Friday, November 13, 2009

Suntech to develop 20 pct of China's solar rooftop plan (STP)

Suntech and Trina (TSL) appear to be the companies most favored by the Chinese government.
STP is up a couple percent this morning in early trading.
From Reuters:

* Says completed 4 MW of approved projects

* Says to complete the remaining by mid-2010

Nov 13 (Reuters) - Chinese Solar panel maker Suntech Power Holdings Co Ltd (STP.N) said it expects to develop about 20 percent of the 91 megawatts of solar projects under China's solar rooftop program.

The solar rooftop program was launched in March to increase the efficiency of buildings through photovoltaic (PV) solar systems.

Suntech said 111 solar projects totalling 91 megawatts (MW) across China were approved to receive funds through the program.

The Chinese government had said solar projects larger than 50 kilowatts of output will be eligible for a subsidy of about $2.90 per watt....MORE