Suntech Power Holdings Co. Ltd. (NYSE:STP - News) launched two new high-performance solar panels, HiPerforma 245 watt module and Suntech 290W Vd Series module. These products are immediately available for purchase in the United States, Canada and Latin America.
Suntech's new 245 watt HiPerforma multicrystalline module uses the company’s advanced Pluto cell processing technology that reduces shading on the cell surface and allows cells to absorb more sunlight to generate additional electricity. The new 60-cell HiPerforma 245W multicrystalline module is expected to generate 2%–5% more power per watt peak (kWh/kWp) over time.
The advanced Pluto cell processing technology gives performance advantages to all types of silicon substrates allowing Suntech to produce high-performance solar cells and modules with different types of multicrystalline and monocrystalline wafers. Given the advantages derived from the Pluto cell processing technology, the company is rapidly scaling up production capacity with a target to generate 450 Megawatt (NYSE:MW - News) of electricity as it enters 2012 at 100% capacity.
The second product, the new Suntech 290W Vd Series module, utilizes Suntech's SuperPoly processing technology that produces higher-quality multicrystalline wafers. The improved wafer enables higher power output and strong resistance to light-induced degradation.
The new 60-cell HiPerforma 245W multicrystalline module as well as the novel 72-cell multicrystalline product will provide its customers a 25-year power output warranty, with 0/+5% positive power tolerance. Above International Electro technical Commission’s standard requirements, they are capable of withstanding all weather conditions, including wind load of approximately 270 km/h and snow loads of approximately 55 kg/m2.
Both the products deliver higher power outputs and provide lower cost of solar electricity for Suntech customers. Additionally, these advanced solar technologies will help the company to achieve their target to cut down the cost of solar electricity generation.
Suntech Power Holdings Co. Ltd. is one of the largest producers of crystalline solar cells and modules, serving a geographically diversified customer base. Positive factors include ongoing expansion programs, higher conversion efficiency through its Pluto technology-enabled modules, China’s subsidy program and improving operating efficiencies.
However, the positives are overshadowed by fears of tepid module demand in Europe, rising competition, the volatile euro and the financial stability of its customers. The company presently retains a short-term Zacks #3 Rank (Hold). We have a long-term Outperform recommendation on the stock.
Based in Wuxi, China, Suntech Power Holdings is a solar energy company that designs, develops, manufactures and markets a variety of photovoltaic cells and modules. The company also provides photovoltaic system integration services in China and U.S., and is expanding into the development of utility scale solar power systems. Suntech sells its products worldwide. In fiscal 2008, the company commenced the production of photovoltaic cells utilizing its Pluto technology. The company mainly competes with Sharp Corporation (Other OTC:SHCAY.PK - News) and First Solar Inc. (NasdaqGS:FSLR - News).
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