Suntech, 3rd Rock To Develop 7.2 MW Of Solar Projects

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Suntech Power Holdings Co. Ltd. and San Francisco-based 3rd Rock Systems and Technologies Inc. have established a strategic alliance in connection with the development of an initial 7.2 MW of solar systems in the U.S.

3rd Rock will act as project developer and leverage existing relationships to raise project financing. For projects developed under the alliance, Suntech will be the preferred supplier of solar modules and provide engineering, procurement and construction services through its wholly owned subsidiary, Suntech Energy Solutions.

‘This alliance creates an excellent opportunity to leverage 3rd Rock's expertise in monetizing a broad variety of tax credits, loans and other incentives, which are particularly appealing to schools and other nonprofit organizations, with Suntech's engineering expertise and access to solar panels,’ says Steven Chan, Suntech's chief strategy officer and president of global sales and marketing.

SOURCES: Suntech Power Holdings Co. Ltd., 3rd Rock Systems

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