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Published on August 31st, 2014 | by James Ayre

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Suntech Targeting Brazilian, Mexican, & Chilean Solar Markets

August 31st, 2014 by  

Once the leading solar panel company in the world (before some scandal and bankruptcy), Suntech has regrouped and is now setting its sights on the potentially very lucrative solar markets of Brazil, Chile, and Mexico, according to recent reports.

Considering the rapid growth in solar energy development in Chile over the past few years, Suntech’s interest in that country is hardly surprising — there’s enormous potential there, and a government seeming interested in helping said development along. The interest in the Brazilian and Mexican markets is perhaps slightly less straightforward than with the Chilean one, but, nonetheless, the positives are obvious — great levels of solar insolation, relatively undeveloped (uncrowded) markets, and increasingly supportive policies.

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“Chile, most notably, has grown into Latin America’s leading solar market with 400 MW of PV generation under construction,” stated Eric Luo, the CEO of Suntech. “But we see similar potential in Brazil, which is the largest electricity market in Latin America, yet derives only 1% of its electricity from solar power. We believe governments in all of these countries are moving to incentivize the growth of solar, and the demand for high-quality, durable PV modules will grow.”

Seems a fair guess. With the looming issues of fossil fuel depletion and global warming, it’s not a stretch to imagine that countries such as Chile and Brazil will start to invest more into solar energy.

“Suntech has already supplied 30 MW of modules for projects in Mexico in 2013 and we believe that attending Intersolar South America will give potential customers from across Latin America the opportunity to learn more about our new business strategy,” stated Robert Ho, sales director for North, Central, and South America. 
 
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About the Author

's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy. You can follow his work on Google+.



  • JamesWimberley

    Suntech’s bankruptcy and restructuring is still a href=”http://ir.suntech-power.com/phoenix.zhtml?c=192654&p=irol-newsArticle&”>going through the courts (link). Its creditors have clearly decided that it’s worth more as a going concern in a booming market than broken up. Still, if you buy panels from Suntech, make sure the warranty is insured.

    • Brian Donovan

      That seems to only be the EU group.

      Your warranty point is worth repeating, and we need some sort of reliable insurers of last resort.

      Oh that sounds familiar, doesn’t it?

      Nuclear power has taxpayers as the insurer of last resort.

      Solar panels and wind should get that, and nuclear should not.

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