North Coast Solar Stocks

September 30, 2009

Suntech Brings Utility-Scale Solar to China

Filed under: STP — Tags: , , , — Jason @ 3:00 am

China’s First 10MW Ground Mount Solar System Connects to the Grid

Wednesday September 30, 2009, 3:00 am EDT

WUXI, China, Sept. 30 /PRNewswire-Asia/ — Suntech Power Holdings Co., Ltd. (STP), the world’s leading manufacturer of crystalline silicon photovoltaic (PV) modules, today announced the completion and grid connection of the first 10MW utility-scale solar power project in China. Located in Shizuishan, Ningxia Autonomous Region, the 10MW ground mount solar system is the first phase of a 50MW solar plant that is targeted to be completed by 2011 in conjunction with Suntech’s strategic partner, China Energy Conservation Investment Corporation (CECIC). In addition to supplying high quality solar modules for the system, Suntech designed, installed and managed the development of the solar system and holds a minority share of the project.

Dr. Zhengrong Shi, Suntech’s Chairman and CEO said, ”Suntech is very pleased and honored to play a leading role in the development of the first on-grid 10MW solar PV power plant in China, which represents a major milestone in the development of China’s renewable energy industry. We applaud the decisive steps taken by China’s central government and local government to support sustainable energy development and establish a greener economy in China. With closer cooperation between strategic energy investors, power developers and solution providers, I am confident that solar energy will become increasingly cost effective and achieve grid parity in many locations over the next few years.”

Mr. Longsheng Li, Deputy General Manager of CECIC commented, ”We believe that plentiful, large-scale solar resources, powered by Suntech’s premium quality solar systems and system integration capabilities, can deliver decades of clean, renewable electricity throughout many regions in China. We will continue to actively promote the adoption of large-scale solar PV projects and solutions for reducing carbon emissions and solving problems associated with climate change.”

The 10MW solar system, which was approved by the Ningxia Autonomous Region Development and Reform Commission in June, 2009, is powered by more than 37,000 Suntech solar panels and is projected to displace approximately 20,000 tons of carbon dioxide emissions per year.

Under a strategic agreement announced in 2009, Suntech and CECIC plan to focus on the development of large scale on-grid solar projects, urban building integrated PV projects, rural off-grid solar projects, and wind-solar hybrid projects. For such projects, CECIC will primarily be responsible for project investment and solar project development and Suntech will supply solar products, system design, installation and technical support.

About China Energy Conservation Investment Co. Ltd. (CECIC)

CECIC is a wholly state-owned enterprise and the largest Chinese energy company dedicated to environmental protection. Its primary focuses are energy conservation, emissions reduction, waste treatment, environmental cleanup, and new energy technology. Its current operations have resulted in the recycling of 2 million tons of industrial waste, the reduction of 5 million tons of carbon dioxide, and the substitution of 1.6 million tons of coal per annum. CECIC-backed solar PV projects under contract and construction to date exceed 1.1GW of total installation capacity, making CECIC the largest solar PV project investor and operator in China.


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