WUXI, China, Oct. 31, 2011 /PRNewswire via COMTEX/ --
Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, today announced that its CEO and founder, Dr. Zhengrong Shi, has been appointed the first Chief Chairman of the Asian Photovoltaic Industry Association (APVIA). APVIA members, which include 670 photovoltaic (PV) enterprises, 23 industry associations and 15 research institutions, chose Dr. Shi based on his impeccable credentials and contribution to the solar industry. Dr. Shi will be the Chief Chairman of APVIA for two years.
"With the Asian PV industry projected to account for approximately one-third of global demand by 2015, Asia is uniquely positioned to lead the charge in driving the growth of the PV industry worldwide," said Dr. Zhengrong Shi, Suntech's CEO & Founder. "Asia is home to a number of leading PV companies with excellence in manufacturing, technology and R&D, and boasts amazing solar resources. Through APVIA, the PV ecosystem will collaborate to develop the best technologies, achieve economies of scale, and identify market opportunities to achieve grid parity both in Asia and the world."
As the Chief Chairman of APVIA, Dr. Shi will drive the strategic growth of APVIA to promote the advancement of the Asian PV industry, enhance public-private sector communication on industry policies, create a favorable investment environment to help market expansion, and establish a platform to nurture innovation and technology in the region.
The founding ceremony of APVIA was held in Singapore on October 31, 2011 during International Energy Week, an annual platform for energy professionals, policymakers and commentators.
"We are thrilled to have Dr. Shi as the first Chief Chairman of APVIA," said Mr. Tom Wu, Secretary General of the Taiwan Photovoltaic Industry Association. "APVIA has a strong leader in Dr. Shi who can lead the Asian photovoltaic industry to achieve grid parity. We are excited to work together to help drive job growth and solar installations anywhere the sun shines."
Under Dr. Shi's leadership, Suntech today is the world's largest producer of solar panels. Suntech recently celebrated its 10th anniversary by being the first and only solar company to achieve five gigawatts of solar installations by customers and partners worldwide. The company is committed to a long-term view of empowering a solar tomorrow for businesses, communities and people everywhere under the sun.
To learn more about Suntech's achievements in the last 10 years, please refer to the first edition of its Sustainability Report here.
Approved by Corporate Regulatory Authority (ACRA) of Singapore, the Asian Photovoltaic Industry Association (APVIA) was founded on January 16, 2009. As a non-profit social organization, it consists of PV enterprises, scientific institutions and other relevant organizations in Asian countries under the principle of voluntary enrolment. The business scope of the association covers: information and academic exchange, technical consultation, project demonstration, quality standards, market service, education and training.
The aim of the association is to encourage technological and economic information exchange, strengthen its members' connection with governments and societies in Asia, accelerate the progress in upgrading and popularization of technology, promote industry economy, as well as provide services to members and protect their legal rights and interests.
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 20,000,000 photovoltaic panels to over a thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving 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, and includes that the Asia PV industry will account for approximately one-third of global demand by 2015 and the ability of APVIA to foster best technologies, economies of scale and identification of market opportunities. 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.
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SOURCE Suntech Power Holdings Co., Ltd.