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Suntech Announces Contract to Supply World's Largest Solar Power Plant

Suntech Power Holdings Co., Ltd.
2006-11-22 20:07 233607


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 largest installation.

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.

About Elecnor

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.

About Suntech

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 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. 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 law.

Source: Suntech Power Holdings Co., Ltd.
Keywords: Oil/Energy
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