Suntech

completed

Suntech, headquartered in Wuxi City, Jiangsu Province, is a Chinese global leader in PV cells and modules with total capacity of 1GW as of January, 2009. It designs, manufactures, and markets various PV cells and modules to provide electric power for residential, commercial, industrial, and public utility applications worldwide.The Company was founded in 2001 to manufacture PV cells and is currently listed on the New York Stock Exchange. The company has five main production sites in Wuxi (Jiangsu Province), Luoyang (Hunan Province), Xining (Qinghai Province), Yangzhou (Jiangsu) and Shanghai, as well as overseas offices, totaling around 9,000 employees globally. Construction of the Shanghai thin-film manufacturing facility, the company’s first such facility, is nearing completion. The Wuxi headquarter facility has the biggest productive capacity.Suntech approached IFC to provide a Convertible Loan of up to $100 million at the corporate level, to support Suntech’s capital expenditure plans and debt refinancing requirements.