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Suntech Power (STP) Signs 3 Solar Supply Deals Totaling 490MW
Suntech Power (STP) is announcing this morning it has secured solar supply agreements with three existing customers for up to 490MW to be delivered over the next three years. The European customers include a reseller, and EPC company and a project developer.. no word on who those customers are but with a little digging 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 are expected to be delivered in 2012 (220MW) with 115MW to be supplied next year and 155MW to be supplied in 2011. The company is saying it expects to secure more longer term deals in the next few months with existing customers as they “flee to quality”.
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