WUXI, China and SYDNEY, May 11, 2010 /PRNewswire via COMTEX/ --Suntech Power Holdings
Co., Ltd. (NYSE: STP), one of the world's leading producer of crystalline
silicon solar panels, the University of New South Wales (UNSW) and Silex Solar
will together research advanced technology to further improve the power
conversion efficiencies of crystalline silicon solar cells. The three-year
collaborative research project today received an AUD5 million grant from the
Australian Solar Institute (ASI), the largest award given to any of the 87
grant applicants in the ASI's first competitive funding call.
"The ASI, through funding from the Australian Commonwealth Government,
invests in Australian research innovation that aims to reduce the costs of
solar energy. We are pleased to support the world-renowned team at UNSW in
collaboration with its industry partners Suntech and Silex Solar through this
ground-breaking project," said the ASI's Executive Director Mark Twidell.
In addition to the AUD5 million research grant from the ASI, both Silex
Solar and Suntech will contribute more than AUD6 million in direct funding and
in-kind research resources over the next three years to support research
"Silex Solar and UNSW are ideal partners for this solar research project,
made possible by the vision and leadership of the Australian Solar Institute.
Our long-term research collaborations with Australian organizations are
central to driving solar innovation," said Dr. Zhengrong Shi, Chairman and CEO
of Suntech, a graduate of UNSW, as well as a fellow at the Australian Academy
of Technological Sciences and Engineering (ATSE). "As our earth suffers under
the strains of fossil fuel energy production, we are empowering individuals
and communities in Australia and around the world to look up and harness
nature's cleanest and most abundant energy resource."
The research project -- another chapter in Suntech's long-standing
collaboration with UNSW -- will focus on the development of advanced solar
cell device designs and innovative high volume cell manufacturing processes to
achieve significant performance improvements and cost reduction breakthroughs.
The research is expected to complement Suntech's development of high-
efficiency Pluto technology.
"This promising research collaboration will hopefully generate additional
enhancements to our industry-leading photovoltaic cells," said Dr. Stuart
Wenham, Chief Technology Officer for Suntech and Director of the Centre of
Excellence for Advanced Silicon Photovoltaics and Photonics at UNSW. "Our goal,
by the end of this project, is to drive solar electricity generation past grid
parity against retail electricity prices in more than 50% of the world's
Suntech nearly doubled its R&D investments in 2009 to US$29 million, up
from US$15 million in 2008. Globally, Suntech employs 380 full-time solar R&D
engineers and professionals who work across China, Japan, Germany, the United
States, and Australia. The company expects further R&D investment growth in
the coming years, creating cutting-edge technology to advance the use of solar
power everywhere under the sun.
About Suntech Power
Suntech Power Holdings Co., Ltd. (NYSE: STP) is one of 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 offers an extensive range of
customer-centric innovations, including its patent-pending Pluto technology
for crystalline silicon solar cells, which improves power output by up to 12%
compared to conventional production methods, its Reliathon(TM) module and
platform, the industry's first fully integrated utility-scale solar platform,
and its broad range of building-integrated solar products.
Suntech designs and delivers residential, commercial and utility-scale
solar power systems in China and the United States. With regional headquarters
in China, Switzerland and San Francisco and sales offices worldwide, Suntech
is 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 .
About the Australian Solar Institute
The Australian Solar Institute is a $100 million commitment by the
Australian Government to support solar thermal and solar photovoltaic research
and development. This commitment will foster greater collaboration between
solar researchers in universities, research institutions and industry and help
forge strong links with peak overseas solar research organisations.
The ASI aims to drive collaborative, focused research and development that
will have a major impact on the efficiency and cost-effectiveness of solar
technologies. It will also disseminate the results and learnings from solar
research for the benefit of the Australian and global solar communities and
the Australian public and will act as a catalyst and champion for Australia's
leadership strengths in solar research and development. Further information
about the ASI is available at http://www.australiansolarinstitute.com.au .
About Silex Solar
SilexSolar is a wholly-owned subsidiary of Silex Systems Limited, an
ASX-listed public company which has several cutting edge technologies under
development (http://www.silex.com.au ). Silex's solar division comprises
SilexSolar and Solar Systems. SilexSolar was established in July 2009
following Silex's acquisition of the Sydney Olympic Park (SOP) solar
manufacturing facility from BP Solar. SilexSolar is now the largest integrated
photovoltaic (PV) cell and solar panel manufacturing facility in the southern
hemisphere, and the only commercial manufacturer of solar cells and panels in
Australia. For further information on SilexSolar, please visit:
In March 2010, Silex acquired the assets and business of Melbourne-based
Solar Systems Pty Ltd (SSPL). In contrast to SilexSolar's conventional panel
business which also serves the residential and commercial rooftop solar panel
market, SSPL's technology is specifically applicable to large utility-scale
solar power generation using its patented "Dense Array" concentrating
photovoltaic (CPV) solar conversion technology. This technology utilises
ultra-high efficiency PV cells (initially developed for space applications)
and is ideally suited to the burgeoning utility scale solar power station
market. SSPL's technology is in the final stages of development and is
expected to be available for commercial deployment in 2011, starting with a
~150MW solar power project planned for Mildura, Victoria -- potentially the
largest single solar power station in the world. For additional information on
Solar Systems Pty Ltd, please visit: http://www.solarsystems.com.au
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 such research to develop advanced solar cell
device designs and innovative high volume cell manufacturing processes to
achieve significant performance improvements and cost reduction breakthroughs,
and Suntech's ability to drive solar electricity generation past grid parity
against retail electricity prices in more than 50% of the world's markets.
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 further information, please contact:
Suntech Power Holdings Co., Ltd.
Investor Relations Director
Walker E. Frost
Marketing & Communications
Australian Solar Institute
SOURCE Suntech Power Holdings Co., Ltd.