Suntech Aims New Solar Panel At Utility Industry
By Cassandra Sweet, Of DOW JONES NEWSWIRES
SAN FRANCISCO -(Dow Jones)- Chinese solar-panel maker Suntech Power Holdings
Co. Ltd. (STP) unveiled a new solar panel Wednesday as part of a move to expand
into the U.S. utility solar-power market.
Suntech, based in Wuxi, China, is the world's second-largest supplier of solar
modules, behind First Solar Inc. (FSLR) of Arizona, according to market research
firm iSuppli. But the company lags behind First Solar and solar-panel maker
SunPower Corp. (SPWRA) when it comes to developing large-scale solar farms to
generate power for U.S. utilities.
Suntech's new modules, called Reliathon, are 270-watt solar panels that come
with inverters and other components that are designed to be used together in a
large-scale array mounted to the ground, as opposed to being used in smaller
rooftop systems, said Steven Chan, Suntech's chief strategy officer in San
Francisco. The new system uses fewer bolts, screws and other parts to cut labor
and material costs by a total of about 10%, he said.
Suntech has "forward sold" its Reliathon panels and related components in bids
with U.S. utilities for at least 500 megawatts of solar power generation, Chan
said, although he declined to provide details of pending deals.
Suntech is supplying the panels for a 50-megawatt solar farm in Western China
that began partial operations last month, and the company is working on a 30-
megawatt solar farm in Texas under contract with municipal utility Austin
Energy.
Shares of Suntech closed Tuesday 1.8% lower, at $14.86.
-By Cassandra Sweet, Dow Jones Newswires; 415-439-6468; cassandra.sweet@
dowjones.com
(END) Dow Jones Newswires
10-21-090515ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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