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Friday, February 27, 2009

AES Meets Full Year 2008 Guidance For Consolidated Operating Cash Flow of $2.2 Billion And Free Cash Flow Of $1.4 Billion

AES Meets Full Year 2008 Guidance For Consolidated Operating Cash Flow of $2.2 Billion And Free Cash Flow Of $1.4 Billion


Improved Parent Company Liquidity to $1.4 billion in Fourth Quarter, up 21 percent from prior quarter Full Year Earnings Per Share from Continuing Operations up 150% to $1.80, including $905 million or $1.31 gain from sale of northern Kazakhstan assets Full Year Adjusted Earnings Per Share of $0.99, including $0.19 of foreign currency transaction losses, compared to $1.01 in prior year Issues 2009 Guidance

ARLINGTON, Va Feb 27 2009 -The AES Corporation (NYSE: AES) today reported solid results for 2008 with a 19 percent increase in revenue and nine percent growth in gross margin. This strong performance resulted from improved operations in Latin America and Europe, reductions in operating costs across its global portfolio of generation and distribution businesses, as well as lower overhead costs.

“We achieved our full year cash flow expectations in a challenging environment,” said Paul Hanrahan, President and Chief Executive Officer. “In response to market conditions, we also took immediate steps to preserve liquidity by limiting our spending on new business development to a few select projects that could be financed in today’s markets. At the same time we improved the operations of our global business by focusing on increasing our revenues and cutting costs. We will continue to benefit from these actions throughout 2009.”

“We have been pleased with the results of this approach. In the fourth quarter, our parent company liquidity grew by $245 million to $1.4 billion. We also raised $1.4 billion of long-term non-recourse debt financing for 700 MW of thermal, wind and solar projects. These financings demonstrate the quality of our development projects.”

Results for the quarter and year-to-date ended December 31, 2008 include the following:

Fourth Quarter 2008 Full Year 2008 Full Year 2007 Revenue $3.5 billion $16.1 billion $13.5 billion Gross Margin $0.7 billion $3.7 billion $3.4 billion Diluted (Loss)/Earnings Per Share from Continuing Operations $(0.10) $1.80 $0.72 Diluted (Loss)/Earnings Per Share $(0.07) $1.82 $(0.14) Adjusted Earnings Per Share (a non-GAAP financial measure) $0.18 $0.99 $1.01 Consolidated Operating Cash Flow $0.6 billion $2.2 billion $2.4 billion Consolidated Free Cash Flow (a non-GAAP financial measure) $0.3 billion $1.4 billion $1.5 billion Subsidiary Distributions to Parent $ 0.4 billion $1.1 billion $1.1 billion

“We are benefiting from our decisions to act early in the credit crisis by refinancing $2 billion of recourse debt since the fourth quarter of 2007 and by improving covenant terms in our recourse debt agreements,” said Victoria D. Harker, Executive Vice President and Chief Financial Officer. “As a result, our parent company liquidity is nine times our 2009 recourse debt maturities, and we have improved our financial flexibility going forward.”

“To help provide additional transparency, we are expanding our disclosure to include proportional metrics. As such, our 2009 guidance reflects proportional gross margin in the range of $2.05 billion to $2.15 billion, and proportional free cash flow in the range of $650 million to $850 million.”

Full Year 2008 Financial Highlights (comparison of 2008 vs. 2007):

Consolidated Revenues up 19% to $16.1 billion, primarily due to higher prices at our generation businesses across all regions and increased volume in Latin America, as well as favorable currency translation and recovery of pass-through expenses Consolidated Gross Margin up 9% to $3.7 billion, primarily due to improved performance at our generation businesses in Latin America and Europe, as well as favorable foreign currency translation Diluted Earnings Per Share from Continuing Operations up 150% to $1.80, including a $1.31 gain from sale of northern Kazakhstan businesses in May 2008; the 2008 result also includes $0.22 of foreign currency transaction losses, $0.03 of which is excluded from Adjusted Earnings Per Share (a non-GAAP financial measure, see Appendix for reconciliation) Net Income increased to $1.2 billion, or $1.82 per diluted share, from a Net Loss of $95 million or ($0.14) per share in 2007; the 2007 result reflects a loss on the sale of a Venezuelan subsidiary, C.A. La Electricidad de Caracas (EDC), which resulted in a non-cash, after-tax charge of $680 million (or $1.00 per diluted share) Adjusted Earnings Per Share (a non-GAAP financial measure, see Appendix for reconciliation) of $0.99, including, as noted above, $0.19 ($0.14 non-cash) of foreign currency transaction losses primarily in Chile and the Philippines Consolidated Operating Cash Flow of $2.2 billion, as compared to $2.4 billion in 2007. Period over period results were flat after excluding $151 million contribution from EDC, a business sold in May 2007 Consolidated Free Cash Flow (a non-GAAP financial measure, see Appendix for reconciliation) of $1.4 billion, as compared to $1.5 billion in 2007. Period over period results remained flat after excluding $107 million contribution from EDC, a business sold in May 2007 Fourth Quarter 2008 Financial Highlights (comparisons of Q4 2008 vs. Q4 2007):

Consolidated Revenues decreased $112 million or 3% to $3.5 billion, primarily due to approximately $473 million of unfavorable foreign currency translation largely offset by improved operations across all regions Consolidated Gross Margin decreased $135 million or 17% to $674 million, impacted by $91 million of foreign currency translation losses and $81 million of mark-to-market FAS 133 derivative losses and non-cash lease accounting adjustments at our businesses in Asia Net Loss from Continuing Operations of $65 million or $0.10 per share as compared to Net Income from Continuing Operations of $3 million or $0.00 per diluted share in fourth quarter 2007, including $0.13 of non-cash market-to-market FAS 133 derivative losses and $0.11 of foreign currency transaction losses, of which $0.03 is excluded from Adjusted Earnings Per Share (a non-GAAP financial measure) Net Loss of $47 million or $0.07 per share, including $18 million of income primarily associated with Jiaozuo, a discontinued business sold in December 2008, as compared to Net Income of $8 million or $0.01 per diluted share in fourth quarter 2007 Adjusted Earnings Per Share (a non-GAAP financial measure, see Appendix for reconciliation) of $0.18, including, as noted above, $0.08 ($0.03 non-cash) of foreign currency transaction losses primarily associated with our business in Chile Consolidated Operating Cash Flow up 20% to $579 million, primarily driven by improved working capital management Consolidated Free Cash Flow (non-GAAP financial measure, see Appendix for reconciliation) up 11% to $314 million, reflecting the increase in Operating Cash Flow Key 2008 Highlights:

Sold northern Kazakhstan businesses for total consideration of up to approximately $1.48 billion, resulting in a total gain of $905 million Acquired businesses with total electric generation capacity of 727 MW, including a coal-fired plant in the Philippines and a wind project in the US Formed AES Solar Energy, a joint venture with Riverstone Holdings LLC, to help fund up to $1 billion of equity in solar energy projects over time Expanded portfolio of renewable energy facilities in operation by completing construction of more than 265 MW of new wind and solar projects Raised $625 million of senior unsecured notes and paid down $985 million of corporate debt, reducing total recourse debt by $360 million and extending average maturity by more than a year Amended certain restrictive covenants in senior secured credit agreement and second lien bond indentures to increase financial flexibility Completed remediation of final two material weaknesses Raised more than $2 billion of long-term non-recourse debt on reasonable terms to fund acquisition and construction of more than 1,300 MW Started construction on nine projects totaling 1,339 MW, including 788 MW of coal-fired plants, 361 MW of wind generation, 166 MW of oil, and 24 MW of solar photovoltaic projects 2009 Financial Guidance:

For 2009, the Company updated the following guidance:

Consolidated Operating Cash Flow at a range of $2.1 billion to $2.3 billion Consolidated Free Cash Flow (a non-GAAP financial measure, see Appendix for reconciliation) at a range of $1.4 billion to $1.6 billion Subsidiary Distributions (see Appendix for definition) of $1.1 billion to $1.3 billion reaffirmed Diluted Earnings Per Share from Continuing Operations of $0.87 to $0.97 Adjusted Earnings Per Share (a non-GAAP financial measure, see Appendix for reconciliation), in the range of $0.97 to $1.07 (previously $1.15 to $1.20), primarily reflecting changes in assumptions about foreign currency exchange rates and commodity prices The updated 2009 Guidance is based on expectations for future foreign exchange rates and commodity prices as of December 31, 2008. Since the beginning of the year through February 24, 2009, the Company estimates that movements in foreign exchange rates and commodity prices have had an unfavorable impact of roughly $0.07 on Earnings Per Share guidance.

