Suntech to Develop 20% of Approved Systems for China's Solar Rooftop Program     

Suntech Power Holdings Co., Ltd. (NYSE: STP) announced November 13th that it expects to develop approximately 20% of the 91 MW of solar projects that were approved under China's Solar Rooftop Program.
   China's Solar Rooftop Program, which was launched in March 2009 by the Ministry of Finance, is designed to increase the energy efficiency of buildings through the installation of building-attached and building-integrated photovoltaic (PV) solar systems. The first set of applications was submitted in April, and recently 111 solar projects totaling 91 MW across China were approved to receive funds through the program. The system owners are expected to receive a RMB13-17 per watt rebate for all projects approved through the program.
   Suntech targets to develop approximately 20% of the successful applications and will also participate as the system owner or partial investor in some projects. Suntech has completed 4 MW of its approved projects and plans to develop the remainder by mid-2010. Specific project agreements will be signed prior to implementation.
    "Building energy use accounts for roughly 28% of total energy consumption in China and is a critical front in the drive to achieve higher energy efficiency and reduce carbon emissions," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "The Ministry of Finance Solar Building Program recognizes the huge opportunity to offset building energy consumption with integrated solar energy generation. We are very pleased to demonstrate the capability of this technology and we hope to see this valuable solar program expanded in 2010 and beyond."
   The Solar Rooftop Program places particular emphasis on technologically advanced, building-integrated solar systems. Suntech has one of the industry's broadest portfolios of BIPV products and a highly experienced system design and integration team that can implement complex turnkey solar projects. Suntech's new Green Energy Headquarters in Wuxi that incorporates a 1 MW BIPV solar facade and rooftop system was designed and constructed by Suntech's in-house team and is one of the projects approved to receive the rebate.

Suntech Builds Manufacturing Plant in US

Suntech said on November 15 that its first U.S. manufacturing plant for the growing North American market would be located in the Greater Phoenix, Arizona area. The plant will have an initial production capacity of 30 megawatts and is expected to begin production in the third quarter of 2010.
    Initially starting with 30 MW of PV module production capacity, the Suntech plant is configured for growth to respond to the expected expansion of the U.S. solar market in the coming years.