Suntech gears up for US return


Following a difficult 2013 that culminated in the company's acquisition by Shunfeng, Chinese clean energy supplier Wuxi Suntech Power Co., Ltd began 2014 shakily but has now set its sights on a return to the lucrative U.S. solar market following a successful reshuffle.

Suntech's new ownership is, according to CEO Eric Luo, pursuing a new business strategy aimed at reclaiming its seat at the top table of global, fully integrated solar suppliers. The company intends to fully integrate its manufacturing objectives as well as its ownership of clean energy producing assets, aiming for a one-stop shop delivering services in solar design, engineering, manufacturing, construction, finance, insurance, operation and maintenance, energy storage, solar products, and applications.

To achieve this goal, said Luo, Suntech must once again turn to the U.S. market. "Intersolar North America is the perfect venue to let our U.S. customers know that Suntech is here and we are stronger than ever," said the CEO. “Our recent acquisition by Shunfeng has given us the strongest financial footing in the solar industry, with nearly zero debt.

"The U.S. solar market is strong with plenty of room for growth; 74% of all new energy generation in the U.S. in the first quarter of 2014 came from solar energy," continued Luo. "Additionally, the U.S. Environmental Protection Agency's ambitious Clean Power Plan will affect all methods of financing around solar projects, providing a great opportunity to allow more solar work in the U.S. marketplace."

Suntech will use the platform of Intersolar North America to seek out further expansions of its sales, marketing and services team in the U.S., as well as exploring further acquisitions.

Earlier in 2014 Luo was instrumental in Suntech's purchase of German inverter company Sunways – an announcement that was swiftly followed by the news that the company intends to enter the growing U.K. market in a big way: its partnership with German EPC Greenfield Solar International is targeting the development of 900 MW of PV projects in the country by the end of 2015.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.