Suntech and Krannich Solar Announce 120MW Sales Agreement

SCHAFFHAUSEN, Switzerland, May 15, 2012 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, and Krannich Solar, a leading value added distributor of complete systems, components and pre-packaged systems, announced an agreement for Suntech to supply up to 120 megawatts of solar panels in 2012.

Under the terms of the agreement, Suntech and Krannich Solar will continue to build on their solid relationship, going back to 2007, to provide high quality solar systems for resellers and installers throughout Europe and Australia. 

"Over the past few years, we have noticed a clear trend where end-customers are increasingly choosing proven and reliable products to secure their solar investments," said Vedat Guergeli, Vice President Sales and Marketing, Suntech Europe. "We're excited to continue our strong relationship with Krannich Solar as we both share the same dedication to quality and product performance and are focused on building a strong local presence and consumer trust."

Founded in 1995, Krannich Solar is one of the top five PV systems providers in Europe today. Krannich Solar's range of solar products is guided by one key principle: each and every product is put through its paces in terms of testing and quality. Products and components are included only if they are error-free and work perfectly with one another.

"We have always focused on quality – even at the peak of the solar market boom – and this strategy has been successful," said Kurt Krannich, founder of Krannich Solar. "For us, it is of the upmost importance to cooperate with global solar brands, like Suntech, that are renowned for reliability and quality."

To learn more about Suntech's efforts in making solar power affordable, please visit the Suntech Connect blog or follow us on Twitter @Suntech_Connect for regular updates.

About Suntech

Suntech Power Holdings Co., Ltd. (NYSE: STP) produces industry-leading solar products for residential, commercial, industrial, and utility applications. With regional headquarters in China, Switzerland, and the United States, and gigawatt-scale manufacturing worldwide, Suntech has delivered more than 25,000,000 photovoltaic panels to over a thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide everyone with reliable access to nature's cleanest and most abundant energy source.

For more information about Suntech's people and products visit http://www.suntech-power.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and includes the actual and expected delivery of the 120 megawatts of modules in 2011; and the clear trend where end-customers are increasingly choosing proven and reliable products to secure their solar investment. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Media Contact

Bjoern Emde
Communications Manager Europe
Suntech Power International Ltd.
Tel: +41 52 633 12 56
Email: [email protected]

Wibke Sonderkamp
GlobalCom PR-Network
Phone: +49 89 360363 40
Email: [email protected]

SOURCE Suntech Power Holdings Co., Ltd.