Suntech And Krannich Solar Are Working Together, Again
In an announcement that will probably surprise very few people, the longtime seller/buyer relationship between Suntech Power (STP :NYSE) and Krannich Solar will continue as the former will be supplying up to 120 megawatts of solar panels to the latter in 2012.
Suntech and Krannich solar have been business partners since 2007. The panels in this deal will be supplied to installers and resellers in Europe and Australia.
Investors may only be luke-warm to this deal despite Suntech’s claims that Krannich Solar is currently one of the top-five photovoltaic systems providers in Europe. Overall, solar installations in Italy and France have slowed due to reductions in feed-in tariffs.
Whether or not Suntech actually sells the maximum 120 MW of the deal will weigh heavily on investors.
Shares of Suntech were down 3.4 percent in afternoon trading.