Suntech Power (STP) Helps Build Largest Solar Power Station In Israel; Enters Into Licensing Deal With Open Energy Corp (OEGY)

Suntech Power (STP) is celebrating the inauguration of Israel’s largest and most efficient solar power station, which it helped to build with local company, Solarit Doral.  The 50 KW rooftop farm will produce approximately 85,000 kw hours of clean energy annually.

In other news today, the company has announced a licensing agreement with Open Energy Corp (OTC: OEGY) in which Suntech will manufacture, license, distribute and market Open Energy’s solar roof tile product. 

“The relationship with Suntech gives Open Energy access to unmatched manufacturing capabilities and a worldwide distribution network, with particular strength in Europe and Asia,” said David Field, president & chief executive officer of Open Energy. “This allows us to reach even more international customers and gives us the opportunity to concentrate on our award-winning and innovative product design for next generation products. As the solar industry continues to grow in 2009 particularly in Europe, where BIPV solar systems enjoy substantial market premiums, it will be critical to have the reach and scale that the relationship with Suntech brings to our company. We chose to work with Suntech because they have world class manufacturing, an incredible sales force and a solid foundation of resources and customers.”

Leave a Reply

Your email address will not be published. Required fields are marked *