Suntech Power Announces Three Huge Deals In Europe (STP)
Suntech Power (STP) is announcing this morning it has secured solar supply agreements with three existing customersfor up to 490MW to be delivered over the next three years.
TheEuropean customers include a reseller, and EPC company and a projectdeveloper.. no word on who those customers are but with a littledigging we could probably find out. No word on the financials either,but this is a substantial win for Suntech and the stock is responding,up about 3% in premarket trading. Most of the solar modules areexpected to be delivered in 2012 (220MW) with 115MW to be supplied nextyear and 155MW to be supplied in 2011. The company is saying itexpects to secure more longer term deals in the next few months withexisting customers as they “flee to quality”.
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