Suntech signs 30MW agreement with Enel

SAN FRANCISCO, USA & WUXI, CHINA: Suntech Power Holdings Co. Ltd, a leading manufacturer of photovoltaic (PV) cells and modules, has signed a two-year agreement with Enel.si, a subsidiary of Enel, Italy's largest power company, to supply 30MW of PV modules in late 2008 and 2009.

"This agreement with Enel.si is in-line with our strategy to establish mutually beneficial, long-term relationships with companies that are well positioned to service the growing demand for solar energy," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "Enel.si, which has a strong marketing and sales network in Italy based on a franchise installer network, is an ideal partner for Suntech and we look forward to building our relationship in the future."

"Suntech has an excellent reputation for delivering premium quality, high power output solar modules and we are pleased to enter this partnership with them," commented Riccardo Felicioli, Enel.si managing director. "Renewable energy solutions will no doubt play an increasingly important role in the total energy mix, and Enel.si is committed to supporting broader adoption of these technologies."

Commenting on the growing demand for solar in Italy and the rest of the world, Dr. Shi added, "With its substantial solar irradiation, relatively high cost of grid electricity, and favorable solar subsidies, Italy is set to embrace solar as part of its renewable energy portfolio.

In addition, demand from other key markets including Germany, Spain, France, South Korea, and the US is generating a strong pipeline for 2009. Our broad product portfolio, extensive international sales network, and clear value proposition should enable us to extend our market positions in these countries next year."