Suntech Power Holdings Co., Ltd.
(
STP
) has entered into an agreement with IBC SOLAR to deliver 50
megawatts (MW) of solar panels through the end of 2012. IBC SOLAR
is a leading global specialist in photovoltaic systems.
Suntech and IBC SOLAR have been working together since 2004 to
deliver quality solar systems worldwide. The high-profile rooftop
installations on which they have worked include the New Fair
Stuttgart (Germany) with a total generation capacity of 3.45 MW as
well as 5.75 MW power plants in Osyan and Warora, India.
Suntech continuously focuses on research and development to
enhance product performance. Its solar panels are popular and are
preferred by customers due to their superior technology, recognized
certifications, and consistent quality. Suntech's solar panels
feature 5% power tolerance and have been built to survive in all
weather conditions, including 3.800 Pascal wind load and 5.400
Pascal snow loads that are well above the IEC standard
requirements. They have a 25-year power output warranty.
Last month, the company presented a high efficiency, 60-cell,
255-watt polycrystalline module (STP255-20Wd) at Intersolar Europe
2012. This new module can be incorporated into almost any kind of
solar application and makes use of optimized metallization
technology to boost efficiency. This new module is suitable to
operate in coastal applications as well. It has an anti-reflective
hydrophobic layer that reduces surface dust and allows the module
to absorb more light, achieving superior weak-light performance and
enhanced module performance over time.
Orders have also been flowing in for the world's largest
producer of solar panels. In May this year, Suntech entered into an
agreement with Krannich Solar to supply 120 megawatts of solar
panels in 2012. In fact, global demand for solar panels increased
by about 40% in 2011.
Suntech Power serves a geographically diversified customer base.
The company is prudently expanding its revenue base to divergent
markets around the globe, along with increasing megawatts shipped.
Positive factors include ongoing expansion programs, higher
conversion efficiency through its Pluto technology-enabled modules,
China's subsidy program and improving operating efficiencies.
However, the positives are tempered by fears of tepid module
demand in Europe, rising competition, the volatile euro and the
financial stability of its customers.The company presently retains
a short-term Zacks #3 Rank (Hold) that corresponds with our
long-term Neutral recommendation on the stock. The company mainly
competes with
First Solar, Inc.
(
FSLR
).
FIRST SOLAR INC (FSLR): Free Stock Analysis
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SUNTECH PWR HLD (STP): Free Stock Analysis
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