October 24, 2008
Suntech Reinforces Its Commitment to Tackling Climate Change By Joining The Climate Group
NEW YORK and WUXI, China, Oct. 24 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. , the world's largest photovoltaic (PV) module manufacturer, today announced it has joined The Climate Group, a global, independent organization dedicated to accelerating action on climate change. Suntech is the first and only solar energy company to join The Climate Group.
Uniting with other international members of The Climate Group at an event held in Beijing on Friday, October 24th, Suntech pledged to help the world reduce greenhouse gas emissions by driving down the cost of solar and promoting widespread adoption of solar systems.
"Joining The Climate Group is a tremendous opportunity for collaboration with some of the world's brightest environmental minds to develop practical solutions to reduce greenhouse gas emissions," commented Dr. Zhengrong Shi, Suntech's Chairman and CEO. "At Suntech, we view our march towards grid parity, through intensive investment in solar technology and innovation, as integral to achieving a global solution to climate change."
According to a report recently released by The Climate Group, China's Clean Revolution, China has already become the world's largest renewable energy producer in terms of installed capacity, with the largest hydro- electric fleet and the fifth largest wind power fleet, and is second only to Japan in solar photovoltaic panel production, producing 820 megawatts (MW) of solar capacity in 2007. China's energy consumption relative to total output dropped more than 60% between 1980 and 2005, and the country has set a target of a further 20% cut between 2006 and 2010. Solar power will play a key role in helping China to achieve these ambitious targets.
Changhua Wu, Greater China Director of The Climate Group, commented, "The addition of Suntech to our organization highlights China's ambition to lead the clean revolution. I am hopeful that Suntech's industry leadership and commitment to effecting change, via its offering of innovative, high-quality solar energy products, will soon become commonplace for all Chinese companies."
Suntech Power Holdings Co., Ltd. is a world-leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high-quality, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of BIPV products under the MSK Solar Design Line(TM). Suntech has sales offices worldwide and is a market share leader in key global solar markets. For more information, please visit http://www.suntech-power.com/ .
About The Climate Group
The Climate Group ( http://www.theclimategroup.org/ ) is an independent, nonprofit organization that works with government and business leaders to accelerate the transition to a low-carbon economy. Its coalition of proactive leaders -- from government, business and NGOs - has demonstrated that the emissions reductions needed to stop climate change can be achieved while boosting profitability and competitiveness. Companies, states, regions and cities around the world are realizing there are significant economic as well as environmental advantages of taking decisive action now. The Climate Group was founded in 2004 and has offices in the UK, US, China, India and Australia.
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 ability of Suntech to help reduce greenhouse gas emissions, the ability to achieve grid parity, and the ability to achieve targeted drops in energy intensity. 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.
For more information on Suntech, please contact: In China: Rory Macpherson Investor Relations Director Tel: +86-21-6288-5574 Email: [email protected] In the United States: Sanjay M. Hurry Vice President The Piacente Group, Inc. (Investor Relations Counsel, Suntech) Tel: +1-212-481-2050 Email: [email protected] For more information on The Climate Group, please contact: In China: Jiajia Luo Tel: +86-10-6440-3639 x8003 Email: [email protected] In Europe: Tom Howard-Vyse Tel: +44-207-960-2991 Email: [email protected] In the United States: Neal McGrath Tel: +1-646-233-0554 Email: [email protected]
Suntech Power Holdings Co., Ltd.
CONTACT: Suntech - In China: Rory Macpherson, Investor RelationsDirector, +86-21-6288-5574, or [email protected]; In the United States:Sanjay M. Hurry, Vice President of The Piacente Group, Inc. (InvestorRelations Counsel, Suntech), +1-212-481-2050, or [email protected]; TheClimate Group - In China: Jiajia Luo, +86-10-6440-3639 x8003, [email protected]; In Europe: Tom Howard-Vyse, +44-207-960-2991, [email protected]; In the United States: Neal McGrath, +1-646-233-0554, or [email protected]
Web Site: http://www.suntech-power.com/http://www.theclimategroup.org/