SOLAR PANELS CHINA: SUNTECH

April 21, 2011 at 8:53 pm | Posted in China, Earth, Ecology, Economics, Financial, Research, Science & Technology | Leave a comment

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Suntech Power Holdings Co., Ltd.

Suntech Power Holdings Co., Ltd. (Chinese: pinyin: Shàngdé) (NYSESTP) is the world’s largest producer of solar panels, with 1,800MW of annual production capacity by the end of 2010. With offices or production facilities in every major market, Suntech has delivered more than 13,000,000 solar panels to thousands of companies in more than 80 countries around the world [3]. As the center for the company’s global operations, Suntech Headquarters, in Wuxi, China, features the world’s largest building integrated solar facade[4].

Installations

Suntech Power has supplied or installed solar modules for numerous solar power plants and systems around the world. Notable installations include:

The company’s Suntech Energy Solutions division completed Google‘s 1.6 MW solar installation in June 2007.[5]

Suntech Power joined with Israeli company Solarit Doral to build Israel’s largest solar power station, a 50 kW rooftop project in the Israeli settlement of Katzrin in the Golan Heights, which was connected to the electricity grid in December 2008.[6][7]

Global Operations

Suntech Power has representative offices in China, Australia, the United States, Switzerland, Spain, Italy, Germany, Japan, and Dubai, as well as production facilities in Wuxi, Luoyang, Qinghai, Shanghai, Germany, Japan, and Goodyear, Arizona.

Suntech America is based in San Francisco, California, and the company has plans to start a production facility in Phoenix, Arizona in 2010.[8] Suntech also has executives of their US operations in top posts in American solar panel industry groups.[9]

Awards

Suntech Power was recognized as the 2008 Frost & Sullivan Solar Energy Development Company of the Year. Frost & Sullivan Research Analyst Mary John commented on the recognition, “The company’s pioneering success in developing energy-efficient, cost-effective and customizable building integrated photovoltaic (BIPV) systems and crystalline PV cells, and modules for solar energy conversion into electricity are highly commendable. It has gone beyond just meeting global energy needs to anticipating them as well and highly satisfied customers testify that the BIPV systems and other energy-efficient products are customized precisely to their needs.”[10]

The Andalay AC Solar PV Panel was awarded one on MSN’s most brilliant products of 2009 because of innovations that advanced their ease of installation and use.[11] Suntech Power is one of the main manufacturers of components for the Andalay Solar Panel sold by Akeena Solar (AKNS).[12]

Founder

Dr Shi Zhengrong (born c. 1963[13]) is the founder [14], chairman and chief executive officer of Suntech Power.

He is a graduate of the University of NSW‘s School of Photovoltaic and Renewable Energy Engineering.[15][16] At UNSW, Dr. Shi studied under Professor Martin Green and met Stuart Wenham, now Suntech’s Chief Technology Officer.

Dr. Zhengrong Shi was honored in January 2010 as a finalist for the Zayed Future Energy Prize. In 2007, Dr. Shi was named one of Time Magazine’s Heros of the Environment.He is often referred to as the world’s first ‘green billionaire’.[17]

Investors

Before going public on the NYSE in 2005, Suntech was funded by a consortium of private equity firms, including Actis Capital and Goldman Sachs. The consolidated private equity investment into Suntech is generally considered to be one of China’s most profitable private equity investments ever, as each firm is thought to have made gains well over 10x on their original investments.

See also

References

  1. 1.                              a b c Suntech’s annual income statement via Wikinvest
  2. 2.                              a b Suntech’s annual balance sheet via Wikinvest
  3. 3.                              http://ir.suntech-power.com/phoenix.zhtml?c=192654&p=irol-newsArticle&ID=1533389&hilight=
  4. 4.                              http://www.green-energy-news.com/nwslnks/clips109/jan09010.html
  5. 5.                              Google Solar Panel Project
  6. 6.                              Israel opens largest solar plant with Chinese help, December 10, 2008.
  7. 7.                              Chinese PV pioneer helps build Israel’s biggest solar power station, Xinhua, December 9, 2008.
  8. 8.                              http://phx.corporate-ir.net/phoenix.zhtml?c=192654&p=irol-newsArticle&ID=1355511&highlight=
  9. 9.                              Retrieved November 12, 2009, from Solar Energy Industries Association: About: SEIA Board website: http://www.seia.org/cs/seia_board
  10. 10.                         http://www.redorbit.com/news/business/1342480/frost__sullivan_recognizes_suntech_power_for_its_technical_expertise/index.html
  11. 11.                         MSN Tech and Gadgets. 10 Most Brilliant Products of 2009. Retrieved November 12, 2009, from MSN website: http://tech.msn.com/products/slideshow.aspx?cp-documentid=22104619&imageindex=6
  12. 12.                         Google Finance. Akeena Solar, Inc. (Public, NASDAQ:AKNS). Retrieved November 12, 2009, from Akeena Solar Inc. company profile website: http://www.google.com/finance?q=NASDAQ:AKNS
  13. 13.                         The alternative rich list. September 22, 2006. Accessed May 7, 2007.
  14. 14.                         [1]
  15. 15.                         School of Photovoltaic and Renewable Energy Engineering
  16. 16.                         Dr. Zhengrong Shi
  17. 17.                         http://www.time.com/time/specials/2007/article/0,28804,1663317_1663322_1669932,00.html

Suntech Power Holdings Co., Ltd. Type Public (NYSESTP)

Industry Photovoltaics

Founded September 2001

Founder(s) Shi Zhengrong

Headquarters Wuxi, Jiangsu province, People’s Republic of China Number of locations United States, Germany, Switzerland, Japan, Australia, Italy, Spain

Revenue US$1.92 Billion (FY 2008)[1] Operating income US$215 Million (FY 2008)[1] Net income US$87.9 Million (FY 2008)[1] Total assets US$3.22 Billion (FY 2008) [2] Total equity US$1.07 Billion (FY 2008)[2] Website www.suntech-power.com/

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