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Suntech Signs 30MW Supply Agreement with Enel.si

Posted on 2008-07-29

SAN FRANCISCO and WUXI, China, July 29 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's leading manufacturers of photovoltaic (PV) cells and modules, today announced it has signed a two-year agreement with Enel.si, a subsidiary of Enel, Italy's largest power company, to supply 30MW of PV modules in late 2008 and 2009.

"This agreement with Enel.si is in-line with our strategy to establish mutually beneficial, long-term relationships with companies that are well positioned to service the growing demand for solar energy," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "Enel.si, which has a strong marketing and sales network in Italy based on a franchise installer network, is an ideal partner for Suntech and we look forward to building our relationship in the future."

"Suntech has an excellent reputation for delivering premium quality, high power output solar modules and we are pleased to enter this partnership with them," commented Riccardo Felicioli, Enel.si managing director. "Renewable energy solutions will no doubt play an increasingly important role in the total energy mix, and Enel.si is committed to supporting broader adoption of these technologies."

Commenting on the growing demand for solar in Italy and the rest of the world, Dr. Shi added, "With its substantial solar irradiation, relatively high cost of grid electricity, and favorable solar subsidies, Italy is set to embrace solar as part of its renewable energy portfolio. In addition, demand from other key markets including Germany, Spain, France, South Korea, and the U.S. is generating a strong pipeline for 2009. Our broad product portfolio, extensive international sales network, and clear value proposition should enable us to extend our market positions in these countries next year."

About Enel.si

Enel.si is a 100% subsidiary of Enel and is active in photovoltaic, solar thermal, miniwind energy and other products and services related to an efficient use of power and gas. Enel.si has a strong marketing and sales network in Italy based on a franchising installers network.

Enel is Italy's largest power company and Europe's second listed utility by installed capacity. It produces and sells electricity and gas across Europe, North and Latin America. Further to the acquisition of the Spanish utility Endesa, Enel has now a presence in 21 countries with 75,500 MW of generating capacity and serves more than 50 million power and gas customers.

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