See appendix for more details.

Non-GAAP Financial Measures

See Non-GAAP Financial Measures for definitions of Adjusted Earnings Per Share, Proportional Gross Margin, Proportional Operating Cash Flow, Free Cash Flow, Proportional Free Cash Flow and Parent Company Liquidity, as well as reconciliations to the most comparable GAAP financial measure.

Attachments

Consolidated Statements of Operations, Segment Information, Consolidated Balance Sheets, Consolidated Statements of Cash Flows, Non-GAAP Financial Measures, Parent Financial Information, 2009 Financial Guidance.

Conference Call Information

AES will host a conference call on Friday, February 27, 2009 at 10:00 a.m. Eastern Standard Time (EST). Interested parties may listen to the teleconference by dialing 1-866-229-5768 at least ten minutes before the start of the call. International callers should dial +1-973-200-3007. The reservation number for this call is 88006262. Internet access to the conference call and presentation materials will be available on the AES website at www.aes.com by selecting “Investor Information.”

A telephonic replay of the call will be available from approximately 1:00 p.m. EST on Friday, February 27, 2009 through Friday, March 20, 2009. Callers in the U.S. please dial 1-800-642-1687. International callers should dial +1-706-645-9291. The system will ask for a reservation number; please enter 88006262 followed by the pound key (#). A webcast replay, as well as a replay in downloadable MP3 format, will be accessible at www.aes.com beginning shortly after the completion of the call.

About AES

The AES Corporation (NYSE: AES) is a global power company with generation and distribution businesses. Through our diverse portfolio of thermal and renewable fuel sources, we provide affordable and sustainable energy in 29 countries. Our workforce of 25,000 people is committed to operational excellence and meeting the world's changing power needs. Our 2008 revenues were $16 billion and we own and manage more than $35 billion in total assets. To learn more, please visit www.aes.com.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’s current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as achievements of planned productivity improvements and incremental growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES’s filings with the Securities and Exchange Commission, including, but not limited to, the risks discussed under Item 1A “Risk Factors” in AES’s 2008 Annual Report on Form 10-K. Readers are encouraged to read AES’s filings to learn more about the risk factors associated with AES’s business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. * full news and financial tables visit www.aes.com





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Wednesday, February 25, 2009

Renewable Energy Stocks Sector Close-Up; Investors can expect very erratic movements in solar stocks until market volatility back to normal range

Renewable Energy Stocks Sector Close-Up; Investors can expect very erratic movements in solar stocks until overall market volatility goes back to the “normal” range

POINT ROBERTS, WA —February 25, 2009 - www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on renewable energy stocks trading as of February 24, 2009. Several of the green leaders had increases in excess of 10% on the day and then gave back some of the gains in after hours trading.

First Solar, Inc. (NASDAQ: FSLR) released financial results for the fourth quarter and fiscal year ended, December 27, 2008. Quarterly revenues were $433.7 million, up from $348.7 million in the third quarter of fiscal 2008 and up from $200.8 million in the fourth quarter of fiscal 2007. Revenues for the fiscal year ended December 27, 2008 were $1,246.3 million, up from $504.0 million in fiscal year 2007. The company also announced it reduced its manufacturing cost for solar modules in the fourth quarter to 98 cents per watt, breaking the $1 per watt price barrier. The shares were up over 10% during market hours and then pulled back over 12% in after hours trading, based on the short term outlook.

According to solar expert, J. Peter Lynch in his last column, “Investors can expect very erratic movements in solar stocks until the overall market volatility starts to get back to the normal range.”

He went on to say, “The next phase of development for the solar industry is the same phase that all new industries went through – autos, semiconductors, computers etc. – it is the consolidation and shake-out phase.

The industry WITHOUT question has a very bright future. However, as in all new industries the strong will survive and the weak will be acquired or go out of business. New technology will emerge and new leaders will distance themselves from the pack. This is NOTHING NEW and not unique in any way to the solar industry.”

Read Renewable and Solar Energy Perspectives with J. Peter Lynch http://www.renewableenergystocks.com/PL/

Renewable Energy Stocks Sector Close-Up as of Trading Close February 24, 2009:

Akeena Solar Inc. (NASDAQ:AKNS) closed up $0.17 (12.88%).
Archer-Daniels-Midland Co. (NYSE:ADM) had gains of $0.61 (2.23%).
Canadian Solar Inc. (NasdaqGM: CSIQ) increased $ 0.20 (5.17%).
China Technology Development (NASDAQ: CTDC) closed unchanged.
Clean Energy Fuels Corp. (NASDAQ:CLNE) closed up $0.34 (6.58%).
Energy Conversion Devices, Inc. (NasdaqNM: ENER) was up $ 2.52 (10.67%).
Evergreen Solar Inc (NASDAQ:ESLR) closed up $0.25 (21.01%).
First Solar, Inc. (NASDAQ: FSLR) had gains of $12.84 (10.29%), followed by a sell-off in after market hours based on company news and forecasts for short term solar markets.
GWS TECHNOLOGIES INC (OTCBB: GWSC) closed unchanged.
ICP Solar Technologies Inc. (OTCBB: ICPR) was unchanged with company news on preliminary Fourth Quarter Results.
Mantra Venture Group Ltd. (OTCBB: MVTG) closed at down $0.01 (5.00%).
SunPower Corporation (NasdaqGS: SPWRA) had gains of $3.19 (10.68%), but down in after hours trading.
Suntech Power Holdings Co. Ltd. (NYSE: STP) was up $0.79 (11.90%) and followed some of the solar stocks downtrend after hours.
Westport Innovations Inc. (WPT.TO) closed up $0.16 (3.22%).
Yingli Green Energy (NYSE: YGE) closed up $0.47 (12.60%).
XsunX Inc. (OTCBB: XSNXE) closed up 4%.

For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp

Featured Showcase Renewable Energy Stocks:

XsunX Inc.: (OTCBB: XSNX)
Recent News: XsunX Announces Sales Contract to Supply 4 Megawatts of its ASI-120 Thin Film Solar Modules
Based in Aliso Viejo, Calif., XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi- megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. More info on XsunX, Inc. can be found on our media profile at: http://www.investorideas.com/co/xsnx/default.asp or http://www.xsunx.com/

About Investorideas.com
Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates. We cover multiple industry sectors but specialize in environmental and water.

About Our Green Investor Portals:
www.RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences and a directory of stocks within the renewable energy sector.

Investor Ideas Members: Renewable Energy Stocks Directory & Water Stocks
Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Content including the complete renewable energy stocks directory . Learn more: http://www.investorideas.com/membership/

Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. Disclosure: www.InvestorIdeas.com/About/Disclaimer.asp
Compensation disclosure for XSNX, GWSC, MVTG:
http://www.investorideas.com/About/News/Clientspecifics.asp

For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com
Source: RenewableEnergyStocks.com, XsunX

Tuesday, February 24, 2009

ICP Solar Provides Preliminary Fourth Quarter Results

ICP Solar Provides Preliminary Fourth Quarter Results
Sales Exceed Expectations – Climb 45% Over Prior Year Period


MONTREAL, QUEBEC, CANADA – February 24, 2009 – ICP Solar Technologies Inc. (OTCBB: ICPR.OB, FRANKFURT: K1U.F), a developer, manufacturer and marketer of proprietary solar panels and products, today announced preliminary financial results for the fiscal fourth quarter ended January 31, 2009.

