WUXI, China, Feb. 12 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co.,
Ltd. (NYSE: STP), one of the world's leading manufacturers of photovoltaic (PV)
cells and modules, today announced it has entered into multiple sales
agreements with Conergy AG, a leading solar system integrator in the world, to
provide it with various PV modules for its global projects. The Company
currently estimates that the value of the PV modules to be sold under these
agreements in 2007 is at least US$270 million and could increase depending
upon whether additional optional PV modules are exercised under the agreements.
''We are very pleased to be expanding our relationship with Conergy AG,''
said Dr. Zhengrong Shi, Suntech's chairman and CEO. ''The European and United
States markets are the largest and fastest growing solar markets in the world
and this agreement further solidifies Suntech's global strength which we
intend to continue to build upon, especially with our expanding on-the-ground
sales presence as demonstrated by our Suntech America and Suntech Europe
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 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 http://www.suntech-power.com .
Conergy AG is considered to be the highest volume solar company in Europe,
and also numbers among the leading international providers of other rapidly
growing fields of renewable energy, including bioenergy. Conergy pursues a
customer-oriented global growth strategy which aims to offer each energy
consumer worldwide what it believes to be the most appropriate technology in
attractive markets for renewable energies. In global markets, the energy
requirement for electricity, heat or cooling varies greatly. Conergy therefore
looks to offer a wide range of regenerative energy products, and has an
internationally oriented management team. The Conergy Group is now
represented with its own branch offices on five continents.
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 Suntech's sales to Conergy and its global sales initiatives 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 law.
For more information, please contact:
VP of Business Development
Suntech Power Holdings Co., Ltd.
In the US:
The Piacente Group
Ogilvy Public Relations Worldwide
SOURCE Suntech Power Holdings Co., Ltd.
/CONTACT: Steven Chan, VP of Business Development of Suntech Power
Holdings Co., Ltd., +86-510-8531-8910, or firstname.lastname@example.org; or in the US,
Brandi Piacente of The Piacente Group, +1-212-481-2050, or
email@example.com, or in China, Rory Macpherson, Consultant of
Ogilvy Public Relations Worldwide, +86-10-8520-6553, or
/Web Site: http://www.suntech-power.com /
CO: Suntech Power Holdings Co., Ltd.; Conergy AG
ST: China, Germany
IN: OIL CPR UTI
SU: ASI LIC
-- CNM015 --
4955 02/12/2007 08:00 EST http://www.prnewswire.com