Suntech Plans Manufacturing and R&D Facilities in Shanghai

Suntech Power Holdings Co. will establish manufacturing and R&D facilities in Caohejing Hi-tech Park, Shanghai, development of which is anticipated to cost approximately $60 million. The facilities are expected to begin operations in early 2008. Suntech also recently opened a sales office in Shanghai as part of a strategy to develop sales in the domestic PV market.

“Our new facilities in Caohejing Hi-tech Park will provide us with another site to expand our production capacity, and develop new solar technologies and value-added PV solutions,” said Dr. Shi, Suntech’s Chairman and CEO. “We believe that the proximity to central Shanghai will also help us to continue to attract highly qualified staff.” “With Shanghai’s recent initiative to install PV systems on 100,000 rooftops and a growing trend towards alternative energy solutions, we are confident that Shanghai will become an important PV market in China,” added Dr. Shi. Suntech Power Holdings Co., Ltd. designs, develops, manufactures, and markets quality, cost effective and environmentally friendly PV cells and modules for electric power applications in the residential, commercial, industrial, and public utility sectors, for customers in Germany, Spain, China and the U.S.
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