Revenue rose 45% over the fiscal fourth quarter of 2008, to approximately $950,000
Despite normal year end writedowns, the Company posted positive gross profit of approximately $76,000 in the fiscal fourth quarter versus a loss in the prior year period
SG&A was down approximately 53% in the fourth quarter ended January 31, 2009 versus the fourth quarter of fiscal 2008

“We are very satisfied with the Company’s progress made in the fourth quarter, particularly the effects our cost reduction program has had – ahead of schedule,” said Sass Peress, CEO. “ICP Solar has taken tremendous steps towards reducing its cash burn rate and achieving profitability, and we remain well positioned for solid top line growth in calendar 2009, as indicated by our much stronger fourth quarter sales despite a challenging economic environment.

“Our order book clearly indicates strong demand for our Sunsei® brand of solar chargers, and we are encouraged by the rollout of our Sunsei® GreenMeter™ systems across North America as well as in positive tests overseas. Our innovative solar products and solutions continue to offer practical advantages to the everyday consumer versus less-versatile, lower-performing alternatives. In addition, the stimulus packages now being enacted worldwide are expected to fuel further demand for metering alternative energy applications such as ours.”

The Company plans to release full audited fiscal year results on or before May 1st, 2009


About ICP Solar Technologies, Inc.
ICP Solar is a developer, manufacturer and marketer of solar panels, solar cell based products, solar monitoring software and solar power management solutions. Through the application of its own intellectual property and next-generation technologies, the Company aims to be the solar industry's innovation leader. For the past 20 years, ICP Solar has been a lead innovator in the consumer solar market and has now begun to apply that same innovation philosophy to the OEM, rooftop and power generation segment of the solar industry. ICP Solar's management has over 50 years of experience in the renewable energy sector. ICP Solar markets its products under its Sunsei® brand of solar products and is the North American licensee of the Coleman® brand in the solar charger category. ICP Solar is also helping the environment by offering these solar technologies and green solutions to the renewable energy sector. The company's headquarters are located in Montreal, Canada, with an R&D center in St. John’s Canada and additional locations in the USA, Ireland, France and the UK. Additional information may be found at www.icpsolar.com

ICP Solar Technologies Inc.Sass Peress, Chief Executive Officer514-270-5770

ICP Solar Investor Relations:
Chris Witty
cwitty@darrowir.com
646-438-9385


This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of ICP Solar Technologies Inc. to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in ICP Solar Technologies Inc.’s Annual Report for the fiscal year ended January 31,2008, as filed on EDGAR at www.sec.gov. The risk factors identified in ICP Solar Technologies Inc. Annual Report are not intended to represent a complete list of factors that could affect ICP Solar Technologies Inc. Accordingly, readers should not place undue reliance on forward-looking statements. ICP Solar Technologies Inc. does not assume any obligation to update the forward-looking information contained in this press release.





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How to Invest in the Green Technology Revolution

How to Invest in the Green Technology Revolution

Investors Tools to Become Educated in Solar, Wind and Green Stocks


POINT ROBERTS, WA and DELTA, BC –February 24, 2009 - www.RenewableEnergyStocks.com, a leading global investor and industry portal for the renewable energy sector within Investorideas.com, provides investors with tools and resources to participate and invest in the green technology revolution.

Investor Ideas has created a global directory of publicly traded green and renewable energy stocks in wind, solar, biofuel and other green sectors. Investor Ideas stock directories are one of several tools for independent investors to complete due diligence and research.

Renewableenergysstocks.com was one of the first online investor resources providing in-depth information on renewable energy and the public companies in the sector.
Renewable Energy Stock Directory:
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp

The directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM markets and other leading exchanges reflecting the global participation and growth in renewable energy and green stocks.

The RenewableEnergyStocks.com portal currently features a directory with info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Green Transportation, Wind Stocks and Green Infrastructure Stocks.

Green Investor Content:

Green IPO Watch: http://www.investorideas.com/IPO/green.asp
Solar Energy Perspectives with J. Peter Lynch: http://www.investorideas.com/RSS/feeds/PL.xml
Renewable Energy and GreenTech Business and Stock News RSS Feed: http://www.investorideas.com/RSS/feeds/RES.xml


Investorideas.com Green Investor Audio and Article Series
http://www.investorideas.com/gi/
InvestorIdeas.com has created a Green Investor Series of Podcasts & articles on green and renewable energy investing for Investing in a Better World! Follow well- known financial columnist Michael Brush, who also writes the Insiders Corner for Investorideas.com, in a series of audio interviews/Podcasts with some of the leading CEO's, investment banking and financial leaders in the sector. The Green Investor Podcasts can also be heard on Money Matters with Barry Armstrong, #1 Personal Finance Radio Show in Boston! www.WBNW1120.com.
Also Read energy writer Paulo Nery's new Green Investor column and gain insight into the sector.

For entrepreneurs, investors and funds, The Global Green Marketplace is a meeting place and network for green and renewable energy companies seeking funding /partners, management and investors providing venture capital and equity funding . View Marketplace: http://www.investorideas.com/marketplace/


About Our Green Investor Portals:
www.RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, and a directory of stocks within the renewable energy sector.
Visit the Investorideas.com Green Investor Portals: www.RenewableEnergyStocks.com ®, www.FuelCellCarNews.com ®, www.EnvironmentStocks.com, www.Water-Stocks.com and www.GreentechInvestor.com all within the Investorideas.com hub.

About InvestorIdeas.com:
Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates! We cover multiple industry sectors but specialize in environmental and water.

Investorideas.com Membership- Green Stocks Directory
With markets and investor sentiment changing daily- it is more important than ever to stay on top of key trends! Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Content including the complete renewable energy stocks directory, water stocks directory, biotech and more.
Learn more: - click here http://www.investorideas.com/membership/

Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. Disclosure: Investorideas is compensated by featured companies, news submissions and online advertising. www.InvestorIdeas.com/About/Disclaimer.asp

For more information contact:

Dawn Van Zant 800.665.0411
Email: dvanzant@investorideas.com
Source: RenewableEnergyStocks.com

Monday, February 23, 2009

Clean Energy Infrastructure & Reducing Dependence on Oil Key to Economic Growth and Recovery

Clean Energy Infrastructure & Reducing Dependence on Oil Key to Economic Growth and Recovery Leaders Conclude

"National Clean Energy Project: Building the New Economy" Forum Proposes Principles for Energy Policy in the U.S.; Builds Momentum towards Clean Energy Legislation


WASHINGTON--Feb 23 2009 --Major leaders from government, business, labor and non-governmental organizations agreed today on four key recommendations to reform U.S. energy policy. These principles would boost new renewable energy production, transmission and distribution and reduce the nation's dependence on foreign oil. These leaders included Senate Majority Leader Harry Reid, Speaker of the House Nancy Pelosi, Secretary of Energy Steven Chu, Secretary of the Interior Ken Salazar, energy executive T. Boone Pickens, Center for American Progress Action Fund President John Podesta, and Vice President Al Gore among others.

The key principles include:
A national clean energy infrastructure is essential to drive economic recovery, create good jobs, increase national security, reduce oil use, and protect the global environment. A regional planning process can speed the siting and construction of new transmission lines that can deliver solar, wind, and geothermal electricity to meet growing demand for energy to power growth. “Smart grid” technology and distributed generation of renewable energy can increase the transmission efficiency, and provide new information and tools to consumers to reduce their energy use, save money on energy bills, and cut global warming pollution. Investments in new infrastructure to support clean domestic alternative transportation fuels, such as natural gas and advanced bio fuels, will cut America’s dependence on oil and reduce global warming pollution. Forum participants offered the following comments after the discussion in the National Clean Energy Project:
“Developing clean renewable energy is a matter of economic and national security, making the discussion we had today important for Nevada and the nation,” said Reid, who served as the event’s Honorary Chair. “Many of the stakeholders who play a key role in this movement were in the room today including elected officials, cabinet members, and leaders in industry, labor and the environment. I look forward to our continued partnership to change our nation’s energy policy in a way that creates jobs, protects consumers and the environment and provides reliable power that meets our growing needs.”

“President Obama put us on the right path with a recovery package that creates jobs through clean energy investments. The plan has unprecedented resources for efficiency, solar and wind power, clean domestic alternative transportation fuels, and a 21st century electricity grid infrastructure. Mapping the next steps to wire the U.S. for progress is what this day was all about,” said John Podesta, President of the Center for American Progress Action Fund. “Broad support for transmission and other infrastructure policies will enable businesses and government to make investments that create good jobs, boost economic growth, reduce energy use, and protect the Earth.”

