MANILA, Philippines, June 6, 2012 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, and Propmech Corporation, a leading engineering, procurement and construction company in the Philippines, have completed a 571 kilowatt rooftop solar installation on the Asian Development Bank's (ADB) headquarters in Manila, Philippines. Equipped with high-quality solar modules from Suntech, and installed and integrated by Propmech, the new solar system will generate more than 600 megawatt hours of solar electricity and offset 307 tons of carbon dioxide per year, making it the largest rooftop solar installation in the Philippines. The inauguration ceremony occurred on June 5, 2012, World Environment Day.
"We are excited to partner with Propmech and to inaugurate ADB's rooftop solar installation. This solar installation demonstrates that with innovative solar products and collaboration among bankable partners, solar can provide a cost-effective solution for electricity generation across Southeast Asia," commented Dr. Zhengrong Shi, Founder, Chairman and CEO of Suntech. "This solar installation is an important investment for our company. The investment is the most concrete expression of our belief and commitment to the viability of solar PV technology. We chose to partner with Suntech not just because of its high quality products, backed by a 25 year warranty, but more importantly because we share Dr. Shi's vision of providing the Filipino people with reliable access to nature's cleanest and most abundant energy source," remarked Mrs. Helen Tong, Managing Director of Propmech Corporation.
Considering that Philippines has some of the highest retail electricity tariffs in Asia at approximately $0.18/kWh, solar technology is providing cost-effective energy solutions for customers throughout the country.(1)
Suntech is a first-mover in driving solar energy adoption in Southeast Asia, and works with local partners to deliver high-quality and cost-effective solar electricity solutions. With one of the largest distribution networks in Southeast Asia, Suntech provides customized solar products for a wide range of solar applications.
(1) Solarbuzz® Q2 2012 PV Market Quarterly Asia Pacific – April 2012 Report
Propmech Corporation is the flagship company of a 64-year-old business conglomerate. It engaged in the renewable energy business in 2008 when in partnered with Suntech to develop the Solar PV industry of the Philippines. Propmech is the largest participating company of the Philippine Department of Energy and the World Bank in the country's Rural Power Program. To date, Propmech has installed over 104,000 Solar PV systems in over 500 locations throughout the Philippines.