Suntech Power Holdings Co., Ltd (NYSE: STP), the world's largest producer of solar panels, is now offering solar panels that satisfy local content requirements for solar projects in Ontario, Canada. Using 100% Ontario-refined silicon, Suntech's qualifying 225Wp and 275Wp solar panels will help local partners receive approval under Ontario's microFIT and FIT Programs.
As of January 1, 2011, the Ontario microFIT and FIT Programs require solar projects to utilize 60% domestic content. Suntech's high-quality solar panels can now contribute 10% and 11% compliance to the microFIT and FIT Programs respectively, thus enabling solar project developers to achieve the required 60% threshold. Solar project developers can now apply to receive approval for their domestic content plans using Suntech solar panels.
"With Suntech 225Wp and 275Wp solar panels, we have a world-class option for delivering solar projects in Ontario," said Eric Kalmbach, Chief Operating Officer of NorthGrid Solar Inc. "Ontario FIT compliance enables us to continue providing the high level of excellence we demand from our suppliers. Competition is healthy for the solar industry in Ontario and globally. It leads to better quality and, most importantly, helps to drive down the cost of solar electricity, which ultimately encourages even further investment."
Suntech's qualifying solar panels utilize 100% Ontario-refined silicon produced by Calisolar Inc., a privately held, vertically integrated manufacturer of solar silicon, wafers and cells.
"Readily available, high-quality solar silicon is critical to the solar value chain and growth of the solar industry," commented Calisolar CEO Sandra Beach Lin. "Suntech has been working with us for three years and continues to invest resources and effort to make our operations in Ontario world class. This is a great opportunity for our two companies to help meet Ontario's renewable energy goals while creating 75 high-quality jobs in Ontario."