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.
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"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 units."
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 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 .
About Conergy
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:
Steven Chan
VP of Business Development
Suntech Power Holdings Co., Ltd.
Tel: +86-510-8531-8910
Email: ir@suntech-power.com
In the US:
Brandi Piacente
The Piacente Group
Tel: +1-212-481-2050
Email: brandi@thepiacentegroup.com
In China:
Rory Macpherson
Consultant
Ogilvy Public Relations Worldwide
Tel: +86-10-8520-6553
Email: rory.macpherson@ogilvy.com
