Suntech
 |
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| Public | |
| Traded as | OTC Pink: |
| Industry | Photovoltaics |
| Founded | September 2001 |
| Founder | Shi Zhengrong |
| Headquarters | Wuxi, Jiangsu, China |
|
Number of locations
|
United States, Germany, Switzerland, Japan, Australia, Italy, Spain |
| Revenue |
 US$3.15 Billion (FY 2011) |
 -US$616 Million (FY 2011) |
|
|
-US$1.00 Billion (FY 2011) |
|
| Total assets |
US$2.09 Billion (FY 2011) |
| Total equity |
US$946 Million (FY 2011) |
| Parent | Shunfeng International Clean Energy Limited |
| Website | www.suntech-power.com/ |
Suntech Power Holdings Co., Ltd. (Chinese: 尚德; pinyin: Shàngdé) is a Chinese producer of solar panels, with 2,000MW of annual production capacity by the end of 2011. It is headquartered in Wuxi, Jiangsu. Shunfeng International Clean Energy Limited, a HKSE listed renewable energy investment and Independent Power Producer company, acquired Suntech in 2014 following Suntech's bankruptcy in 2013. With offices or production facilities in every major market, Suntech has delivered more than 13,000,000 solar panels to thousands of companies in more than 80 countries around the world. As the center for the company's global operations, Suntech headquarters, in Wuxi, China, features the world's largest building integrated solar facade.
Suntech's fortunes have declined significantly since its peak in 2008, due to a glut in the market for solar products and problems with its investments. In March 2013 it announced a US$541 million bond payment default, becoming the first company from mainland China to default on its US bonds. Chinese banks subsequently filed to place Suntech’s main unit, Wuxi Suntech Power Holdings Co., Ltd., into insolvency. The company's American Depository Receipts were subsequently delisted from the New York Stock Exchange and placed on the over the counter (OTC) exchange.
Suntech Power has representative offices in China, Australia, the United States, Switzerland, Spain, Italy, Germany, Japan, and Dubai, as well as production facilities in Wuxi, Luoyang, Qinghai, Shanghai, Germany, Japan, and Goodyear, Arizona.
Suntech America is based in San Francisco, California, and the company has plans to start a production facility in Phoenix, Arizona in 2010. Suntech also has executives of their US operations in top posts in American solar panel industry groups.
Suntech Power has supplied or installed solar modules for numerous solar power plants and systems around the world. Notable installations include:
The company's Suntech Energy Solutions division completed Google's 1.6 MW solar installation in June 2007.
Suntech Power joined with Israeli company Solarit Doral to build a 50 kW rooftop project in the Israeli settlement of Katzrin in the Golan Heights, which was connected to the electricity grid in December 2008.
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Wikipedia