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Under New Ownership Suntech Expands its Offering in Europe’s Grid Parity Markets

Posted on 2014-05-05
Milan, Italy, May 5, 2014— Wuxi Suntech, recently acquired by Shunfeng International Ltd., will showcase its leadership in solar panel innovation in Milan this week at SolarExpo 2014, recognized as one of the most important solar events in Europe.

 

Under new ownership, Wuxi Suntech is looking to expand its sales of products and services across Europe, and sees great value in the Italian market. Italy installed 1.45GW of PV during 2013, and expects to add another 1 GW per year until 2020. Suntech’s CEO Eric Luo points out that this “demonstrates the importance of this market which has matured beyond feed-in tariffs and is now both robust and self-standing.”

 

“Wuxi Suntech is embarking on a new period of significant expansion and we are well-placed to reclaim our position as the global leader in solar PV,” added Luo. “Thanks to our recent acquisition by Shunfeng, we now have the strongest financial footing in the solar industry, with nearly zero debt. Our low debt ratio means that we have the lowest financial costs in the industry, making it easier for us not only to invest in the growth of the business but also to continue to service our customers worldwide.”

 

At Solar Expo, Wuxi Suntech will showcase three new products: an integrated AC module designed for the residential market, which produces additional energy yield with less installation and maintenance cost; a black module that boosts high power, and a 1500V module designed for utility scale projects that can significantly reduce costs while maintaining high system voltage. The new products are all PID (potential induced degradation) free and have great performance in low light conditions, which is the case for many European markets. All of the new products come with Suntech’s 10-year warranty and excellent customer service.

 

“Suntech has a very exciting future as it evolves into a turnkey solution provider, allowing us to offer clients any service on the solar value chain that they may need,” Luo said. “Suntech will be able to provide one-stop access to the Shunfeng family of companies with capabilities in design, engineering, manufacturing, construction, finance, insurance, operation and maintenance, energy storage, solar products and applications. This new business model is yet unseen in the solar industry.”

 

Suntech will be onsite at Solar Expo at Booth G07, Hall 6. For further information on Suntech or to coordinate an interview with a Suntech executive at Solar Expo, please contact: Rebecca Jacobs, +972 54 577 3608
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