Suntech Power Holdings Co., Ltd. (NYSE: STP), the world’s largest crystalline silicon photovoltaic (PV) module manufacturer has recently announced that Suntech has entered into a strategic agreement with China Energy Conservation Investment Corporation (CECIC) to develop solar projects over the next five years.

Through the partnership CECIC will primarily be responsible for project investment and solar project development and Suntech will supply solar products, system design and technical support. Suntech and CECIC plan to focus on the development of large scale on-grid projects, urban BIPV projects, rural off-grid projects, and wind-solar hybrid projects.

"CECIC is pleased to establish this strategic agreement with Suntech," explained Mr. Xiaokang Wang, General Manager of CECIC. "Suntech has proven itself to be a global leader in technological innovation and product quality in the field of photovoltaics and is clearly dedicated to sustainability initiatives. This partnership represents an important step forward in our mission to fulfill the mandates set forth by the Chinese government to achieve environmental sustainability through renewable energy generation."

Dr. Zhengrong Shi, Chairman and CEO of Suntech remarked, "We are pleased to cement our relationship with CECIC. CECIC’s extensive experience in project financing and project development combined with Suntech’s high efficiency solar solutions will provide a strong foundation for the development of solar projects in China. Solar energy will help to simultaneously curb greenhouse gas emissions while meeting energy demand in China."

Projects developed through this collaboration may include solar projects previously announced by Suntech including those in Qinghai province; Shaanxi province; Shizuishan city, Ningxia province; Panzhihua city, Sichuan province; and Jiangsu province. Separate project-specific agreements will be signed prior to the implementation of solar projects related to this agreement.

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