK Corporation is one of
Japan's largest PV manufacturers and one of the top-ranked companies in the
building-integrated photovoltaics (BIPV) space. Suntech's customers are
located in various markets worldwide, including key markets throughout Europe,
Japan, China and the United States. For more information, please visit
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. Among other things, Suntech's expectations with
respect to their agreement with Elecnor contain forward-looking statements.
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
For more information, please contact:
VP of Business Development
Suntech Power Holdings Co., Ltd.
Ogilvy Public Relations Worldwide
In the United States:
Senior Vice President
Ogilvy Public Relations Worldwide
SOURCE Suntech Power Holdings Co., Ltd.
/CONTACT: In China - Steven Chan, VP of Business Development of Suntech
Power Holdings Co., Ltd., +86-510-8531-8910, or firstname.lastname@example.org; or Rory
Macpherson, Senior Associate, Ogilvy Public Relations Worldwide,
+86-10-8520-6553, or email@example.com, or in the United States -
Thomas Smith, Senior Vice President, +1-212-880-5269, or
firstname.lastname@example.org, both of Ogilvy Public Relations Worldwide, for
/Web Site: http://www.suntech-power.com /
CO: Suntech Power Holdings Co., Ltd.; Elecnor Group
ST: China, Spain
IN: OIL UTI ENV
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8757 11/22/2006 08:00 EST http://www.prnewswire.com