Suntech Powers Latin America with Largest Solar Field
30MW solar PV field doubles installed capacity in Mexico
WUXI, China, July 22, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP) ("Suntech Holdings" or the "Company"), one of the world's largest solar companies, today announced that it is supplying the photovoltaic modules for the largest solar power plant in Latin America, a 30MW plant in La Paz, Baja California Sur, Mexico.
The 132,000 Suntech Ve and Vd panels will be installed by Martifer Solar, a Portugal-based fully-integrated solar company, on a 100-hectares site. Owned by Corporacion Aura Solar, the project is being developed by Gauss Energia, a leading Mexican energy project developer focused on renewable energy.
The project has strong financial support from Mexican local development bank NAFIN, and from the International Finance Corporation. It is Mexico's first utility-scale solar project with a Power Purchase Agreement from Mexico's federal power company.
E.L. McDaniel, Managing Director of Suntech America, said, "We are very excited to supply the panels for the largest solar field in Latin America. With Mexico's excellent sunlight and strong renewable energy demand, we expect to see excellent growth of PV in the region."
Henrique Rodrigues, CEO of Martifer Solar, said, "The construction of Latin America's largest PV plant confirms our best expectations for 2013. This is an emblematic project for Martifer Solar, in a region that, due to its irradiation characteristics, finds solar electricity as a viable and more competitive alternative, when compared with non-renewable energy sources. We consider Mexico as a key market in Martifer Solar's internationalization strategy."
Hector Olea, CEO of Gauss Energia, said, "Aura Solar is the first project of a larger initiative that aims to become a platform to develop utility-scale PV facilities in Mexico. With Mexico's solar potential expected to reach around 2,000 MW by 2020, Aura Solar has broken ground in the PV sector, and it is paving the way for future projects in the field. We are quite satisfied to have worked with Suntech and Martifer on this project."
The plant will have a production capacity of 82 GWh/year, equivalent to offsetting more than 60,000 tons of CO2 emissions per year. The plant's construction is scheduled to be completed in August 2013.
About Martifer Solar
Martifer Solar is present all over the world, focusing on Project Development, EPC, O&M and the distribution of PV modules and components, via its subsidiary MPrime.
The company is based in Portugal and has a presence in Europe (Spain, Italy, Greece, Belgium, France, Czech Republic, Slovakia, United Kingdom, Germany, Romania and Ukraine), North and Latin America (United States, Canada, Mexico, Chile, Brazil and Ecuador), Africa (Cape Verde, Mozambique and South Africa) and Asia (India, United Arab Emirates, Singapore and Japan).
According to Martifer Solar, in 2012 Martifer Solar's revenues reached 230.8 million Euros and, to date, the company has implemented more than 400 MW of photovoltaic solar energy worldwide.
Martifer Solar is part of the Martifer Group, a multinational industrial group with around 3,000 employees focused on metallic constructions and solar energy. Martifer SGPS, SA is the holding company of the Group and has been listed on Euronext Lisbon since June 2007.
About Gauss Energia
Founded in 2004, Gauss is a leading business development firm, specialized in Mexico's energy sector. Gauss's activity focuses on the identification, development and structuring of investment opportunities.
Particularly, Gauss Energia has a wide experience in the development of renewable energy projects in Mexico. Its knowledge on the regulatory and commercial frameworks in the Mexican energy sector allowed Gauss to participate successfully on the structuring of projects over 300 MW with renewable energy sources.
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces solar products for residential, commercial, industrial, and utility applications. With regional operations 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 designed to drive 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.
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 "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and includes the actual performance of the panels, the ability of the project to double Mexico's installed PV capacity, and ability to generate 82GWh/year and offset more than 60,000 tons of CO2 emissions per year. 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.
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Ryan Scott Ulrich
Public Relations and Investor Relations
SOURCE Suntech Power Holdings Co., Ltd.
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