SAN FRANCISCO and WUXI, China, Sept. 4 /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 been selected to supply 5,445 Suntech solar panels for a 1MW solar electricity system at The North Face(R) West Coast distribution center in Visalia, Calif. The system will be installed by EI Solutions, on RayTracker(TM) GC single-axis solar trackers.
According to national metric data provided by the Environmental Protection Agency, the solar system is expected to reduce carbon emissions by over 1,300 metric tons annually, which is equivalent to removing close to 250 automobiles from operation for one year or preserving over 11 acres of forest.
“We are very pleased that Suntech solar modules have been selected for this project and value our association with the quality of The North Face Brand. We look forward to our collaboration with EI Solutions and Recurrent Energy on the innovative design and installation of the project,” said Roger Efird, President of Suntech America.
The new system, based on EI Solutions’ innovative design, will be installed over a storm water retention area located on the property, allowing for its dual use and providing a buffer to adjacent properties. By protecting the retention function of the area, the design negates the need for a new draining system while at the same time providing a clean, noise-free use of the land and financial savings.
“By combining Suntech’s high efficiency solar panels and RayTracker(TM) solar trackers, we were able to maximize the power output of the solar system for The North Face,” said Andrew Beebe, President of EI Solutions. “This single system will generate over 2 million kWh kilowatt-hours per year and reduce carbon emissions by over 1,300 metric tons annually.”
Scheduled to be completed by the end of this year, the system will be financed, owned and operated by San Francisco-based Recurrent Energy. 100% of the electricity will be sold to The North Face under a power purchase agreement.
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 BIPV products under the MSK Solar Design Line(TM). 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 .
About EI Solutions
EI Solutions is one of California’s fastest-growing providers of commercial and utility-scale solar power systems. The company has completed projects for a wide variety of public agencies and private companies including Sony, BT and the largest solar installation on a US corporate campus, a 1.6 megawatt system on Google’s Mountain View headquarters. EI Solutions’ headquarters are in San Rafael, California, where all engineering, project management, finance and administrative functions are based. EI Solutions also operates a sales and marketing office in Pasadena, California, at the home of its parent company, Energy Innovations. Energy Innovations, an Idealab company, has assembled a world-class team of experts in the fields of solar concentration and single axis tracking to deliver cost-effective, grid-competitive solar electric power. More information can be found at http://www.eispv.com or by calling 800.237.0916.
About Recurrent Energy
Recurrent Energy is a leading solar power developer and an industry pioneer in Solar as a Service(SM). The company owns and operates onsite solar power systems, selling clean electricity to its customers at grid-competitive rates. By overcoming the barriers preventing widespread adoption of distributed solar power, Recurrent Energy makes solar a practical choice for today’s large energy users in the commercial, government, and utility markets. For more information on Recurrent Energy and Solar as a Service, please visit http://www.recurrentenergy.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 include the ability to successfully install the solar system, the reduction of carbon emissions the solar system is expected to achieve, the amount of power the solar system will be able to generate, and the scheduled completion date of the solar system. 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:
In China:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings, Co. Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
In the United States:
Sanjay M. Hurry
Vice President
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