“If we are serious about reducing our foreign oil dependency, we have to use clean domestic alternative transportation fuels such as natural gas and invest to transform power generation, distribution and transmission of renewable energy and focus on efficiency. These have to be the cornerstones of a new national energy policy,” said Mr. Pickens. “The National Clean Energy Project is a historic gathering of a group of leaders from across government, business, labor and the policy community and we are united in a commitment to developing a new national energy policy and to getting this job done. Now is the time to act on the momentum generated today and move forward with energy legislation that will reduce our dependence on foreign oil, create economic growth and make our nation safer.”
“The time has come to rethink and remake our energy future. That means building a new electric transmission system that is capable of bringing the power of renewable energy resources to American consumers, from the solar power of our southwestern deserts to the winds of the high plains to the geothermal resources of the Rocky Mountains and the Pacific northwest,” said Interior Secretary Salazar. “Today's gathering will help us assemble some of the best ideas for bringing our electric grid into the 21st century and for building the clean energy economy that we need.”

“It's clear from today's meeting that there is a growing consensus about the need to transform the way we use and produce energy," Energy Secretary Chu said. "Starting with the investments in the President's Recovery plan, and building on many of the good ideas discussed today, we can create millions of new jobs, free ourselves from the grip of foreign oil, and address the global climate crisis.”

The participants in events during the day included:
President Bill Clinton Vice President Al Gore Senate Majority Leader Harry Reid (D-NV), Honorary Chair Speaker of the House Nancy Pelosi (D-CA) Senator Tim Wirth, U.N. Foundation President, Moderator U.S. Secretary of Interior Ken Salazar U.S. Secretary of Energy Steven Chu Assistant to the President for Energy and Climate Change Carol Browner T. Boone Pickens, Chairman and Founder, BP Capital Management John Podesta, President and CEO Center for American Progress Action Fund Senate Energy and Natural Resources Committee Chair Jeff Bingaman (D-NM) Senate Appropriations Subcommittee on Energy and Water Chair Byron Dorgan (D-ND) House Select Committee on Energy Independence & Global Warming Chair Ed Markey (D-MA) Acting Federal Energy Regulatory Commission Chairman Jon Wellinghoff Former Governor George Pataki (R-NY) Lee Scott, Executive Committee Chairman, Board of Directors, Wal-Mart Stores, Inc. Mike Morris, Chairman, President and CEO, American Electric Power Michael Thaman, Chairman and CEO, Owens Corning Denise Bode, CEO, American Wind Energy Association Fred Butler, President, National Association of Regulatory Utility Commissioners Rick Fedrizzi, President and CEO, U.S. Green Building Council Van Jones, Founder and President, Green For All Robert Kennedy, Jr., Chairman, Waterkeeper Alliance and Senior Attorney, NRDC Carl Pope, CEO, Sierra Club Nat Simons, Sea Change Foundation Andy Stern, President, Service Employees International Union John J. Sweeney, President, AFL-CIO Rose McKinney James, Energy Foundation Board The 28 participants were together at the "National Clean Energy Project: Building the New Economy" Forum in Washington, DC today. It included remarks to the panelists from President Bill Clinton, former U.S. Senator and United Nations Foundation President Timothy Wirth, Honorary Chairman of the event, Senator Reid, Vice President Al Gore, as well as by business leader and clean energy advocate T. Boone Pickens and Center for American Progress Action Fund President John Podesta.
These speakers touched on key themes of the forum, including overcoming clean energy infrastructure challenges, and reducing America’s dependence on foreign oil. The roundtable discussion among the invited participants, moderated by Mr. Wirth, focused on guiding the transformation of our nation’s energy policies as essential to economic recovery and job creation.
There was a focus on:
modernizing the electricity grid to increase capacity for wind and solar power; integrating energy efficiency, distributed renewable generation, and “smart grid” technology into operation and regulation of our electricity system; and, reducing our nation’s dependence on foreign oil through natural gas, advanced bio fuels, plug-in hybrid cars and advanced batteries. About the National Clean Energy Project
Today’s event was convened by the Center for American Progress Action Fund. Senate Majority Leader Harry Reid was Honorary Chair. The forum grew out of the National Clean Energy Summit convened in 2008 by Sen. Reid, the Center for American Progress Action Fund, and the University Nevada Las Vegas. Today’s forum focused on modernizing and expanding the electricity grid, integrating energy efficiency and distributed generation into operation and regulation, rapidly increasing transmission capacity for renewable energy and reducing our nation’s dependence on foreign oil by using clean domestic alternative transportation fuels.
A video of the event and other information available at: www.nationalcleanenergyproject.org
Contact:Media:Whit Clay, 212-446-1864wclay@sloanepr.comorCenter for American Progress Action FundAnna Soellner, 202-492-2967Asoellner@americanprogressaction.org
--------------------------------------------------------------------------------Source: National Clean Energy Project





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XsunX Highlights Key Provisions Benefiting the Solar Industry in the American Recovery and Reinvestment Act

XsunX Highlights Key Provisions Benefiting the Solar Industry in the American Recovery and Reinvestment Act

ALISO VIEJO, Calif., Feb. 23 - XsunX, Inc. (OTC Bulletin Board: XSNX), a solar technology company engaged in the build-out of its multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facilities in Oregon, highlighted today key provisions of the $70 billion USD investment in renewable energy signed into law by President Barack Obama as part of the American Recovery and Reinvestment Act of 2009 which is designed to increase the use of renewable sources of energy, promote energy efficiency and transmission, improve financing options, and removes market barriers all of which are significant regulatory actions that may prove to be beneficial for XsunX and the renewable energy industry.

The bill provides $2.3 billion worth of energy related manufacturing investment tax credits (ITC) at a 30% rate to address current renewable energy credit market concerns. The bill also provides provisions in which developers can apply for grants of up to 30% of the total cost of eligible projects in lieu of the ITC. These credits and grants apply to projects creating or retooling manufacturing facilities to make components used to generate renewable energy. These are areas in which XsunX is already carrying out activities.

"Solar energy plays a significant aspect of the energy future president Barack Obama has cited in his commitment to generating millions of new green collar jobs while building a new energy economy built on clean energy manufactured and produced in America," commented Tom Djokovich, CEO of XsunX. "Similar to how the burst of the Internet bubble in 2000 did little to prevent the continued rapid adoption of pervasive and efficient new communication technologies, I believe that today's economic difficulties offset by the new administrations energy policies may allow for the continued rapid adoption of solar as a pervasive and efficient new energy source. At XsunX we remain focused on bringing about the completion of our initial manufacturing facilities in Portland, Oregon, so we may begin filling the orders we have received for our solar modules in 2009 and 2010," he concluded.

The following are highlights of legislation from the bill for renewable energy growth and in particular solar energy:
Subsidized Renewable Energy Financing means businesses and individuals can qualify for the full amount of the solar tax credit.
The Renewable Energy Loan Guarantee Program creates a temporary loan guarantee program for renewable energy projects, renewable energy manufacturing facilities and electric power transmission projects.
The Renewable Energy Manufacturing Investment Credit provides up to $2.3 billion to fund a 30 percent investment tax credit for manufacturing assets used to manufacture alternative energy.
New Clean Renewable Energy Bonds provides an additional $1.6 billion for bonds to finance facilities that generate electricity from renewable energy sources including solar.
Solar on Federal Property appropriates $5.5 billion for expenditures on federal buildings to increase energy efficiency, including installing solar energy equipment.
The legislation provides $30 billion in energy efficiency measures including the Smart Grid Investment Program to modernize the electricity grid for added reliability and efficiency.
Qualified Energy Conservation Bonds authorizes $2.4 billion in bonds to finance programs to reduce energy consumption by at least 20% and develop electricity from renewable energy sources.
Green Collar Jobs appropriates $500 million to fund job training programs in energy efficiency and renewable energy.
A complete copy of the American Recovery and Reinvestment Act of 2009 can be found at the following link, http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h1enr.pdf
For more information about XsunX, please visit www.XsunX.com .
For more information about XsunX, please visit XsunX Web site: http://www.XsunX.com

XsunX Web site: http://www.XsunX.com
Contact: For XsunX, Inc. Investor Relations Tel: (888) 797-4527

For XsunX, Inc. Media Relations Tel: (949) 330-8065

Safe Harbor Statement: Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate", "believe", "estimate", "may", "intend", "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Source: XsunX, Inc.

