Suntech and China Huadian sign strategic agreement to develop 500MW of solar projects

Suntech Power Holdings Co. Ltd., has announced that it has entered into a strategic agreement with China Huadian New Energy Development Co., Ltd. (HNE) to develop a total of 500MW of utility-scale and commercial roof top solar projects in China's western provinces, Jiangsu and Shanghai; the project will take place over the next three years.

Under the agreement, HNE will be responsible for the project investment and development of solar projects while Suntech will be responsible for supplying crystalline silicon (c-Si) solar modules, system design and technical support. Separate project-specific agreements will be signed prior to the implementation of solar projects related to this agreement.

Mr. Zheng Fang, General Manager of HNE said, "These solar systems will provide clean and renewable energy to countless Chinese households and businesses, particularly those in western regions, and facilitate sustainable development. We believe that solar energy will become an increasingly important means of satisfying China's growing demand for electricity."

Dr. Zhengrong Shi, Suntech's Chairman and CEO said, "China Huadian New Energy Development Company already has an impressive portfolio of renewable energy power plants and we are excited to collaborate with them to expand the adoption of solar energy in China. We are confident that solar energy will play a significant role to help China achieve its renewable energy goals and mitigate the effects of climate change."

Solar projects previously announced by Suntech including those in Qinghai province; Shaanxi province; Shizuishan city, Ningxia province; Panzhihua city, Sichuan province; and Jiangsu province may also develop as part of this agreement. All projects are subject to feasibility studies and government approvals.