Suntech Signs Contract with Recurrent Energy to Deliver 5MW of Modules in Q4 2009 for California’s Largest Solar Photovoltaic System
(NYSE: STP), the world’s largest crystalline silicon photovoltaic (PV) module
manufacturer, announced today that it has been selected to supply over 25,000
modules for Recurrent Energy’s five megawatt municipal solar power project
atop the Sunset Reservoir in
scheduled for delivery in the fourth quarter of 2009.
The project, contracted by the San Francisco Public Utilities Commission
in late 2008 and signed into law by
2009
from 2MW today to 7MW upon completion in 2010. According to the SFPUC, it will
be
”Suntech America and Recurrent Energy are both
companies and we are proud to jointly participate in bringing a green energy
future to this wonderful city,” said
Officer and President, Global Sales/Marketing. ”Working together, we can help
reduce dependence on fossil fuels throughout
projects such as the Sunset Reservoir system set a notable precedent for
reducing greenhouse gases and stimulating a national green economy.”
After extensive vetting, Recurrent Energy chose Suntech’s high-efficiency
solar modules to help maximize energy production after considering the site’s
urban setting and finite usable roof space. Suntech modules are effective in
converting the sun’s rays into electricity in low and indirect light, an
important factor given the site’s wide variety of weather conditions during
the year.
”The combination of the system design and Suntech modules will help us to
deliver the maximum amount of solar energy and environmental benefits over the
lifetime of the Sunset Reservoir project,” said
Energy. ”This PV system is expected to produce enough renewable energy to
provide for 1,000 typical City residents, avoiding the release of more than
109,000 metric tons of carbon dioxide emissions.”
Recurrent Energy will own and operate the system and sell all the
renewable electricity to the City and County of
power purchase agreement. The anticipated production for the 5 MW project is
6,560,000 kWh in the first year. Under the agreement, Recurrent Energy assumes
all financing, construction, and operating obligations for the project.
About Recurrent Energy
Recurrent Energy is a distributed power company and a leading provider of
solar energy. The company solves rising global demand for clean energy by
developing and owning solar power plants located in areas of high demand where
power is needed most. Recurrent Energy sells clean electricity to commercial,
government, and utility customers at competitive rates via Power Purchase
Agreements or Feed-in Tariffs. Notable projects include a 5 megawatt planned
installation with The City and County of
largest municipal solar installation in
more information on Recurrent Energy and distributed solar power, please visit
http://www.recurrentenergy.com .
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world’s leading solar
energy company as measured by production output of crystalline silicon solar
modules. Suntech designs, develops, manufactures, and markets premium quality,
high-output, cost-effective and environmentally friendly solar products for
electric power applications in the residential, commercial, industrial, and
public utility sectors. Suntech’s patent-pending Pluto technology for
crystalline silicon solar cells improves power output by up to 12% compared to
conventional production methods. Suntech also offers one of the broadest
ranges of building-integrated solar products under the MSK Solar Design
Line(TM).
Suntech designs and delivers commercial and utility scale solar power
systems through its wholly owned subsidiary Suntech Energy Engineering and
will own and operate projects greater than 10 megawatts in
through Gemini Solar Development Company, a joint venture with Renewable
Ventures, a Fotowatio company. With regional headquarters in
passionate about improving the environment we live in and dedicated to
developing advanced solar solutions that enable sustainable development. For
more information, please 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,
and includes the ability of Suntech to supply the modules under the agreement,
the completion date of the system, the amount of energy the system will
generate upon completion, and the number of residents to whom the system can
provide power. 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.
Media Contacts
For Suntech:
In China:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings Co., Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
In the United States:
Kristen McNally
Executive Vice President
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
For Recurrent Energy:
Sean Gibson
Bite Communications
Tel: +1-415-365-0395
Email: sean.gibson@bitepr.com
SOURCE Suntech Power Holdings Co., Ltd.