China's Suntech Power Establishes U.S. Presence

''Suntech is a fast growing player in the solar market, and we are especially interested in the long-term potential of the U.S. market for residential and commercial applications,'' said Dr. Zhengrong Shi, Suntech's Chairman and Chief Executive Officer.

''Our immediate objectives include the continuation of a regular, dependable supply of solar modules to our existing customers, the establishment of a warehouse facility on the west coast, and pursuing new relationships with U.S. customers,'' said Roger Efird, who has been named as President of Suntech America and will also serve on its board of directors.

''The long-term solar wafer supply agreement we recently entered into will better position us to expand our market share in the United States,'' said Efird.

In other business, according to a separate release from Shrewsbury, New Jersey-based PV equipment distributor, Solar Resources, it has recently signed a distribution agreement with Suntech Power Holdings Co., Ltd. for Suntech Power modules, currently available at Solar Resources' distribution center. Elliott Shanley, Principal of Solar Resources, said, "We are pleased to partner with Suntech Power, one of the world's leading manufacturers of solar cells. We believe that the recent silicon supply agreement announced between Suntech Power and MEMC, totaling $5 to $6 billion over a 10-year period, will insure that we are able to meet the growing demand for Suntech Power's PV modules in the United States."