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Suntech to deliver up to 490 MW of solar PV modules to Europe

Suntech Power Holdings Co Ltd has signed three long-term supply agreements for up to 490 MW of solar photovoltaic (PV) modules to be delivered over the next three years in Europe.

The unnamed customers are three of Suntech's strategic long-term partners in Europe.

Suntech plans to deliver 115 MW of solar PV modules in 2010, 155 MW in 2011 and 220 MW in 2012, with the option to increase volumes.

Suntech says it anticipates to conclude additional long-term supply agreements during the next few months reflecting a "flight to quality" solar companies that have bankable products, and the capability and credibility to support long-term growth.

"Customers choose to partner with Suntech because of our proven commitment to quality, reliability and performance, which is backed up by over 1.5 GW of installations," said Jerry Stokes, Suntech's VP of Strategy and Business Development.

"With the solar market expected to resume strong annual growth in 2010 and beyond, it is essential for both our partners and Suntech to gain a clearer understanding of future market drivers and project pipelines. This will enable us to align product specifications, performance and market demand with capacity expansion and to differentiate our products and the solutions offered by our partners."

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