WUXI, China, Dec. 13, 2012 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's largest producers of solar panels, and SunSystem S.p.A., a leading Italian solar engineering, procurement and construction (EPC) company, have signed a contract for Suntech to supply 25 megawatts (MW) of polycrystalline solar panels. The Suntech solar panels will power two new photovoltaic projects under construction in Romania that will be grid connected by the end of 2013.
"We are pleased to collaborate with SunSystem, a leading EPC company in Italy and Romania. Suntech's collaboration with SunSystem marries global expertise with best practices to deliver reliable and cost-effective solar to Romanian communities," said Vincenzo Quintani, South-East Europe Sales Director, Suntech. "This project, along with our recent contract with EDP Renovaveis, underscores the viability of our growth strategy in Eastern Europe."
Davide Scarantino, Managing Director of SunSystem, said, "Our entrance in Romania is part of our strategy to diversify the markets we operate in, and capitalize on our experience and technical knowledge in developing burgeoning solar markets in Europe."
The two power plants will utilize Suntech's 60-cell polycrystalline modules, STP 245-20/Wd, with a improved frame design and more than 15% efficiency, ideally suited for large-scale commercial projects and rooftop installations. The power plants will use Aros Sirio K500 HV-MT inverters made by Italian manufacturer Aros Technology Srl. The installed Suntech solar panels will generate an estimated 30,000 MW-hours of electricity per year.
The power plants will be operated by SunSystem and developed by RoEnergy, a SunSystem company in Romania. Since its inception, SunSystem has installed more than 2,000 solar systems, of which 700 were installed in 2012.
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces 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 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.
For more information about Suntech's people and products visit http://www.suntech-power.com/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 two photovoltaic plants being grid connected by end of 2013; STP 245-20/W's efficiency and it being ideally suited for large-scale projects and rooftop installations; and the project underscoring Suntech's growth strategy in Eastern Europe. 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.
Media inquiries, please contact:
Shashin Surti Weber Shandwick for Suntech Tel: +86 21 2411 0046 Email: Suntech@webershandwick.com
SOURCE Suntech Power Holdings Co., Ltd.