SunTech has been quite the news-maker these days. The Chinese solar-panel maker recently announced plans to open its first U.S.-based plant in the Phoenix area. The new facility is expected to employ over 75 full-time employees and, depending on how the U.S. solar market performs, may double the number on payroll within a year.
In recent months, the company has been criticized for pricing panels in the U.S. below marginal cost, allegedly dumping imported product in the U.S. market. Moreover, like other foreign producers, SunTech’s panels would be affected by a proposed import tariff hike, which was announced at the beginning of October. Add in growing concern over American jobs, and it’s no wonder why SunTech is moving some of its manufacturing operations to the U.S. That the company was considering a U.S.-based facility had been known for some time; what wasn’t known until the announcement was the location. As relayed by The Street:
“This is the first step in what I see as a long-term, strategic investment in the North American market,” said Suntech’s Chairman and CEO Dr. Zhengrong Shi. “Over the last two years we have grown our U.S. team to over 60 employees. As a result of that effort, we have developed a network of over 200 solar dealers and integrators installing Suntech products and are actively involved with a number of large-scale solar project developers serving the utility market. We also have developed strong partnerships with U.S. companies such as MEMC of Pasadena, Texas, our largest supplier of silicon wafers used in our modules. The leadership shown by the U.S. government in advancing renewable energy will only improve the environment for further investments in the coming years.”
Meanwhile, back home, SunTech announced that it expects to develop 20 percent of the 91 megawatts of solar projects that have been mandated under China’s solar rooftop program. SunTech (STP) ADR stock was up nearly 13 percent in late afternoon trading.