XsunX, Inc. is a featured Company on Green Investor Portal RenewableEnergyStocks.com and Investorideas.com

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Thursday, February 19, 2009

Green Investor - Sector Close- Up of Green Stock Market Movers February 19, 2009

Green Investor - Sector Close- Up of Green Stock Market Movers February 19, 2009


POINT ROBERTS, Wash., Delta B.C., February 19, 2009 - www.InvestorIdeas.com, one of the first online investor resources for renewable energy and green stocks presents a sector close- up of green stock market movers for February 19, 2009.

First Solar, Inc. (NasdaqGS: FSLR) had gains of $2.08 (1.61%).
GWS Technologies, Inc. (OTCBB: GWSC ) was up $ 0.04 (12.12%).
GWSC recent news: read here
Mantra Venture Group Ltd. (OTCBB: MVTG, FSE: 5MV) was up $0.02 (8.70%).
Today’s MVTG news: read here
Spire Corporation (NasdaqGM: SPIR) was up $0.27 (4.08%)
SPIR news: read here
Sustainable Energy Technologies Ltd. (TSX VENTURE: STG) was up $ 0150 (10.00%).

Today in green news:
Excerpt of Transcript of Stephen Harper and Barack Obama Speech Thursday February 19, 2009
“Second, we are launching, as was mentioned, a new initiative to make progress on one of the most pressing challenges of our time: the development and use of clean energy.
How we produce and use energy is fundamental to our economic recovery, but also our security and our planet. And we know that we can't afford to tackle these issues in isolation.
And that's why we're updating our collaboration on energy to meet the needs of the 21st century.
The clean energy dialogue that we've established today will strengthen our joint research and development. It will advance carbon reduction technologies. And it will support the development of an electric grid that can help deliver the clean and renewable energy of the future to homes and businesses, both in Canada and the United States.
And through this example and through continued international negotiations, the United States and Canada are committed to confronting the threat posed by climate changed.”
http://www.globaltv.com/globaltv/national/story.html?id=1307360

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Wednesday, February 18, 2009

Suntech Reports Fourth Quarter and Full Year 2008 Financial Results-Full year 2008 total shipments of solar products grew 36.0% year-over-year

Suntech Reports Fourth Quarter and Full Year 2008 Financial Results-Full year 2008 total shipments of solar products grew 36.0% year-over-year to 497.5 MW.

SAN FRANCISCO and WUXI, China, Feb. 18 2009- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest photovoltaic (PV) module manufacturer, today announced financial results for the fourth quarter and full year ended December 31, 2008.

Fourth Quarter 2008 Financial Highlights(1)

-- Total net revenues grew 4.2% year-over-year to $414.4 million.

-- GAAP gross margin was 0.6% and non-GAAP(2) gross margin was 0.9%. Excluding the provision for inventory and purchase commitments, adjusted non-GAAP consolidated gross margin in the fourth quarter was 13.1%.

-- GAAP net loss was $65.9 million, or negative $0.42 per diluted American Depository Share (ADS). On a non-GAAP basis, Suntech's net loss was $42.4 million, or negative $0.27 per diluted ADS. Each ADS represents one ordinary share.

-- Net debt decreased by $273.7 million to $1,117.8 million as of December 31, 2008.

Full Year 2008 Financial Highlights(1)

-- Total net revenues grew 42.7% year-over-year to $1,923.5 million.

-- Full year 2008 total shipments of solar products grew 36.0% year-over-year to 497.5 MW.

-- GAAP gross margin was 17.8% and non-GAAP(2) gross margin was 18.2%.

-- GAAP net income for the full year was $111.0 million or $0.66 per ADS. On a non-GAAP basis, Suntech's net income for the full year was $149.7 million or $0.89 per diluted ADS.

-- Achieved 1GW solar cell and module production capacity."Customer recognition of Suntech's high performance and premium quality modules enabled us to deliver close to 500MW in the full year 2008 and extend our position as a world leader in solar," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "During 2008, we bolstered our on-the-ground customer service and support capability by opening branches in key markets and hiring experienced solar professionals, achieved 1GW production capacity, and demonstrated our strength in solar innovation with the successful commercialization of our Pluto technology."

"We believe that we are now in a position to service all avenues of solar demand globally, including residential roof-top, commercial roof-top, ground mounted and utility scale. In particular, our continued investment in the U.S. should position us for strong growth in that key market and its burgeoning utility-scale segment via our systems integration unit, Suntech Energy Solutions, and our project development joint venture, Gemini Solar."

"Despite the challenging market conditions, we are confident that we are well positioned to expand our market share in 2009. We believe that the project financing environment is improving and will continue to do so as the year progresses, leading to further growth of the solar industry. We are confident that Suntech's reputation as a global solar leader will benefit us as more and more customers realize the value in partnering with a company that offers stability, first class service, industry-leading scale, superior technology, quality and a broad product portfolio," added Dr. Shi.

RECENT BUSINESS HIGHLIGHTS

Silicon Procurement -- Suntech and MEMC Electronic Materials amended their 10-year silicon wafer supply agreement. As amended, the dollar value of silicon wafer purchases from MEMC remains unchanged, but a volume increase and a price reduction for 2009 have been effectuated.

-- Suntech acquired a minority stake in Asia Silicon Co. Ltd, an independent polysilicon producer, for a total cash consideration of approximately $8.1 million. Suntech previously entered into an agreement to purchase up to $1.5 billion high purity polysilicon from Asia Silicon over a seven-year period. Polysilicon cost decreases to less than $40 per kilogram during the term of the agreement.

Notable PV Projects -- Suntech was chosen to design and construct a BIPV system totaling 3MW on the China and Theme Pavilions at the World Expo Shanghai 2010. The project will be the largest BIPV installation in China.

-- Suntech supplied 5MW of Suntech solar panels for the largest solar plant in the Middle East, a 10MW solar electricity system to power Masdar City, the world's first carbon neutral city being built in Abu Dhabi, United Arab Emirates. The solar system is being built and designed by leading Abu Dhabi based solar power system integrator, Enviromena Power Systems.

Product Offering Expansion -- Suntech entered into an exclusive agreement giving Suntech rights related to the worldwide manufacturing, distribution and marketing of Applied Solar's building integrated solar roof tile product, SolarBlend(TM), and roof membrane product, SolarEze(TM). The agreements combine Suntech's industry-leading products with Applied Solar's innovative BIPV applications to provide a more comprehensive set of product offerings to the residential and commercial market.

U.S. Dealer Network -- Suntech continued expanding its dealer network of residential rooftop installers and integrators in the U.S. Currently, Suntech's network includes over 100 dealers, up from 30 at the end of the third quarter of 2008.

Technology -- Suntech has a fully operational 34MW Pluto PV cell line and is in the process of adding another 68MW of Pluto capacity. Suntech expects to receive industry certification for Pluto PV modules in the second quarter of 2009 and targets shipments of more than 50MW of Pluto modules in 2009.

-- The Pluto high efficiency technology consistently achieves conversion efficiencies of close to 17% on multi-crystalline PV cells and close to 19% on mono-crystalline PV cells. Suntech anticipates that the higher conversion efficiencies will improve power output by up to 12% above conventional screen-printed PV cells, enable improved space utilization and reduce installation and other balance of system costs.

Convertible Senior Note Repurchase -- Through December 31, 2008, Suntech repurchased $93.8 million aggregate principal amount of its 0.25% Convertible Senior Notes due 2012 for cash consideration of $61.0 million. As a result, Suntech realized a net gain of approximately $31.1 million.

Capital and Credit Facilities -- Suntech had approximately $2.4 billion of approved credit lines to be used for fixed asset purchase, working capital or trade financing as of December 31, 2008. Of these credit facilities approximately $1.2 billion had been drawn down as of December 31, 2008. Suntech expects that its capital will be sufficient to cover its capital expenditures in 2009 while maintaining adequate working capital to support its operations.



