Dec 2 2009
Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's leading manufacturer of crystalline silicon photovoltaic (PV) modules, today announced it has signed a memorandum of understanding ("MOU") with Ontario, Canada's Pure energies to supply up to 17MW in 2010.
The MOU, which also provides a framework for module supply from Suntech to Pure energies through 2011, is focused on bringing affordable, high-quality solar systems to Ontario's rapidly growing residential solar market.
Pure energies, while meeting the domestic content requirement for 2010, will deploy Suntech's industry-leading panels for its unique offering to the Ontario residential market, enabling the development of 'eco friendly' homes. Pure energies installs, leases and operates the solar systems for its customers. Pure energies' offering is bolstered by the Ontario Power Authority's (OPA) microFIT Program, designed to encourage the development of sub 10kW renewable energy projects across the province.
"Our agreement with Suntech is yet another win in establishing Pure energies' brand name for the booming Ontario solar market," said Ryan McCalley, Vice President and Co-Founder. "By securing Suntech's high quality panels and reliable supply our customers can trust the quality and value they're getting when they decide to take advantage of our unique offering."
"The Ontario solar market is on an exciting trajectory, due to recent policy decisions and an eager customer base," said Leonard May, Managing Director, North America Sales, Suntech. "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."
Pure energies will begin marketing Suntech panels immediately for installations beginning in 2010.