Saturday, September 6, 2008

China`s Suntech to invest US$300 mln in solar energy in Indonesia

Jakarta (ANTARA News/Asia Pulse) - Chinese energy company Suntech Power Holding Co. Ltd said it had set aside US$300 million for solar energy development in Indonesia.

The funds would be used to set up a number of marketing offices and assembly plants and to establish distribution networks, Suntech vice president Ting Lei told the newspaper Investor Daily.

Suntech hopes to bring to reality the plan through phases starting next year, using photovoltaic cell technology to convert solar energy into electric energy, Lei said. Solpower Group Pte Ltd, the distributor for Suntech products in this region, said Suntech would generate electricity in areas not yet covered by state-owned electricity company PLN.

Source:Business in Asia Today - Sept. 4, 2008

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