Suntech Establishes Subsidiary to Serve South African Market Company eyes market expansion as country seeks to grow renewable energies
JOHANNESBURG, July 29, 2014 /PRNewswire/ -- Wuxi Suntech, one of the world's largest manufacturers of PV modules, is expanding its footprint in Africa by establishing a subsidiary company in South Africa. The subsidiary, Suntech Power South Africa, is fully compliant with South Africa's Broad-Based Black Economic Empowerment (BBBEE) legislation.
"Suntech is poised to quickly expand our presence in the South African market," said Suntech CEO Eric Luo. "Given the country's dedication to growing renewable energies, Suntech is exploring the potential of locating manufacturing, assembly and warehousing facilities as well as offering after-sales services in the market. This would enable Suntech to quickly supply a greater volume of PV modules to meet growing demands and serve as a gateway to additional markets in the region."
Most recently, Suntech supplied 100 MW of its high-efficiency PV modules for two projects selected during the Department of Energy's Renewable Energy Independent Power Producer Procurement Program's (REIPPPP) first bid round, said Ryan Virahsawmy, Country Head, Suntech South Africa.
South Africa's Department of Energy set a goal to reach 3,725 MW of renewable energy generation by 2030 and designed the REIPPPP to give independent power producers a chance to bid on renewable energy projects that support socio-economic and environmentally sustainable growth in the region. The REIPPPP occurs in five bidding rounds, with the fourth round tender winners expected to be announced later this year.
"Suntech's modules are in high demand as they are known for their superior quality and durability," said Virahsawmy. "Suntech recently received the prestigious VDE Quality-Tested certification, which attests that the quality of Suntech's modules exceeds existing industry standards. With our increased presence and capacity to bring South African developers high-quality modules, we will be well-positioned to support projects from the REIPPPP third-bid submission onwards."
Thanks to its recent acquisition by Hong Kong-based Shunfeng Photovoltaics Ltd., Suntech has the best financial balance sheet within the solar industry and is pursuing a new business strategy that will make it the largest integrated clean energy globally - integrated not only in terms of manufacturing but also in terms of owning clean energy producing assets. Suntech will provide one-stop access to the Shunfeng family of companies with capabilities in design, engineering, manufacturing, construction, finance, insurance, operation and maintenance, energy storage, solar products and applications.
About Wuxi Suntech Power Co., Ltd.
Wuxi Suntech Power Co., Ltd., a company incorporated in the PRC in January 2001, produces industry-leading solar products for residential, commercial, industrial, and utility applications. Suntech has delivered more than 30 million photovoltaic panels or 8 GWs of installed capacity to more than 1 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 reliable access to nature's cleanest and most abundant energy source.
SOURCE Wuxi Suntech Power Co., Ltd.