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NEW YORK/WUXI, China- Feb. 10, 2009 -- Executives of Suntech Power Holdings Ltd (NYSE: STP) led by Chairman and CEO, Dr. Zhengrong Shi, and government officials today opened the NYSE market from Wuxi, China, to celebrate the recent completion of the company’s new solar-powered head office building.
The facility’s 1MW solar façade is the world’s largest grid-connected, building-integrated solar system and represents an important step in the ongoing development of the Chinese, U.S. and global solar market.
“We applaud Suntech’s renewable energy initiatives and welcome the opening of the NYSE market from China by Dr. Shi,” said NYSE Euronext CEO Duncan Niederauer. “Suntech has quickly become a leading global brand, and its new solar-powered headquarters make the company a major user of solar panels as well, setting a great example for others to follow.”
“I am honored to ring the bell opening the world’s leading financial market, and I thank our customers, our partners, our investors and most importantly our employees for the tremendous support that has enabled us to be here today,” said Dr. Zhengrong Shi, Chairman & CEO, Suntech Power Holdings Co. Ltd. “Our listing on the NYSE was a milestone in Suntech’s development that has enabled us to accelerate towards our goal of delivering cost-effective solar solutions globally.”
Suntech Power Holdings Co. Ltd is the first Chinese company to ring the remote opening bell for the NYSE from China. Mr. Yang Weize, Party Secretary of Wuxi City and Mr. Tan Xueming, Vice Mayor of Wuxi City, joined Dr. Shi for the remote opening bell.
Suntech Power Holdings Co. Ltd listed on the NYSE after its successful IPO in December 2005, the first privately-owned company from China to list on the NYSE in addition to the Chinese State-Owned Enterprises that were already listed.
NYSE Euronext-listed Chinese Companies:
--The total global market capitalization of the 56 NYSE Euronext-listed companies from Greater China is approx. $1.2 trillion. --In 2008, NYSE Euronext markets listed 7 companies from China, including 4 on its markets in Europe and 3 on its US markets. All those were entrepreneurial growth companies.
Background about Suntech Power’s new headquarters:
Suntech Power’s newly finished headquarters building features the world largest solar façade, in Wuxi, China. Some 2,552 pieces of Light ThruTM solar modules (poly silicon cells laminated in double-layer of tempered glass) cover an area of 6,900sqm along two adjacent building fronts. With an additional 300kW rooftop system to be installed on the building, the total solar energy installed will be over 1MW, generating more than one million kWh of electricity per year. In combination with other energy-saving technologies such as energy efficient building materials and a water recycling system, 80% of power demand of the building will be covered, reducing CO2 emission by 600 tons and eliminating the use of 367 tons of standard coal per year.
The 18,000 square meter building features not only solar energy and energy efficiency measures, the unique architectural design using the LightThru panels also provides extensive natural lighting, creating a harmonious connection between the people inside and the outside environment. Fish ponds, rocks, trees and a balcony are incorporated into the interior of the building. The façade was installed by Suntech’s engineering team.