Fourth Quarter 2008 Results

Net Non-GAAP Non-GAAP Revenues Gross Profit Gross Margin

(in $ % of Net (in $ millions) Revenues millions) (%)

Standard PV Modules $382.6 92.3 % $11.4 3.0 % Others $31.8 7.7 % ($7.8) (24.0%) Total Net Revenues $414.4 100 % $3.6 0.9 %

Provision for inventory and purchase commitment $50.7 12.2 % Adjusted Non-GAAP Gross Profit $54.3 13.1 %

Total net revenues for the fourth quarter of 2008 were $414.4 million, a decrease of 30.3% from $594.4 million in the third quarter of 2008. The sequential decrease in revenues was primarily due to a decrease in shipments and the average selling price of PV products.

Non-GAAP gross profit for the fourth quarter of 2008 was $3.6 million, compared to $129.7 million for the third quarter of 2008.

Fourth quarter of 2008 non-GAAP consolidated gross margin was 0.9%, compared to 21.8% in the third quarter of 2008. Gross margin decreased from the third quarter of 2008 primarily due to a sequential decrease in the average selling price of PV products and a provision for inventory and purchase commitments of $50.7 million in total, reflecting the rapid decrease in the silicon and module prices in the fourth quarter. The provision for inventory and purchase commitments had a 12.2% negative impact on margins. Excluding the provision for inventory and purchase commitments, adjusted non- GAAP consolidated gross margin in the fourth quarter was 13.1%, and adjusted non-GAAP net income margin was 2.0%.

Non-GAAP operating expenses in the fourth quarter of 2008 totaled $41.9 million or 10.1% of total net revenues, compared to $37.1 million or 6.2% of total net revenues in the third quarter of 2008. The increase was primarily due to an increase in provisions for doubtful debts and additional compensation expenses attributable to employees at Suntech Energy Solutions, which was acquired during the fourth quarter.

Non-GAAP loss from operations for the fourth quarter of 2008 was $38.2 million, compared to income from operations of $92.6 million in the third quarter of the 2008. Non-GAAP operating margin was negative 9.2% in the fourth quarter of 2008, compared to positive 15.6% in the third quarter of 2008.

Net interest expense was $8.0 million in the fourth quarter of 2008 compared to net interest expense of $7.9 million in the third quarter of 2008.

In January 2009, Suntech adopted Financial Accounting Standards Board Staff Position No. APB 14-1, Accounting for Convertible Debt Instruments that may be Settled in Cash Upon Conversion ("FSP APB 14-1"). The Company is currently assessing the impact of adopting FSP APB 14-1, which the Company believes will be material to its results of operations. FSP APB 14-1 requires that the liability and equity components of convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) be separately accounted for in a manner that reflects an issuer's nonconvertible debt borrowing rate.

Foreign currency exchange loss was $3.2 million in the fourth quarter of 2008, compared to a loss of $16.6 million in the third quarter of 2008. The decrease was primarily due to a revaluation gain from the depreciation of net liabilities denominated in CNY in the fourth quarter of 2008. The exchange gain was largely offset by the revaluation loss resulting from the significant depreciation of net assets denominated in EUR.

Net other expenses increased to $19.7 million in the fourth quarter of 2008 from $3.2 million in the third quarter of 2008. The increase in net other expenses was primarily due to an investment impairment of $48.8 million for Suntech's investments in Hoku and Nitol, which was partially offset by a net gain of $31.1 million from the repurchase of the Convertible Senior Notes at a discount.

Non-GAAP net loss for the fourth quarter of 2008 was $42.4 million, or negative $0.27 per diluted ADS, compared to non-GAAP net income of $60.3 million, or $0.35 per diluted ADS in the third quarter of 2008.

On a GAAP basis, for the fourth quarter of 2008 gross profit was $2.3 million. Consolidated gross margin was 0.6% for the fourth quarter of 2008.

On a GAAP basis, operating expenses for the fourth quarter of 2008 were $46.2 million or 11.1% of total net revenues. Loss from operations was $43.8 million for the fourth quarter of 2008. Net loss for the fourth quarter of 2008 was $65.9 million, or negative $0.42 per diluted ADS.

In the fourth quarter of 2008, capital expenditures, which were primarily related to expanding production capacity and constructing Suntech's production facilities, totaled $109.1 million. Depreciation and amortization expenses totaled $11.6 million.

Cash and cash equivalents increased to $507.8 million as of December 31, 2008 from $394.6 million as of September 20, 2008. The increase was mainly due to the accelerated collection of VAT recoverable and the liquidation of short- term investments. The increase was partially offset by the cash payments for the repurchase of the Convertible Senior Notes and repayment of bank borrowings. As a result of the foregoing, the net debt balance decreased from $1,391.5 million as of September 30, 2008 to $1,117.8 million as of December 31, 2008.

Restricted cash was $70.7 million as of December 31, 2008.

Inventory totaled $231.9 million as of December 31, 2008 compared to $247.9 million as of September 30, 2008. The decrease was primarily caused by the inventory provision.

Value-added tax recoverable totaled $75.7 million as of December 31, 2008, compared to $201.8 million as of September 30, 2008. The decrease was mainly due to the accelerated collection of some value-added tax recoverable in the fourth quarter of 2008.



Full Year 2008 Results

Net Non-GAAP Non-GAAP Revenues Gross Profit Gross Margin

(in $ % of Net (in $ millions) Revenues millions) (%)

Standard $1,785.8 92.8 % $343.8 19.3 % PV Modules Others $137.7 7.2 % $5.7 4.1 % Total Net $1,923.5 100 % $349.5 18.2 % Revenues

Total net revenues for the full year 2008 were $1,923.5 million, representing a 42.7% increase from 2007.

On a non-GAAP basis, the full year 2008 gross profit was $349.5 million, an increase of 22.7% year-over-year. 2008 consolidated gross margin was 18.2% compared to 21.1% in 2007. Income from operations was $205.7 million compared to $215.1 million in 2007. Net income was $149.7 million or $0.89 per diluted ADS, compared to non-GAAP net income of $201.0 million or $1.19 per diluted ADS in the full year 2007.

On a GAAP basis, for the full year 2008 gross profit was $342.9 million, an increase of 25.1% year-over-year. 2008 gross margin was 17.8% compared to 20.3% in 2007. Income from operations was $182.5 million, a decrease of 0.8% year-over-year. Net income was $111.0 million, a decrease of 35.2% year-over- year, or $0.66 per diluted ADS, compared to net income of $171.3 million or $1.02 per diluted ADS in the full year 2007.

In the full year 2008, capital expenditures, which were primarily related to expanding production capacity and constructing Suntech's production facilities, totaled $347.9 million. Depreciation and amortization expenses totaled $39.3 million.

Business Outlook

Based on current operating conditions, Suntech expects revenues for the first quarter of 2009 to be in the range of $340 million to $380 million, assuming an exchange rate of $1.28 U.S. dollars to the Euro in the first quarter 2009. GAAP consolidated gross margin in the first quarter of 2009 is expected to be in the range of 12% to 15%.

Suntech expects full-year 2009 shipments of more than 800MW. Suntech intends to hold PV cell production capacity at 1GW in 2009 until credit market visibility improves. Suntech expects capital expenditures of approximately $100 million in 2009. The majority of 2009 capital expenditures will be utilized to retrofit existing production capacity to the high efficiency Pluto technology and the completion of the thin film facility.

Fourth Quarter and Full Year 2008 Conference Call Information

Suntech management will host a conference call today, Wednesday, February 18, 2009 at 8:00 a.m. Eastern Time (which corresponds to 9:00 p.m. Beijing/Hong Kong time and 1:00 p.m. Greenwich Mean Time on February 18, 2009) to discuss the Company's results.

To access the conference call, please dial +1-617-786-2963 (for U.S. callers) or +852-3002-1672 (for international callers) and ask to be connected to the Suntech earnings conference call. A live and archived webcast of the conference call will be available on Suntech's website at http://www.suntech-power.com under Investor Center: Financial Events.

