Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, and IBC SOLAR, a leading global specialist in photovoltaic systems, today announced an agreement for Suntech to supply 50 megawatts (MW) of solar panels through the end of 2012. The agreement was recently inked after Intersolar Europe.
Suntech and IBC SOLAR began their successful partnership in 2004 with the joint goal to provide quality solar systems to resellers and installers. With this new agreement, the companies will continue to build on their solid, long-term relationship.
"Some of the criteria that we use to qualify products and brand partners include technology expertise, recognized certifications, consistent quality and long-term product availability," said Norbert Hahn, member of the board of IBC Solar. "More specifically, we value module manufacturers who invest in research and development to continuously enhance product performance and to deliver the most robust solar modules available on the market. Suntech fulfills all of these criteria and we are delighted to continue our strong partnership."
IBC SOLAR and Suntech have continuously expanded their partnership to deliver quality solar systems worldwide. The companies have worked together on a number of high-profile rooftop installations, including the New Fair Stuttgart (Germany) with a total capacity of 3.45MW as well as power plants in Osyan (India) and Warora (India) both with capacities of 5.75MW.
"Working closely with reliable and high-value business partners such as IBC SOLAR is central to our long-term strategy," explained Vedat Gurgeli, VP Sales and Marketing for Suntech Europe. "The combination of our high-quality products with the local knowledge and experience of our partners provides a good recipe for success."