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green and sustainable business

Suntech inks partnerships with CECIC, China Huadian

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BIPV2suntechChina’s Suntech Power Holdings Co., is joining forces with China Energy Conservation Investment Corporation to develop solar power projects in China over the next five years.

In addition, the company signed an agreement with the China Huadian New Energy Development Co. (HNE) to develop utility-scale and commercial rooftop solar projects totaling 500mw in China’s western provinces.

The recent announcements were the latest in a flurry of moves by the world’s largest crystalline photovoltaic module manufacturer, which has regional headquarters in Beijing, Wuxi, China and San Francisco.  Suntech trades on the New York Stock Exchange under the ticker symbol STP.

Financial terms of the deals were not disclosed.

Under the partnership with CECIC, the state-owned energy conservation company will be responsible for project investment and solar project development, while Suntech will supply the solar products, system design and technical support. The plan is to develop large-scale, on-grid projects, urban building integrated photovoltaic (BIPV) projects, rural off-grid projects and wind-solar hybrid projects.

CECIC focuses on energy conservation investment and also consults on conservation and policy to government agencies.

In the deal with HNE, Suntech will supply silicon solar modules along with system design and tech support. HNE will oversee investment and solar project development.

Suntech said the projects developed under the collaborations could include solar initiatives previously announced by the company in Qinghai province, Shaanxi province, Ningxia province’s Shizuishan city, Panzhihua in Sichuan province and in Jiangsu province.

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Written by William DiBenedetto

30 July, 2009 at 11:26 am

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