Editorial Summary

Suntech Power Holdings Co., Ltd. (NYSE: STP) has entered into an agreement with polysilicon producer Nitol Solar to acquire a minority stake in Nitol Solar for a total consideration of up to US$100 million. The investment will help Nitol develop its Siberian polysilicon plant, scheduled for completion in 2009 with target production capacity of 3,700 metric tons.

Nitol's existing supply contracts, through 2015, are valued at US$1.5 billion in aggregate. Last August, Suntech signed with Nitol for polysilicon to be supplied monthly from 2009 to 2015.