It’s not a done deal at this point, just a memorandum of understanding which can be broken, but Suntech (STP) and Pure Energies of Canada have agreed on a supply deal which will have STP supplying up to 17MW in solar panels next year. The MOU also provides a possible supply deal for 2011 as well.
Pure Energies servers Ontario’s rapidly growing residential solar market which has been supported by the local government.
Said Suntech Managing Director Leonard May, “The Ontario solar market is on an exciting trajectory, due to recent policy decisions and an eager customer base. We are confident in the innovative, focused approach of Pure energies and are looking forward to seeing the installations of Suntech panels spread across Ontario homeowner roofs next year.”
Shares of STP are up 3% today and looking increasingly bullish after getting back above key resistance levels in mid November.