Page 6 - SunTalk December 2020

MEDIA COMMENTS

SNEC2020 CEO Series :

Suntech bounces back

Once an industrial solar giant, Suntech has
worked hard to rebuild its foundations and regain
a solid footing in the global PV industry, following
its financial crash in 2013. pv magazinecaught up
with CEO Tang Jun at this year’s SNEC 2020, held
in Shanghai, China, last month, to find out its
plans for the future, and how the Covid-19
pandemic has affected operations. Strong global
growth and continued multi-crystalline production
are two cornerstones of the business.

pv magazine: What new products and solutions did Suntech
present at this year’s SNEC?
Tang Jun: Suntech launched its new generation of ultra-high power PV modules, named “Ultra”. This new series
Sound financial performance and over 10GW of includes a variety of modules with large-size wafers, including 166, 182 and 210 mm, while the maximum power
exceeds 600W, at 605W. We have also introduced casting mono and heterojunction (HJT) module products. The
conversion rate of our HJT products can reach 21.5%, and the efficiency of our high-power modules can reach
new capacity planning 21.3%.

What’s Suntech’s geographical reach?
Suntech has always focused on overseas markets and we are currently selling modules in more than
As one of the "founding fathers" of the PV industry, Suntech has, based on its accumulated experience, established a sound network for global sales and
after-sales service. 100 countries worldwide. Our brand is well-known in our most significant markets, which include the
European Union, Japan, India and Australia.
The company is known to have more than 1,500 premium customers and loyal distributors in all major markets around the world, many of whom have worked with
Suntech from their earliest years and have grown up with it as a valued partner. In terms of market share, 80% of our products were exported in 2019. However, we have now passed
the watching period and entered the whitelist of mainstream investors, which has seen our domestic
Reliable products, renowned brands and loyal customers have underpinned Suntech’s success in international markets for many years. Equally, the company’s market share increase significantly. We have also begun to participate in bidding processes for large
solid financial performance and low debt ratio is another combination of factors behind its renaissance. domestic projects.
The company’s recent outstanding performance has been recognized
by international third-party organisations. The respected credit
management company D&B Group rated Suntech as ‘5A’ in financial Suntech’s steady growth over the past few years enabled its revenue to reach US$1.115 billion in How important is the US market to Suntech?
strength, pointing to sound operation indicators, top business credit and 2019, with debt ratio controlled effectively below the level of 50% (see Figure 2). The current U.S. policy has had a great impact on our business there, meaning we have had a hard time. Saying that, we are going to set up a new
strong financial performance. branch in the United States and try some new ideas to participate in this important PV market.
Capacity expansion is imperative with the steady increase in
shipments, Suntech’s PV module capacity currently standing at
4.5GW.
The company’s new 1.5GW high-efficiency module plant in Wuxi was Last year, Suntech entered the Kazakhstan solar market. What advice do you have for companies looking to enter such
commissioned on Aug 1st, to be followed by more production bases in emerging markets?
Changzhou, Zhenjiang and Yangzhou. It is estimated that future total
capacity will exceed 10GW. When entering emerging markets, we have found that some companies are eager for quick success and easy money, thus focusing on immediate
benefits. I want to call on industry participants to fully respect local market rules and characteristics when entering new markets, and to protect the
After a number of challenging years, Suntech remains a top PV healthy development of the market through cooperation and healthy competition.
company, gaining fresh momentum by virtue of its rapid development in
overseas markets, growing brand awareness, technology strength and
local government support, all of which have combined to propel it back
towards its historical leading position within the industry.

05 06