WUXI, China and LONG BEACH, Calif., Oct. 1 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's leading manufacturers of photovoltaic (PV) cells and modules, welcomed over 200 customers, partners and industry colleagues to a celebration of Moon Festival Night on Tuesday, September 25 at the Solar Power 2007 Conference and Expo in Long Beach, California which is North America's largest solar energy event.
The Moon Festival, also known as the Mid-Autumn Festival, is a popular Chinese celebration of abundance and togetherness, first celebrated over 3,000 years ago during China's Zhou Dynasty.
At the Moon Festival Night reception Dr. Zhengrong Shi, Suntech's Chairman and CEO, spoke of the need to address global warming: "As pioneers in the renewable energy industry, we have an obligation to confront the issues of climate change and promote efficient and sustainable energy use. I believe that solar power will become one important part of a solution to this mounting problem."
During the three day Solar Power 2007 Conference and Expo the Company noted extremely strong demand for Suntech's leading range of high performance PV products in 2008 leading to both higher demand and firmer pricing than originally anticipated. During 2007, Suntech's sales to the U.S. have grown approximately five times from approximately 7MW of solar modules in 2006.
Roger Efird, President of Suntech America said, "Since first supplying to the U.S. solar market in mid-2006, we have enjoyed tremendous support from our customers and partners and we now believe that we are one of the top three suppliers of solar modules to the U.S. In 2008 we intend to build on this success and have more than enough order demand to continue our exponential growth to achieve upwards of 100MW of sales in North America."
Len May, Suntech America's VP of Business Development for MSK BIPV Products, also noted that there was growing interest in Suntech's portfolio of BIPV including the recently launched Black Label module and semi-transparent glass-on-glass solar products. Mr. May commented, "Customers are increasingly aware of the benefits of integrating solar energy generating modules into the building fabric. Our broad range of BIPV solutions gives them the flexibility to do this in a variety of ways."
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 .
Suntech America, Inc. is a wholly-owned subsidiary of Suntech Power Holdings Co., Ltd., with responsibility for the distribution of Suntech products in the Americas. For more information about Suntech America's product offerings please contact Roger Efird, tel: +1(301)774-3430 or email: sales@suntechamerica.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. In particular, statements regarding projected sales in the U.S. in 2007 and 2008 and quotations from management in this announcement are forward-looking statements. Forward-looking 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.
