Suntech (STP) Signs Contract With Recurrent Energy

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08:28:10 am on August 5, 2009

Suntech just announced that they have signed a supply contract with Recurrent Energy. Under the contract, Suntech will supply Recurrent with more than 25,000 modules. Recurrent will use these to construct a 5 MW solar installation on top of San Franscisco’s Sunset Reservoir. Suntech will deliver all of the modules in the 4th quarter of this year.  This is California’s largest solar project thus far, and will more than triple San Francisco’s current solar energy capacity.

When the project is finished, Recurrent will own the solar installation and will sell the power it produces to the City and County of San Francisco. Per the agreement, Recurrent will also assume all financing, construction, and operating obligations.

In a press release, executives from both Recurrent and Suntech commented on the importance of the project and why Suntech’s modules were selected:’

“Suntech America and Recurrent Energy are both San Francisco-based
companies and we are proud to jointly participate in bringing a green energy
future to this wonderful city,” said Steven Chan, Suntech’s Chief Strategy
Officer and President, Global Sales/Marketing. ”Working together, we can help
reduce dependence on fossil fuels throughout North America. Forward-thinking
projects such as the Sunset Reservoir system set a notable precedent for
reducing greenhouse gases and stimulating a national green economy.”

”The combination of the system design and Suntech modules will help us to
deliver the maximum amount of solar energy and environmental benefits over the
lifetime of the Sunset Reservoir project,” said Arno Harris, CEO of Recurrent
Energy. ”This PV system is expected to produce enough renewable energy to
provide for 1,000 typical City residents, avoiding the release of more than
109,000 metric tons of carbon dioxide emissions.”

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