BANGKOK and WUXI, China, Aug 05, 2010 /PRNewswire via COMTEX/ --
Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's leading producer of crystalline silicon solar panels, has been selected to supply 34.5MW of solar panels for the first phase of the largest solar power plant in Thailand and Southeast Asia. Owned and operated by Bangchak Petroleum Public Co., Ltd., and integrated by Solartron Public Co., Ltd., the planned 44MW (38MW AC output capacity) solar power plant will be located just outside of Bangkok and generate decades of renewable energy for the booming metropolis and surrounding areas.
The landmark project was announced today at a ground-breaking ceremony presided over by Dr. Wunrattana Chanukul, the Thailand Minister of Energy. Upon completion in late 2011, the solar power plant will represent a major milestone in Thailand's ambitious goal to source 20% of its energy consumption from renewable sources by 2022.
''Renewable energy technologies are an integral component of Bangchak's long-term development strategy,'' said Dr. Anusorn Sangnimnuan, CEO of Bangchak Petroleum Public Co., Ltd., at the launch event. ''We look forward to building our partnership with Suntech to develop more utility-scale solar projects in Southeast Asia.''
''For this historic project, we needed reliable solar modules with strong, dependable power performance,'' said Mrs. Patama Wongtoythong, CEO of Solartron, a leading solar solutions provider in the region. ''We were impressed by Suntech's industry-leading power output warranty, backed by a global track record of high-performing installations.''
In a November 2009 report, the Asian Development Bank projected that energy demand in Asia and the Pacific will grow by an estimated 2.4 percent annually for the next twenty years, a cumulative 80% increase between 2005 and 2030. Suntech believes that solar technology will account for a rapidly growing share of Asia's electricity generation capacity, as economies throughout the region embrace affordable alternatives to carbon-based energy production. According to Solarbuzz research, Asia's solar market grew to nearly 900MW in 2009 - despite the global recession - up from about 630MW in 2008.
''Strong economic growth witnessed in markets like China and Thailand would not be possible without reliable access to electricity,'' said Dr. Zhengrong Shi, Suntech's founder, chairman and CEO. ''The reality is that fossil fuels alone are unable to provide long-term energy security to meet the soaring demands of Asia's rising populations. Now is the time to rediscover nature's cleanest and most abundant energy resource.''
About Solartron Public Company Limited
Solartron Public Company Limited was founded in 1986. Solartron has been providing Thailand and neighboring countries with alternative clean energy sources of photovoltaic energy for more than 24 years. At present, Solartron offers turnkey service including design, engineering, installation, commissioning, monitoring, maintenance and after-sale services. Solartron has so far provided more than 250,000 solar application systems in the Southeast Asia region. Solartron is now constructing an upstream solar cell factory with a capacity of 30MW per year, in order to support the rapid growth of demand for solar power in Thailand and in the global market.
For more information about our company and products please visit: http://solartron.co.th
About Bangchak Petroleum Public Co., Ltd.
Bangchak Petroleum Public Company Limited is a Thai oil company, running the business of refining crude oil from the Middle East, the Far East as well as from domestic sources. The company also sells its finished oil products through a network of over 1,100 service stations throughout the country. In addition, Bangchak has extended its direct sales channel to large and medium- scale oil consumers, including industrial plants, airlines, automobile companies, ocean liners, and construction businesses, etc. The company is always aware of the importance of the renewable energy, especially solar power, which contributes to the country's energy security, and supports government policy to promote renewable energy.
For more information about company and products visit: http://www.bangchak.co.th
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 10,000,000 photovoltaic panels to thousands of customers in more than eighty countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Our mission is to provide everyone with reliable access to nature's cleanest and most abundant energy source.
For more information about our 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, and includes the supply of solar panels for the solar power plant, the ability of the solar power plant to supply clean electricity for thousands of local residents and communities, the completion of the solar facility in 2011, Bangchak developing more utility-scale solar projects in Southeast Asia and that solar technology will account for a rapidly growing share of Asia's electricity generation capacity. 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, please contact:
For Solartron Public Co. Ltd.:
Mrs. Patama Wongtuythong
Investor Relations Department
Solartron Public Company Limited
For Bangchak Petroleum Public Co., Ltd.
Corporate Planning and Investor Relations Office
10th Floor, Building A, 555/1 Energy Complex
Vibhavadi Rangsit Road, Chatuchak,
Marketing & Communications
Suntech Power Holdings Co., Ltd.
Investor Relations Director
Suntech Power Holdings Co., Ltd.
SOURCE Suntech Power Holdings Co., Ltd.