Siemens Energy, a division of Siemens (NYSE: SI) has signed framework agreement with Suntech Power Holdings Co. Ltd. (NYSE: STP), the world’s largest manufacturer of photovoltaic (PV) modules, to supply solar power projects in Europe.

Siemens is offering EPC solutions for photovoltaic plants, "With Suntech we have a bankable partner to provide reliable photovoltaic plants to our customers." said Martin Schulz, Vice President Photovoltaic Siemens Renewable Energy Division.

Siemens has orders for photovoltaic plants with a combined capacity of over 80 MW  from six countries. Siemens handles the turnkey construction of the plants using in-house components such as inverters and transformers and and independent panel sourcing as well as local sourcing.  Suntech will supply the solar panels.

"We are excited to establish a strategic cooperation with a strong partner such as Siemens. We have already started executing on the agreement for projects developed throughout Europe. Siemens’ global presence facilitates joint projects in Europe as well as in other parts of the world." Jerry Stokes, president of Suntech Europe, said in the statement.

"With Suntech, we have a bankable partner to provide reliable photovoltaic plants to our customers," said Martin Schulz, Vice President Photovoltaic, Siemens Renewable Energy Division.

Photovoltaic plants are part of Siemens’ Environmental Portfolio. In fiscal 2010, revenue from the Portfolio totalled about EUR28 billion, making Siemens the world’s largest supplier of Eco-friendly technologies. In the same period, our products and solutions enabled customers to reduce their carbon dioxide (CO2) emissions by 270 million tons, an amount equal to the total annual CO2 emissions of the megacities Hong Kong, London, New York, Tokyo, Delhi and Singapore.