Suntech and Solarstrom AG Sign 26MW Contract
SCHAFFHAUSEN, Switzerland, Sept. 5, 2012 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels and Solarstrom AG, a provider of high quality photovoltaic power plants, based in Freiburg, Germany, have signed a contract for Suntech to supply approximately 26 megawatts (MW) of monocrystalline and polycrystalline solar panels, which will be used for new power plants in Germany.
"We are pleased to continue our strong working relationship with Solarstrom AG, an industry pioneer and a successful publicly-listed company, which has provided PV power plant services for 14 years," said Vedat Gurgeli, Vice President Sales and Marketing of Suntech Europe.
Dr. Karl Kuhlmann, CEO of Solarstrom AG, comments: "Suntech offers modules of a proven high-quality standard, which can also be well financed when deployed in projects – these were important criteria for us when we decided on Suntech as a supplier. The quality of modules ultimately defines the yield of a system. And as our customers expect reliable revenue, we are not prepared to compromise. In addition, the funding of projects is an important prerequisite for successful sales".
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces industry-leasing solar products for use for residential, industrial and utility purposes. With regional headquarters in China, Switzerland and the United States, and gigawatt-scale manufacturing worldwide, Suntech has delivered more than 25,000,000 photovoltaic panels to over a thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide everyone with reliable access to nature's cleanest and most abundant energy source.
For more information on Suntech's people and products, please visit www.suntech-power.com.
About Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008) of Freiburg, i.Br., Germany, is a manufacturer-independent provider of high-quality photovoltaic plants configured to customer's individual needs. The group constructs efficient plants of all sizes both in German and abroad. Solarstrom AG also produces solar energy at its own plants. S.A.G Solarstrom AG's service portfolio covers the entire life cycle of photovoltaic plants, including forecast and energy services, yield reports, and remote service and maintenance, as well as insurance and financing. The group thus offers a comprehensive value chain in photovoltaics, from yield reports, planning, construction, operations and monitoring to optimization, repowering, and deconstruction. Founded in 1998, S.A.G Solarstrom AG is considered a pioneer in the solar industry. Around 210 specialists work at the four locations in Germany and the foreign subsidiaries. S.A.G Solarstrom AG is listed in the Prime Standard of the Frankfurt Stock Exchange as well as according to the m:access rules and standards of the Munich Stock Exchange.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "plans to", "expects to," "anticipates," "future," "intends to," "optimistic," "plans," "believes," "considers" and similar statements and includes the supply of 26MW of solar modules and the provision of bankable solar projects. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech does not undertake any obligation to update any forward- looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Communications Manager Europe
Suntech Power International Ltd.
Tel: +41 52 633 12 56
SOURCE Suntech Power Holdings Co., Ltd.
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