suntech power holdings-adr (STP) Snapshot

Suntech Power Holdings Co. Ltd. announced that its European Union anti-dumping (AD) tariff free modules, Residential Energy Storage System, and double glass module will be on display at Intersolar 2013 in Munich, Germany. Suntech will be able to provide an EU AD tariff-free version of all its standard modules including Wd mono, Wd poly and Ve poly for customers in the European market. The module's components will be manufactured outside of Mainland China and will not be subject to the trade tariffs announced by the European Union on June 5th, 2013. Suntech's Residential Energy Storage System will qualify for the recently announced subsidy for self-consumption PV systems with storage in Germany. RESS has several modular power options available for a peak capacity from 4.5kWh to 17.8kWh, includes a lithium battery with an incentive policy compliant warranty and is available in either alternating current (AC) or direct current (DC) main circuit for on-the-grid or off-the-grid applications. RESS will also feature a touch-screen interface for easy operation and an intelligent control system that can be accessed remotely for real-time monitoring. Suntech's new double glass module, the Wdj series, substantially reduces potential induced degradation (PID) by eliminating the negative voltage between the module's frame and cells. The Wdj series is also rated for 1,500V systems and can significantly reduce balance of system costs (BOS) by decreasing the number of inverters necessary in the solar installation.

Two of Suntech Power Holdings Co. Ltd. investors are suing the Chinese company for USD 550,000 (EUR 413,500) due on senior notes plus interest, court expenses and other costs. In March, the solar cell maker failed to repay USD 541 million of notes due March 15.

Suntech Power Holdings Co. Ltd. will supply panels to the first solar energy field, which is under construction at Sde Boker. Suntech will also supply panels to another solar energy field, which is under construction at Kibbutz Hatzerim. The solar panels in the two new projects will be supplied by Enerpoint Israel Ltd., a significant distributor of Suntech products in Israel.