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Suntech Power


announced Monday that it plans to build a factory in the U.S.

The company, which is the world's largest crystalline silicon photovoltaic module manufacturer, said it is looking at several states for a production and distribution center.

Suntech, headquartered in Wuxi, China, said it wants to invest in the strong prospects for the solar energy market in the U.S. and will decide in the next six months on the location.

Shares of Suntech closed down 6 cents to $16.44.

Also, a report released Monday says that from January to March, venture capitalists spent $277 million on clean-energy projects -- compared with $715.3 million in the same period last year, according to an Ernst & Young analysis based on data from Dow Jones Venture Source.

"Investors took a deep breath and paused," said Ernst & Young's Joseph Muscat. "The weak economy has caused demand for energy in general to go down."

Elsewhere in the solar space, shares of

Energy Conversion Devices

( ENER) closed down 6.2% to $15.96 after the company

reported a quarterly profit that was more than 80% lower than the prior year


First Solar

(FSLR) - Get First Solar, Inc. Report

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shares rose 1.4% to $193.63.

Shares of


( SPWRA) finished down 4.5% to $27.69.

Trina Solar


closed down 2.4% to $16.25.

Yingli Green Energy


finished higher by 1.7% to $9.07.

LDK Solar


closed up 1.7% to $9.77.

Solar Fun

( SOLF) closed down 2.4% to $5.36.