Congratulates NSW Government on Progressive New Solar Policy
BRISBANE, Australia and WUXI, China, Nov. 18 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest crystalline silicon photovoltaic (PV) module manufacturer, today announced that its Chairman and Chief Executive Officer, Dr. Zhengrong Shi, has been elected to the fellowship of the Australian Academy of Technological Sciences and Engineering (ATSE) for his outstanding achievement in research and management in the large-scale commercialization of photovoltaic technology.
ATSE is an association of professional men and women who are elected as Fellows of the Academy on the basis of their achievement in the application of science, technology and engineering to Australian life. Dr. Zhengrong Shi was elected to the ATSE fellowship at the 34th Annual General Meeting held in Brisbane, Australia on Sunday, November 15, 2009.
"The Academy fosters excellence in technological sciences and engineering to enhance Australia's competitiveness, economic and social well-being and environmental sustainability," said Professor Robin Batterham, President of ATSE. "One of ATSE's roles is to help shape how Australia debates and tackles some of the major challenges of our times such as energy and climate change. I have no doubt that the Academy will benefit from Dr. Shi's expertise in these areas and his outstanding contribution to the implementation of viable solutions."
Dr. Zhengrong Shi said, "I am honored to be confirmed as a fellow of this prestigious academy. Australian scientists and engineers make extraordinary contributions to all fields of global scientific endeavor and Australian technology is helping to drive many young and rapidly growing industries. I am particularly excited about the growth of the solar industry in Australia as it is home to some of the best technology and solar resources in the world."
A number of states and capital territories including South Australia, Queensland, Victoria and the Australian Capital Territory have introduced proactive policies to stimulate investment in solar. Most recently, New South Wales (NSW) introduced a gross feed in tariff of AUD$0.60 per kilowatt hour for seven years for solar systems up to 10kW in size.
"Suntech applauds the Premier and the NSW government for implementing a feed in tariff to stimulate the growth of the local solar industry. The move recognizes the transformational role a feed in tariff can have in boosting employment, developing the industry and moving to a low carbon future," said Dr. Shi.
About the ATSE
The ATSE is an independent, non-government organisation dedicated to the promotion in Australia of scientific and engineering knowledge to practical purposes. The ATSE was formally inaugurated as the Australian Academy of Technological Sciences in Melbourne in February 1976. The concept of an applied sciences academy had its origins in the late 1960's when the Australian Industrial Research Group (AIRG), an informal association of directors and managers of industrial research and development laboratories, appointed a small committee to study the proposal for such a body put forward by the late Dr W A S Butement the then recently retired Chief Defence Scientist. For further information, please visit http://www.atse.org.au .
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar energy company as measured by production output of crystalline silicon solar modules. Suntech designs, develops, manufactures, and markets premium quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers an extensive range of customer-centric innovations, including Suntech's patent-pending Pluto technology for crystalline silicon solar cells, which improves power output by up to 12% compared to conventional production methods, the Reliathon(TM), the industry's first fully integrated utility-scale solar platform, and its broad range of building-integrated solar products.
Suntech designs and delivers commercial and utility scale solar power systems in China and the United States. With regional headquarters in China, Switzerland and San Francisco and sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. 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 the growth of the solar industry in Australia and the ability of the feed in tariff to boost employment, develop the solar industry and move to a low carbon future. 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 the United States:
Story Labs for Suntech America
Sarahjane Sacchetti
Tel: +1-415-268-8881
Email: ssacchetti@suntechamerica.com
In China:
Suntech Power Holdings Co., Ltd.
Rory Macpherson
Investor Relations Director
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
