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Suntech Establishes Collaborative Research Agreement With University of New South Wales

Suntech Power Holdings Co., Ltd.
2006-11-03 08:30 4342

WUXI, China, Nov. 2 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co.,

Ltd. (NYSE: STP), one of the world’s leading manufacturers of photovoltaic

(PV) cells and modules, has announced a new collaborative research agreement

with the Centre of Excellence for Advanced Silicon Photovoltaics and

Photonics at the University of New South Wales, Australia (UNSW). The

agreement, which includes a $1.2 million contribution to UNSW, marks the

continuation of a long and productive collaboration between the two

institutions.

“Suntech’s research relationship with the University of New South Wales

strives to make solar power an even more attractive clean solution to the

world’s energy needs,” said Dr. Zhengrong Shi, Suntech’s Chairman and CEO.

“Through our unique collaboration, UNSW students and staff are involved in

the complete technology development process, and we are able to transfer new

solar technologies to commercial production in a relatively short time.” Dr.

Shi, who received his PhD degree from UNSW in 1992, is a specialist in

crystalline silicon solar cell technology and holds 10 patents in the field.

Suntech’s contribution will fund the research and development of

technology that increases the conversion efficiency of solar cells and

decreases solar energy’s cost per watt. Suntech and UNSW have already co-

developed an advanced screen-printing technology based on the use of

semiconductor fingers that enables the production of solar cells with up to

18% solar conversion efficiency. The Company has successfully conducted pilot

production using this technology and will begin large scale production by the

end of this year.

Suntech and UNSW are currently developing technology that can produce

cells with 20% solar conversion efficiency with pilot production planned to

begin in 2007. Stuart Wenham, Suntech’s Chief Technology Officer and

Scientia Professor and Director of the Centre of Excellence for Advanced

Silicon Photovoltaics and Photonics at UNSW, will lead the research

collaboration.

UNSW is the world record holder in silicon solar cell efficiency and a

recognized leader in developing crystalline silicon solar cell technology.

In addition to this most recent agreement, Suntech also provides funding for

a number of UNSW undergraduate and postgraduate scholarships for training in

the area of photovoltaic engineering.

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 research

collaboration with UNSW 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:

In China:

Steven Chan

VP of Business Development

Suntech Power Holdings Co., Ltd.

Tel: +86-510-8531-8910

Email: ir@suntech-power.com

Rory Macpherson

Senior Associate

Ogilvy Public Relations Worldwide

Tel: +86-10-8520-6553

Email: rory.macpherson@ogilvy.com

In the United States:

Thomas Smith

Senior Vice President

Ogilvy Public Relations Worldwide

Tel: +1-212-880-5269

Email: thomas.smith@ogilvypr.com

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