Suntech Power (STP) is undoubtedly on a roll with agreements in place for large solar projects. Just one one month ago the company announced agreements with several local Chinese governments to produce 1.8GW of solar powerwhich are contingent upon permits and other red tape. This morning, the company is announcing an agreement with China Huadian to develop 500MW of utility scale and commercial roof top solar projects in the Jiangsu and Shanghai provinces over the next 3 years. China Huadian will be the developer while Suntech will supply the solar modules, system design and tech support. It’s difficult to say how much of this agreement is new capacity because it did note that projects in this collaboration may include those already announced by Suntech. While great news, lets keep in mind there is likely some overlap here and all projects are still subject to feasibility studies and government approval (although don’t expect government to stand in the way of these projects).
Dr. Zhengrong Shi, Suntech’s CEO said, “China Huadian already has an impressive portfolio of renewable energy power plants and we are excited to collaborate with them to expand the adoption of solar energy in China. We are confident that solar energy will play a significant role to help China achieve its renewable energy goals and mitigate the effects of climate change.”