Suntech Power Holdings Co., Ltd. (NYSE: STP) today announced plans to establish solar manufacturing in the U.S.
The company is currently exploring opportunities in several states for a production and distribution center as part of its strategy to create a long-term presence within the U.S.
Dr. Zhengrong Shi, Suntech's Chairman and CEO said, "A number of favorable developments have led us to this decision, including the dramatic growth in utility demand for large-scale wholesale solar projects, the increasing number of states with incentive programs for customer-owned systems and the federal government's recent stimulus package, all of which will drive steady, long-term growth in demand."
Suntech plans to make a decision within the next six months as to the location of our U.S. facility based on a variety of criteria, including local manufacturing incentives and long-term policy commitments.
By locating manufacturing facilities close to its customers, Suntech said it can drastically reduce logistics issues and costs, thereby reducing carbon emissions due to the transport of modules and increasing just-in-time delivery capabilities.
Suntech is one of the world's leading solar energy companies as measured by production output of crystalline silicon photovoltaic (PV) modules.
