- Recent Initiative Reflects Growing Demand Throughout Asia Pacific -
WUXI, China, March 17 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of crystalline silicon photovoltaic modules, will supply solar panels for what will be the biggest solar power plant in Taiwan. Owned and operated by the Taiwan Power Company, and developed by Fortune Electric Co., Ltd., the new 4.7MW solar plant in Young'an, Kaohsiung, Taiwan, will nearly double the island's current installed solar capacity of about 5MW.
"We chose Suntech modules for superior performance and reliability, as seen in utility-scale installations across Asia, Europe, and the Americas," said Liao Wen Sing, Vice President of Fortune Electric Co., Ltd. "We look forward to working with Suntech on this momentous project - hopefully the first of many large-scale solar plants in Taiwan."
Delivery of the 16,640 advanced polycrystalline modules, each with a peak power output of up to 280 watts, will begin in June 2010. The system is scheduled to start supplying decades of clean power in early 2011. The project is a milestone in Taiwan's efforts to raise renewable energy production capacity by more than 10GW in the next 20 years, diminish its reliance on imported fossil fuels, and to reduce carbon emissions to year-2000 levels by 2025. Given the island's abundant sunlight, solar is expected to comprise a substantial share of Taiwan's future energy portfolio.
"We have great expectations for the entire region. Asia and the Pacific already account for about one-third of the world's total energy demand, although its per-capita consumption is far less than the world's average," said Roger Ye, Suntech's President of Asia Pacific, Middle East, and Africa (APMEA). "The region's booming populations, strong economic growth engines, and abundant sunlight represent an exciting opportunity for solar and for Suntech." According to a November 2009 report by the Asian Development Bank, energy demand in Asia and the Pacific will grow by an estimated 2.4 percent annually for the next twenty years, a cumulative 80% increase between 2005 and 2030.
Suntech's industry-leading products have already been utilized all around the region, including in Japan, Indonesia, the Philippines, Australia, Korea, Thailand and mainland China, among others. Around the world, Suntech has delivered products to thousands of customers in more than 80 countries. This global track record is a key differentiator for the brand in both established and emerging solar markets, according to Suntech executives.
"The global nature of our operations and experience provides a unique competitive advantage as we grow in emerging Asian markets and around the world," said Dr. Zhengrong Shi, Chairman and CEO of Suntech. "We are working across borders and regions to power sustainable economic growth everywhere under the sun."
About Suntech Power
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 residential, 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 delivery date of modules to the plant, the completion date of the plant, the ability of Taiwan to achieve its goals in renewable energy, and the growth of energy consumption in Asia and the Pacific. 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:
For Suntech Power:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings Co., Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
Walker E. Frost
Senior Supervisor
Marketing & Communications
Suntech Power Holdings Co., Ltd.
Tel: +86-21-6288-5574
Email: walker.frost@suntech-power.com
