SYDNEY and WUXI, China, July 13 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest crystalline silicon photovoltaic (PV) module manufacturer, today announced that Suntech solar panels containing new high efficiency Pluto cells will help power Sydney Theatre Company (STC) as one of several initiatives in STC's Greening the Wharf project.
The 500kW Pluto solar system, which should be completed in 2010, is slated to be one of the largest capacity rooftop solar project in Australia and along with energy saving measures will reduce Sydney Theatre Company's power drawn from the grid by up to 70%. The family foundation of Dr. Zhengrong and Vivienne Shi has donated $2 million to help fund the "Greening the Wharf" project and the Australian Government will provide $1.2 million of funding.
Dr. Zhengrong Shi, Suntech's Chairman and CEO, said, "It is a pleasure to support one of the cultural centerpieces of Sydney to reduce its carbon footprint through these sustainability initiatives. I hope that this project increases the awareness of climate change and demonstrates the huge role that solar can play in mitigating carbon emissions in Australia today."
The three key initiatives that form the heart of "Greening the Wharf" are: the installation of the state-of-the-art PV array; the introduction of extensive energy efficiency measures; and the introduction of an innovative rainwater harvesting, storage and reticulation system which will supply 100% of the STC's non-potable water requirements.
Over the next 25 years, it is estimated that the Greening the Wharf project will deliver 10,350 MWh of power generated via the PV array, 5,000MWh in energy savings and water savings of 37.5 million litres.
Suntech collaborates with the University of NSW in Australiain connection with advanced solar technologies. Dr. Shi said, "The high efficiency Pluto technology is a fantastic example of successful integration of world-class technology with commercial manufacturing techniques. There is enormous potential for solar to sustainably power our energy needs and we will continue collaborating with the University of NSWin connection with new generations of technology that facilitate more widespread adoption of solar."
About the Sydney Theatre Company
Sydney Theatre Company has been a major force in Australian drama since 1978. Operating from its home venue, The Wharf, on SydneyHarbour, where it produces a diverse year-round program of work, STC is also Resident Drama Company of the Sydney Opera House and produces and programs work at its state-of-the-art SydneyTheatre, WalshBay. STC regularly co-produces and tours its productions throughout Australia and internationally. Andrew Upton and Cate Blanchett have been Artistic Directors of the Company since January 2008.
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's patent-pending Pluto technology for crystalline silicon solar cells improves power output by up to 12% compared to conventional production methods. Suntech also offers one of the broadest ranges of building-integrated solar products.
Suntech designs and delivers commercial and utility scale solar power systems through its wholly owned subsidiary Suntech Energy Engineering and will own and operate projects greater than 10 megawatts in the United States through Gemini Solar Development Company, a joint venture with Renewable Ventures, a Fotowatio company. 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 percentage of STC's power requirements the solar system will provide, the ability of collaboration with University of NSW to produce new technology, and the amount of water and energy savings and power generated the "Greening the Wharf" project will produce. 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 Australia:
Jenny Lu
Suntech Power Australia
M:+61 422 666 147
jennylu@suntech-power.com.au
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
