September 30, 2008
SAN FRANCISCO and WUXI, China, Sept. 30 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP - News), one of the world's leading manufacturers of photovoltaic cells and modules, today announced it has been selected to supply 1.6 megawatt (MW) of solar panels to Sun Devil Solar LLC, a wholly owned subsidiary of Integrys Energy Services, for its project with Arizona State University (ASU). The project will be installed on top of two elevated parking structures in the middle of the ASU's main campus using an innovating tracking system. The solar installations are to be completed by the end of 2008.
The total project size of 1.6 MW makes it one of the largest university installations in the United States. It will generate more than 3 million kilowatt hours annually, enough electric generating capacity to run approximately 3,680 computers at the university or the equivalent of 260 Arizona households. The project will also reduce 2,260 tons of carbon emissions per year -- equivalent to taking 425 cars off the road.
"We are pleased our ground-breaking project will be powered by Suntech solar panels. Suntech's high quality panels will ensure ASU is able to reap the benefits of clean, green solar energy for many years to come," said Jonathan Fink, Director of the Global Institute of Sustainability and University Sustainability Officer at ASU. "We believe in the potential of solar to become a cost-effective energy solution and hope that ASU's large solar installation and solar R&D initiatives will encourage further solar adoption throughout Arizona and at other universities throughout the U.S."
ASU has long term plans to install 7 MW of solar-generating capacity at the Tempe campus as well as other campus locations. In addition, the university has a wide range of sustainability initiatives and has established the world's first School of Sustainability. ASU has received multiple awards and grants from the US Department of Energy's Solar America Initiative to support ongoing solar research.
"We commend Arizona State University for their vision of sustainability and commitment to solar energy," said Roger Efird, President of Suntech America. "With an extremely sunny climate, the state of Arizona is well situated to be at the forefront of solar adoption in the U.S., and ASU's solar programs are ensuring that Arizona is also at the forefront of solar research."
This first phase 1.6 MW solar installation will be owned and operated by Sun Devil Solar LLC, a wholly owned subsidiary of Integrys Energy Services. Integrys Energy Services, a subsidiary of Integrys Energy Group (NYSE: TEG - News ), is investing in and promoting renewable energy company-wide, which it believes is one key to the future of its industry. To support this value, Integrys Energy Services has systematically reduced its investment in non-renewable production and devoted significant capital to the development of solar, wind and landfill-to-gas operations.
"Renewable energy from fuel sources such as solar offers huge potential for air quality and global climate change concerns, and for the growth of sustainable alternatives on the path toward the energy supply of the future. Integrys Energy Services is committed to environmental stewardship and is pleased to be involved in this innovative project that is smart for business, for the University and for the environment," said Mark Radtke, President of Integrys Energy Services.
The ASU solar installation is partly subsidized through a Renewable Incentive Program implemented by APS, Arizona's largest electric utility. The program, which is approved by the Arizona Corporation Commission and funded by customers, provides financial incentives to residential and commercial customers who add renewable systems such as solar water heaters, solar electric systems and small windmills.
The Incentive Program is just one of several Green Choice Programs offered by APS including offering special Green Rates to increase the amount of utility-scale renewable energy a customer receives, supporting a program that offers Compact Florescent Light bulbs at a substantial discount, and providing rebates to customers who install high-efficiency air conditioners.
"We're excited to partner with ASU on this important solar installation. Not only is it a great example for other Arizona businesses, but the more renewable energy produced by ASU, the better able APS can manage the rising cost of infrastructure that is needed to meet the growing energy needs of Arizona," said Barbara Lockwood, APS' Renewable Energy Manager.
The project team includes SolEquity, Inc. of Scottsdale, AZ and CarbonFree Technology Inc. of Toronto, ON, as project developers, ViaSol Energy Solutions of Tempe, AZ, as the prime contractor and ETA Engineering and IronCo Enterprises as subcontractors.
About APS
APS, Arizona's largest and longest-serving electricity utility, serves about 1.1 million customers in 11 of the state's 15 counties. In 2008, APS won its second Edison Award in recognition of innovative leadership and operational excellence in the electric industry. Given annually by the Edison Electric Institute, the Edison Award is considered the industry's most prestigious honor. With headquarters in Phoenix, APS is the principal subsidiary of Pinnacle West Capital Corp. (NYSE: PNW - News). More information on APS renewable energy programs can be found at www.aps.com.
About Suntech
Suntech Power Holdings Co., Ltd. is a world leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of BIPV products under the MSK Solar Design Line(TM). Suntech has sales offices worldwide and is a market share leader in key global solar markets. For more information, please visit http://www.suntech-power.com.
About Integrys Energy Services
Integrys Energy Group, Inc. (NYSE: TEG - News), headquartered in Chicago, is a holding company for energy related subsidiaries, which includes regulated utilities and nonregulated subsidiaries. The company's principal nonregulated subsidiary is Integrys Energy Services, Inc., a diversified nonregulated energy supply and services company serving residential, commercial, industrial, and wholesale customers in developed competitive markets in the United States and Canada. The six regulated utilities consist of: The Peoples Gas Light and Coke Company, Wisconsin Public Service Corporation, Minnesota Energy Resources Corporation, Michigan Gas Utilities Corporation, North Shore Gas Company, and Upper Peninsula Power Company. More information about Integrys Energy Group, Inc. is available online at http://sustainability.asu.edu.
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 include the ability to successfully install the solar system, the reduction of carbon emissions the solar system is expected to achieve, the amount of power the solar system will be able to generate, and the scheduled completion date of the solar system. 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.
For further information please contact
In China:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings, Co. Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
In the United States:
Sanjay M. Hurry
Vice President
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
Media Contact for Arizona State University:
Karen Leland
Director, Communications/Marketing
Global Institute of Sustainability
Arizona State University
480-965-0013
karen.leland@asu.edu