Wednesday, September 5, 2012

UPDATE 1-Suntech to Sell 50 MW Solar Panels to IBC Solar

China-based Suntech Power Holdings Co Ltd said it agreed to supply 50 megawatts (MW) of solar panels to photovoltaic systems maker IBC Solar in 2012.

The companies, which have been partners since 2004, have worked together on several rooftop installations, including the New Fair Stuttgart in Germany, and power plants in India.

Global demand for solar panels grew by about 40 percent last year and the U.S. solar industry installed a record number of panels in 2011, more than double that of 2010, according to a report released by GTM Research and the Solar Energy Industries Association.

Shares of Suntech Power closed at $1.91 on Monday on the New York Stock Exchange.


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