Suntech to Develop Solar Power Grid Integration Projects

To develop solar power grid-integration projects in Southern China, Suntech Power Holdings Co., Ltd. formed Shenzhen Suntech Power (Stock) Co., Ltd., which is expected to begin operations by the end of 2006.

”Shenzhen Suntech marks a milestone in our ongoing efforts to develop the solar market in China,” said Dr. Zhengrong Shi, Suntech’s Chairman and CEO. Suntech is using a commercially funded business model to form this new subsidiary. ”The new company will provide us with additional promotional and technical service capabilities in Southern China,” said Shi, “and allow us to take advantage of the Shenzhen government’s support of solar energy applications.” Suntech, a global manufacturer of photovoltaic (PV) cells and modules, recently entered into three system-integration projects in China with a total installed capacity of 2.2 megawatts (MW). Earlier this year, Suntech was awarded an exclusive contract to supply a 130-kilowatt (kW) solar energy system for Beijing’s Bird’s Nest Stadium, the main stadium of the 2008 Olympic Games.
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