Suntech (STP) Signs Agreements For Multi-Gigawatt Chinese Solar Projects

Suntech just announced that it has entered into agreements withseveral Chinese provincial and city governments for solar projects.

The agreements are as follows: 300 MW for the Shaanxi provincialgovernment, 500 MW for the Shizuishan city government in Ningxiaprovince, 500 MW for Qinghai provincial government, and 500 MW forPanzhihua city government in Sichuan province, for a grand total of1.8GW. The agreements are contingent on several conditions. Suntechwill need to get relevant government permits, create the designs andsecure the financing.

In a press release, Dr. Zhengrong Shi, Suntech’s Chairman and CEO, commented on the agreement:

“These strategic agreements demonstrate the commitment ofgovernments of Shaanxi, Shizuishan, Qinghai and Panzhihua to adoptutility scale solar energy to power sustainable development. Plentifulsolar resources combined with Suntech’s premium quality solar systemscan deliver decades of clean, renewable electricity throughout manyregions in China. With ongoing investment in technology and innovation,Suntech is determined to continue to drive the cost to grid parity andencourage greater adoption of solar throughout China.”

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