SAN FRANCISCO and SYDNEY, April 22 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, today announced the opening of Suntech Australia that will be focused on sales and business development in Australia, New Zealand and the Pacific Islands.
“With abundant sunlight and low population density, Australia is ideally suited to distributed solar energy generation, and well-placed to take a leading role in the development and utilization of this clean and sustainable energy solution,” said Dr. Zhengrong Shi, Suntech’s Chairman and Chief Executive Officer. “Australia’s ratification of the Kyoto protocol and increasing State support for solar projects reflects the broader community’s growing interest in renewable energy and environmental sustainability. Suntech is committed to supporting this trend through investment in Australia’s solar industry, and the provision of premium quality solar products.”
Dr. Shi added, “With our new base in Sydney and continued collaborative efforts with local and regional partners, we will strive to promote the
long-term development of the solar industry in Australia, New Zealand and neighbouring Pacific Islands.”
Suntech’s Australia Connections
Dr. Zhengrong Shi, an alumnus of the University of NSW, and Suntech have maintained strong connections with the Australian solar industry. Suntech and the Centre of Excellence in Advanced Silicon Photovoltaics and Photonics of the University of New South Wales Australia have enjoyed long term collaboration on the research and development of cutting-edge solar technologies that target to increase PV cell conversion efficiency and decrease solar energy cost per watt. As part of the collaboration, Suntech has provided funding for solar research projects and the two organizations have mutually shared benefits produced from such efforts. In addition, Suntech also provides funding for a number of UNSW undergraduate and postgraduate scholarships for training in the area of photovoltaic engineering.
“Coming from a scientific research background, I take great pleasure in providing opportunities for up and coming scientists in this dynamic industry,” commented Dr. Shi. “Suntech’s relationship with the University of NSW brings a commercial focus to research projects and supports the education and development of some of the world’s best talent in solar R&D. At the same time, many of the technologies developed through the collaboration can be applied in mass production and facilitate lower cost per watt production of solar energy.”
One technology coming from the research collaboration, named the Pluto technology, is already achieving 18% to 19% conversion efficiency on
mono-crystalline PV cells in pilot production - well above the industry average of 16%. Suntech plans to transfer Pluto technology to commercial production in 2008.
The contact details for Suntech Australia are:
Unit 7, 24-28 Skarratt Street North,
Silverwater, NSW 2128, Australia
Tel: +61 (2) 9648 5600
Email: sales@suntech-power.com.au
About Suntech
Suntech Power Holdings Co., Ltd. is a world leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of building integrated photovoltaic (BIPV) products under the MSK product line. Suntech has sales offices worldwide and is a market share leader in key global solar markets. 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 Suntech’s plans to promote development of the solar industry in Australia, New Zealand and the Pacific Islands, the ability of collaboration efforts with UNSW to develop new solar technologies, and the ability to apply Pluto technology to commercial production. 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:
Rory Macpherson
Investor Relations Manager
Suntech Power Holdings Co., Ltd.
Tel: +86-510-8531-8922
Email: rory@suntech-power.com
In the United States:
Sanjay M. Hurry
Vice President
The Piacente Group, Inc.
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