A telephonic replay of the conference call will be available until March 4, 2009 by dialing +1-617-801-6888 (passcode: 58672451).

About Suntech

Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar energy company as measured by production output of solar modules. Suntech designs, develops, manufactures, and markets premium-quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's patent-pending Pluto technology for crystalline silicon solar cells improves power output by up to 12% compared to conventional production methods.

Suntech also offers one of the broadest ranges of building-integrated solar products under the MSK Solar Design Line(TM). Suntech designs and delivers commercial and utility scale solar power systems through its wholly owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and will own and operate projects greater than 10 megawatts in the United States through Gemini Solar Development Company, a joint venture with MMA Renewable Ventures. With regional headquarters in China, Switzerland and San Francisco and sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. For more information, please visit http://www.suntech-power.com .

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and includes our ability to grow in the United States and in the utility scale segment, our ability to expand our market share in 2009, whether the project financing environment will improve in 2009, our ability to receive industry certification of Pluto and total shipment of Pluto modules 2009, our ability to repurchase or refinance the convertible senior notes, estimated Q1 2009 revenue and gross margin, and estimated full year 2009 shipments and capital expenditures. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward- looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

financial tables and full release visit http://www.suntech-power.com .




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Suntech Reports Fourth Quarter and Full Year 2008 Financial Results-Full year 2008 total shipments of solar products grew 36.0% year-over-year

Suntech Reports Fourth Quarter and Full Year 2008 Financial Results-Full year 2008 total shipments of solar products grew 36.0% year-over-year to 497.5 MW.

SAN FRANCISCO and WUXI, China, Feb. 18 2009- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest photovoltaic (PV) module manufacturer, today announced financial results for the fourth quarter and full year ended December 31, 2008.

Fourth Quarter 2008 Financial Highlights(1)

-- Total net revenues grew 4.2% year-over-year to $414.4 million.

-- GAAP gross margin was 0.6% and non-GAAP(2) gross margin was 0.9%. Excluding the provision for inventory and purchase commitments, adjusted non-GAAP consolidated gross margin in the fourth quarter was 13.1%.

-- GAAP net loss was $65.9 million, or negative $0.42 per diluted American Depository Share (ADS). On a non-GAAP basis, Suntech's net loss was $42.4 million, or negative $0.27 per diluted ADS. Each ADS represents one ordinary share.

-- Net debt decreased by $273.7 million to $1,117.8 million as of December 31, 2008.

Full Year 2008 Financial Highlights(1)

-- Total net revenues grew 42.7% year-over-year to $1,923.5 million.

-- Full year 2008 total shipments of solar products grew 36.0% year-over-year to 497.5 MW.

-- GAAP gross margin was 17.8% and non-GAAP(2) gross margin was 18.2%.

-- GAAP net income for the full year was $111.0 million or $0.66 per ADS. On a non-GAAP basis, Suntech's net income for the full year was $149.7 million or $0.89 per diluted ADS.

-- Achieved 1GW solar cell and module production capacity."Customer recognition of Suntech's high performance and premium quality modules enabled us to deliver close to 500MW in the full year 2008 and extend our position as a world leader in solar," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "During 2008, we bolstered our on-the-ground customer service and support capability by opening branches in key markets and hiring experienced solar professionals, achieved 1GW production capacity, and demonstrated our strength in solar innovation with the successful commercialization of our Pluto technology."

"We believe that we are now in a position to service all avenues of solar demand globally, including residential roof-top, commercial roof-top, ground mounted and utility scale. In particular, our continued investment in the U.S. should position us for strong growth in that key market and its burgeoning utility-scale segment via our systems integration unit, Suntech Energy Solutions, and our project development joint venture, Gemini Solar."

"Despite the challenging market conditions, we are confident that we are well positioned to expand our market share in 2009. We believe that the project financing environment is improving and will continue to do so as the year progresses, leading to further growth of the solar industry. We are confident that Suntech's reputation as a global solar leader will benefit us as more and more customers realize the value in partnering with a company that offers stability, first class service, industry-leading scale, superior technology, quality and a broad product portfolio," added Dr. Shi.

RECENT BUSINESS HIGHLIGHTS

Silicon Procurement -- Suntech and MEMC Electronic Materials amended their 10-year silicon wafer supply agreement. As amended, the dollar value of silicon wafer purchases from MEMC remains unchanged, but a volume increase and a price reduction for 2009 have been effectuated.

-- Suntech acquired a minority stake in Asia Silicon Co. Ltd, an independent polysilicon producer, for a total cash consideration of approximately $8.1 million. Suntech previously entered into an agreement to purchase up to $1.5 billion high purity polysilicon from Asia Silicon over a seven-year period. Polysilicon cost decreases to less than $40 per kilogram during the term of the agreement.

Notable PV Projects -- Suntech was chosen to design and construct a BIPV system totaling 3MW on the China and Theme Pavilions at the World Expo Shanghai 2010. The project will be the largest BIPV installation in China.

-- Suntech supplied 5MW of Suntech solar panels for the largest solar plant in the Middle East, a 10MW solar electricity system to power Masdar City, the world's first carbon neutral city being built in Abu Dhabi, United Arab Emirates. The solar system is being built and designed by leading Abu Dhabi based solar power system integrator, Enviromena Power Systems.

Product Offering Expansion -- Suntech entered into an exclusive agreement giving Suntech rights related to the worldwide manufacturing, distribution and marketing of Applied Solar's building integrated solar roof tile product, SolarBlend(TM), and roof membrane product, SolarEze(TM). The agreements combine Suntech's industry-leading products with Applied Solar's innovative BIPV applications to provide a more comprehensive set of product offerings to the residential and commercial market.

U.S. Dealer Network -- Suntech continued expanding its dealer network of residential rooftop installers and integrators in the U.S. Currently, Suntech's network includes over 100 dealers, up from 30 at the end of the third quarter of 2008.

Technology -- Suntech has a fully operational 34MW Pluto PV cell line and is in the process of adding another 68MW of Pluto capacity. Suntech expects to receive industry certification for Pluto PV modules in the second quarter of 2009 and targets shipments of more than 50MW of Pluto modules in 2009.

-- The Pluto high efficiency technology consistently achieves conversion efficiencies of close to 17% on multi-crystalline PV cells and close to 19% on mono-crystalline PV cells. Suntech anticipates that the higher conversion efficiencies will improve power output by up to 12% above conventional screen-printed PV cells, enable improved space utilization and reduce installation and other balance of system costs.

Convertible Senior Note Repurchase -- Through December 31, 2008, Suntech repurchased $93.8 million aggregate principal amount of its 0.25% Convertible Senior Notes due 2012 for cash consideration of $61.0 million. As a result, Suntech realized a net gain of approximately $31.1 million.

Capital and Credit Facilities -- Suntech had approximately $2.4 billion of approved credit lines to be used for fixed asset purchase, working capital or trade financing as of December 31, 2008. Of these credit facilities approximately $1.2 billion had been drawn down as of December 31, 2008. Suntech expects that its capital will be sufficient to cover its capital expenditures in 2009 while maintaining adequate working capital to support its operations.



Fourth Quarter 2008 Results

Net Non-GAAP Non-GAAP Revenues Gross Profit Gross Margin

(in $ % of Net (in $ millions) Revenues millions) (%)

Standard PV Modules $382.6 92.3 % $11.4 3.0 % Others $31.8 7.7 % ($7.8) (24.0%) Total Net Revenues $414.4 100 % $3.6 0.9 %

Provision for inventory and purchase commitment $50.7 12.2 % Adjusted Non-GAAP Gross Profit $54.3 13.1 %

Total net revenues for the fourth quarter of 2008 were $414.4 million, a decrease of 30.3% from $594.4 million in the third quarter of 2008. The sequential decrease in revenues was primarily due to a decrease in shipments and the average selling price of PV products.

Non-GAAP gross profit for the fourth quarter of 2008 was $3.6 million, compared to $129.7 million for the third quarter of 2008.

