Suntech leaves EU Price Undertaking too

Wuxi Suntech Power Co Ltd announced today it is the latest Chinese solar module maker to voluntarily withdraw from the European Union (EU) Price Undertaking relating to photovoltaic (PV) products imported from China.

The EU has accepted Suntech’s decision to withdraw from the agreement on October 11 after the company gave notice on August 1. Suntech said that the fixed minimum import price (MIP) set in the agreement should have been adjusted to align with the continuous decline in global average selling prices.

In late 2013, the EU imposed definitive anti-dumping and anti-subsidy duties on solar cells and modules imported from China and then agreed the MIP with some Chinese manufacturers, which sought to avoid the duties at the time.

“Being out of the Undertaking agreement gives us more flexibility to serve Suntech's EU customers with excellent reliable products and will help us to expand our business," stated He Shuangquan, executive president of Wuxi Suntech.

Other major Chinese manufacturers to withdraw from the EU Price Undertaking include JinkoSolar (NYSE:JKS), JA Solar Holdings Co Ltd (NASDAQ:JASO) and Trina Solar Ltd (NYSE:TSL).

Meanwhile, more than 400 European companies turned to European trade commissioner Cecilia Malmstrom with a request to end the trade duties, while other sector players, according to solar organisation EU ProSun, keep supporting the extension of the measures.

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