SCHAFFHAUSEN, Switzerland, July 3, 2012 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, and IBC SOLAR, a leading global specialist in photovoltaic systems, today announced an agreement for Suntech to supply 50 megawatts (MW) of solar panels through the end of 2012. The agreement was recently inked after Intersolar Europe.
Suntech and IBC SOLAR began their successful partnership in 2004 with the joint goal to provide quality solar systems to resellers and installers. With this new agreement, the companies will continue to build on their solid, long-term relationship.
"Some of the criteria that we use to qualify products and brand partners include technology expertise, recognized certifications, consistent quality and long-term product availability," said Norbert Hahn, member of the board of IBC Solar. "More specifically, we value module manufacturers who invest in research and development to continuously enhance product performance and to deliver the most robust solar modules available on the market. Suntech fulfills all of these criteria and we are delighted to continue our strong partnership."
IBC SOLAR and Suntech have continuously expanded their partnership to deliver quality solar systems worldwide. The companies have worked together on a number of high-profile rooftop installations, including the New Fair Stuttgart (Germany) with a total capacity of 3.45MW as well as power plants in Osyan (India) and Warora (India) both with capacities of 5.75MW.
"Working closely with reliable and high-value business partners such as IBC SOLAR is central to our long-term strategy," explained Vedat Gurgeli, VP Sales and Marketing for Suntech Europe. "The combination of our high-quality products with the local knowledge and experience of our partners provides a good recipe for success."
More facts about Suntech's efforts in making solar technology affordable for everyone are available at http://www.facebook.com/SuntechPowerEurope.
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces industry-leading solar products for residential, commercial, industrial, and utility applications. 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 about Suntech's people and products visit http://www.suntech-power.com
About IBC SOLAR
IBC SOLAR is a leading global specialist in photovoltaic systems, offering complete solutions for power production from solar energy. The firm covers the entire spectrum, from planning to the turnkey handover of photovoltaic installations. Globally, IBC SOLAR has already implemented more than 120,000 turnkey photovoltaic systems with a total power of more than 1.9 gigawatts (GWp). The scale of these installations ranges from large photovoltaic power stations and solar parks, which feed electricity into the grid, to off-grid systems. IBC SOLAR sells its photovoltaic components and systems over an extensive network of trade partners. As a general contractor, IBC SOLAR plans and implements large scale solar projects. Through maintenance and monitoring, IBC SOLAR ensures an optimal performance of the solar parks.
IBC SOLAR was founded in 1982 in Bad Staffelstein, Germany. IBC SOLAR is represented by several subsidiaries around the world and currently employs around 440 people, of which approximately 300 work in Germany. The international business group IBC SOLAR is directed from its headquarters in Bad Staffelstein.
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 including the ability to deliver 50MW of product before the end of 2012. 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.
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SOURCE Suntech Power Holdings Co., Ltd.