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Suntech To Sell 50 MW To IBC Solar

July 3, 2012

Profits may be down but sales in the solar industry keep happening as China-based Suntech Power (STP :NYSE) is selling 50 megawatts (MW) of solar panels to German-based solar developer IBC Solar. The panels will be shipped during 2012.

Suntech and IBC have a previous business relationship as the former supplied 3.45 MW of panels for the New Fair Stuttgart in Germany and 5.75 MW for power plants in Osyan and Warora India.

While fellow China-based solar manufacturer Canadian Solar (CSIQ :NASDQ) has adopted First Solar’s (FSLR :NASDAQ) of acquiring and developing utility-scale solar projects, Suntech is focused on large panel deals. In May 2012, Suntech announced a deal with Krannich Solar to supply up to 120 MW of panels in 2012.

Shares of Suntech were up 3.15 percent in afternoon trading while shares of Canadian Solar enjoyed a 4.15 percent increase and First Solar shares were up a more modest 2.49 percent.

While fellow China-based solar manufacturer Canadian Solar (CSIQ :NASDQ) has adopted First Solar’s (FSLR :NASDAQ) of acquiring and developing utility-scale solar projects, Suntech is focused on large panel deals. In May 2012, Suntech announced a deal with Krannich Solar to supply up to 120 MW of panels in 2012.

Shares of Suntech were up 3.15 percent in afternoon trading while shares of Canadian Solar enjoyed a 4.15 percent increase and First Solar shares were up a more modest 2.49 percent.

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