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Suntech Power in Legal Spat With Q-Cells

NEW YORK ( TheStreet) -- Chinese solar giant Suntech Power (STP) and German solar leader Q Cells are in a legal spat.

Suntech Power revealed the difference of opinion -- over 14.7 million euros -- in a Securities and Exchange Commission filing made after the market close on Wednesday.

Suntech Power stated in its filing that at the beginning of September, Q Cells filed a lawsuit in Berlin against Suntech Power claiming alleged breach of a solar cell supply contract through 2008. Suntech Power stated that the contract was first entered into in June 2005.

The news of a lawsuit involving Q Cells was far from the biggest news in solar out of Germany on Wednesday. Earlier in the day, German solar inverter giant SMA Solar put a scare into the solar markets with an extremely cautious outlook about solar demand in 2011.

Details were scant in the Suntech Power filing. It noted that the contract between the Chinese solar and German solar giant was entered into prior to Suntech's acquisition of MSK Corporation (now Suntech Power Japan Corporation) with a term through December 31, 2010. The legal complaint is lodged specifically against the Japanese affiliate of Suntech.

Suntech Power's filing included the boilerplate legal defense, stating that it is in the process of evaluating the suit, and "intends to vigorously defend against the claim."

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