SAN FRANCISCO, Calif., Sept. 29, 2011 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, announced today that it has supplied solar panels for two solar power plants in central California. Built and engineered by Cupertino Electric, Inc.'s (CEI) Energy Alternatives Division, the 20MW (AC) and 15MW (AC) projects, located in Helm and Five Points, Calif., respectively, feature more than 150,000 of Suntech's multicrystalline solar panels for utility-scale electricity generation.
Construction of the two fast-track projects began in earnest in April 2011. The projects were designed and built by Cupertino Electric for Pacific Gas and Electric Company (PG&E) under the utility's five-year, 500MW clean energy initiative. The PG&E program includes up to 250MW of utility-owned solar generation.
"Suntech's ability to deliver large volumes of high-quality solar panels, backed by meaningful guarantees, helped us to meet PG&E's fast-paced schedule," said Tim Jensen, project executive with Cupertino Electric, Inc. "Our successful delivery of this project to PG&E was made possible by the contributions of reliable subcontractors and suppliers like Suntech."
"Solar is one of the fastest generation assets that you can build, as demonstrated by Cupertino Electric with these two well-designed and well-executed projects," said Mick McDaniel, vice president of Utility Sales Division for Suntech America. "Although the economics will continue to improve, solar technology is ready today to provide cost-effective, large-scale solutions for electricity generation."About Cupertino Electric, Inc. Cupertino Electric, Inc. (CEI) is headquartered in San Jose, Calif. and has provided expert engineering and construction services for a constantly evolving world for more than 57 years. Its Energy Alternatives Division designs, constructs and manages innovative solar and alternative energy solutions. For more information, visit www.cei.com/energy About Suntech Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's largest producer of solar panels 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 15,000,000 photovoltaic panels to over a thousand customers in more than eighty 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 solar technology's ability to deliver cost effective solutions for power generation. 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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV