Suntech Power (STP) & CECIC In 5YR Partnership

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01:56:28 pm on July 24, 2009

Suntech is out with yet another press release highlighting another partnership, but it’s important to realize this is part of the overall 1.8GW announced a few weeks ago.. It appears the company issued a generalized statement of partnerships and is now following that up with more specifics.  Considering the stock is up 8 straight days and  touching new 09 highs today, the campaign is working.

Suntech (STP) and China Energy Consveration Investment Corp (CECIC) announced this morning a partnership to develop solar projects over the next five years with CECIC providing the investments and development while Suntech will provide the solar panels, design and tech support.  The companies will focus on larger scale solar projects across on-grid, off-grid, urban BIPV and solar-wind hybrid projects

Dr. Zhengrong Shi, CEO of STP said, “We are pleased to cement our relationship with CECIC. CECIC’s extensive experience in project financing and project development combined with Suntech’s high efficiency solar solutions will provide a strong foundation for the development of solar projects in China. Solar energy will help to simultaneously curb greenhouse gas emissions while meeting energy demand in China.”

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