SAN FRANCISCO, July 27, 2011 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd (NYSE: STP), the world's largest producer of solar panels, is now offering solar panels that satisfy local content requirements for solar projects in Ontario, Canada. Using 100% Ontario-refined silicon, Suntech's qualifying 225Wp and 275Wp solar panels will help local partners receive approval under Ontario's microFIT and FIT Programs.
As of January 1, 2011, the Ontario microFIT and FIT Programs require solar projects to utilize 60% domestic content. Suntech's high-quality solar panels can now contribute 10% and 11% compliance to the microFIT and FIT Programs respectively, thus enabling solar project developers to achieve the required 60% threshold. Solar project developers can now apply to receive approval for their domestic content plans using Suntech solar panels.
"With Suntech 225Wp and 275Wp solar panels, we have a world-class option for delivering solar projects in Ontario," said Eric Kalmbach, Chief Operating Officer of NorthGrid Solar Inc. "Ontario FIT compliance enables us to continue providing the high level of excellence we demand from our suppliers. Competition is healthy for the solar industry in Ontario and globally. It leads to better quality and, most importantly, helps to drive down the cost of solar electricity, which ultimately encourages even further investment."
Suntech's qualifying solar panels utilize 100% Ontario-refined silicon produced by Calisolar Inc., a privately held, vertically integrated manufacturer of solar silicon, wafers and cells.
"Readily available, high-quality solar silicon is critical to the solar value chain and growth of the solar industry," commented Calisolar CEO Sandra Beach Lin. "Suntech has been working with us for three years and continues to invest resources and effort to make our operations in Ontario world class. This is a great opportunity for our two companies to help meet Ontario's renewable energy goals while creating 75 high-quality jobs in Ontario."
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces industry-leading solar products for residential, commercial, industrial, and utility applications. With regional headquarters in China, Switzerland, and the United States, and gigawatt-scale manufacturing worldwide, Suntech has delivered more than 15,000,000 photovoltaic panels to over a thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide everyone with reliable access to nature's cleanest and most abundant energy source.
For more information about Suntech's people and products visit http://www.suntech-power.com
About Calisolar
Calisolar is a manufacturer of solar silicon and cells. The company has cell manufacturing operations and headquarters in Sunnyvale, California; silicon purification operations in Vaughan Ontario, Canada; and a state-of-the-art research and development center in Berlin, Germany. The company's US and Canadian-based investors include Advanced Technology Ventures, Globespan Capital Partners, Good Energies, Hudson Clean Energy, Ventures West and Yaletown Ventures. More information is available at http://www.calisolar.com
About NorthGrid Solar
NorthGrid Solar Inc. is a leading EPC contractor deploying megawatts of FIT-compliant solar PV rooftop projects from its central location in Vaughan, Ontario, Canada. The company is known for engineered, elevated truss rooftop mounting systems (ETS) which satisfy the structural requirements of many buildings while producing superior solar performance. With a combined 50 years of global experience in designing and supplying photovoltaic power systems to clients in 62 countries, NorthGrid is well positioned to take projects from conception to commissioning.
For more information about NorthGrid Solar visit http://www.northgridsolar.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 ability to supply products that meet the Ontario FIT requirements. 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 further information, please contact | |
Walker Frost | |
Communications Manager | |
Suntech Power Holdings Co., Ltd. | |
Tel: +1-415-268-8881 | |