Fourth quarter of 2008 non-GAAP consolidated gross margin was 0.9%, compared to 21.8% in the third quarter of 2008. Gross margin decreased from the third quarter of 2008 primarily due to a sequential decrease in the average selling price of PV products and a provision for inventory and purchase commitments of $50.7 million in total, reflecting the rapid decrease in the silicon and module prices in the fourth quarter. The provision for inventory and purchase commitments had a 12.2% negative impact on margins. Excluding the provision for inventory and purchase commitments, adjusted non- GAAP consolidated gross margin in the fourth quarter was 13.1%, and adjusted non-GAAP net income margin was 2.0%.

Non-GAAP operating expenses in the fourth quarter of 2008 totaled $41.9 million or 10.1% of total net revenues, compared to $37.1 million or 6.2% of total net revenues in the third quarter of 2008. The increase was primarily due to an increase in provisions for doubtful debts and additional compensation expenses attributable to employees at Suntech Energy Solutions, which was acquired during the fourth quarter.

Non-GAAP loss from operations for the fourth quarter of 2008 was $38.2 million, compared to income from operations of $92.6 million in the third quarter of the 2008. Non-GAAP operating margin was negative 9.2% in the fourth quarter of 2008, compared to positive 15.6% in the third quarter of 2008.

Net interest expense was $8.0 million in the fourth quarter of 2008 compared to net interest expense of $7.9 million in the third quarter of 2008.

In January 2009, Suntech adopted Financial Accounting Standards Board Staff Position No. APB 14-1, Accounting for Convertible Debt Instruments that may be Settled in Cash Upon Conversion ("FSP APB 14-1"). The Company is currently assessing the impact of adopting FSP APB 14-1, which the Company believes will be material to its results of operations. FSP APB 14-1 requires that the liability and equity components of convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) be separately accounted for in a manner that reflects an issuer's nonconvertible debt borrowing rate.

Foreign currency exchange loss was $3.2 million in the fourth quarter of 2008, compared to a loss of $16.6 million in the third quarter of 2008. The decrease was primarily due to a revaluation gain from the depreciation of net liabilities denominated in CNY in the fourth quarter of 2008. The exchange gain was largely offset by the revaluation loss resulting from the significant depreciation of net assets denominated in EUR.

Net other expenses increased to $19.7 million in the fourth quarter of 2008 from $3.2 million in the third quarter of 2008. The increase in net other expenses was primarily due to an investment impairment of $48.8 million for Suntech's investments in Hoku and Nitol, which was partially offset by a net gain of $31.1 million from the repurchase of the Convertible Senior Notes at a discount.

Non-GAAP net loss for the fourth quarter of 2008 was $42.4 million, or negative $0.27 per diluted ADS, compared to non-GAAP net income of $60.3 million, or $0.35 per diluted ADS in the third quarter of 2008.

On a GAAP basis, for the fourth quarter of 2008 gross profit was $2.3 million. Consolidated gross margin was 0.6% for the fourth quarter of 2008.

On a GAAP basis, operating expenses for the fourth quarter of 2008 were $46.2 million or 11.1% of total net revenues. Loss from operations was $43.8 million for the fourth quarter of 2008. Net loss for the fourth quarter of 2008 was $65.9 million, or negative $0.42 per diluted ADS.

In the fourth quarter of 2008, capital expenditures, which were primarily related to expanding production capacity and constructing Suntech's production facilities, totaled $109.1 million. Depreciation and amortization expenses totaled $11.6 million.

Cash and cash equivalents increased to $507.8 million as of December 31, 2008 from $394.6 million as of September 20, 2008. The increase was mainly due to the accelerated collection of VAT recoverable and the liquidation of short- term investments. The increase was partially offset by the cash payments for the repurchase of the Convertible Senior Notes and repayment of bank borrowings. As a result of the foregoing, the net debt balance decreased from $1,391.5 million as of September 30, 2008 to $1,117.8 million as of December 31, 2008.

Restricted cash was $70.7 million as of December 31, 2008.

Inventory totaled $231.9 million as of December 31, 2008 compared to $247.9 million as of September 30, 2008. The decrease was primarily caused by the inventory provision.

Value-added tax recoverable totaled $75.7 million as of December 31, 2008, compared to $201.8 million as of September 30, 2008. The decrease was mainly due to the accelerated collection of some value-added tax recoverable in the fourth quarter of 2008.



Full Year 2008 Results

Net Non-GAAP Non-GAAP Revenues Gross Profit Gross Margin

(in $ % of Net (in $ millions) Revenues millions) (%)

Standard $1,785.8 92.8 % $343.8 19.3 % PV Modules Others $137.7 7.2 % $5.7 4.1 % Total Net $1,923.5 100 % $349.5 18.2 % Revenues

Total net revenues for the full year 2008 were $1,923.5 million, representing a 42.7% increase from 2007.

On a non-GAAP basis, the full year 2008 gross profit was $349.5 million, an increase of 22.7% year-over-year. 2008 consolidated gross margin was 18.2% compared to 21.1% in 2007. Income from operations was $205.7 million compared to $215.1 million in 2007. Net income was $149.7 million or $0.89 per diluted ADS, compared to non-GAAP net income of $201.0 million or $1.19 per diluted ADS in the full year 2007.

On a GAAP basis, for the full year 2008 gross profit was $342.9 million, an increase of 25.1% year-over-year. 2008 gross margin was 17.8% compared to 20.3% in 2007. Income from operations was $182.5 million, a decrease of 0.8% year-over-year. Net income was $111.0 million, a decrease of 35.2% year-over- year, or $0.66 per diluted ADS, compared to net income of $171.3 million or $1.02 per diluted ADS in the full year 2007.

In the full year 2008, capital expenditures, which were primarily related to expanding production capacity and constructing Suntech's production facilities, totaled $347.9 million. Depreciation and amortization expenses totaled $39.3 million.

Business Outlook

Based on current operating conditions, Suntech expects revenues for the first quarter of 2009 to be in the range of $340 million to $380 million, assuming an exchange rate of $1.28 U.S. dollars to the Euro in the first quarter 2009. GAAP consolidated gross margin in the first quarter of 2009 is expected to be in the range of 12% to 15%.

Suntech expects full-year 2009 shipments of more than 800MW. Suntech intends to hold PV cell production capacity at 1GW in 2009 until credit market visibility improves. Suntech expects capital expenditures of approximately $100 million in 2009. The majority of 2009 capital expenditures will be utilized to retrofit existing production capacity to the high efficiency Pluto technology and the completion of the thin film facility.

Fourth Quarter and Full Year 2008 Conference Call Information

Suntech management will host a conference call today, Wednesday, February 18, 2009 at 8:00 a.m. Eastern Time (which corresponds to 9:00 p.m. Beijing/Hong Kong time and 1:00 p.m. Greenwich Mean Time on February 18, 2009) to discuss the Company's results.

To access the conference call, please dial +1-617-786-2963 (for U.S. callers) or +852-3002-1672 (for international callers) and ask to be connected to the Suntech earnings conference call. A live and archived webcast of the conference call will be available on Suntech's website at http://www.suntech-power.com under Investor Center: Financial Events.

A telephonic replay of the conference call will be available until March 4, 2009 by dialing +1-617-801-6888 (passcode: 58672451).

About Suntech

Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar energy company as measured by production output of solar modules. Suntech designs, develops, manufactures, and markets premium-quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's patent-pending Pluto technology for crystalline silicon solar cells improves power output by up to 12% compared to conventional production methods.

Suntech also offers one of the broadest ranges of building-integrated solar products under the MSK Solar Design Line(TM). Suntech designs and delivers commercial and utility scale solar power systems through its wholly owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and will own and operate projects greater than 10 megawatts in the United States through Gemini Solar Development Company, a joint venture with MMA Renewable Ventures. With regional headquarters in China, Switzerland and San Francisco and sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. For more information, please visit http://www.suntech-power.com .

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and includes our ability to grow in the United States and in the utility scale segment, our ability to expand our market share in 2009, whether the project financing environment will improve in 2009, our ability to receive industry certification of Pluto and total shipment of Pluto modules 2009, our ability to repurchase or refinance the convertible senior notes, estimated Q1 2009 revenue and gross margin, and estimated full year 2009 shipments and capital expenditures. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward- looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

financial tables and full release visit http://www.suntech-power.com .




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