3rd Rock will act as project developer and leverage existing relationships to raise project financing for the solar energy systems. Suntech will be the ‘preferred supplier’ of solar modules and provide engineering, procurement and construction services through its wholly owned subsidiary, Suntech Energy Solutions for projects developed under the alliance.

"This alliance creates an excellent opportunity to leverage 3rd Rock's expertise in monetising a broad variety of tax credits, loans and other incentives, which are particularly appealing to schools and other non-profit organisations, with Suntech's engineering expertise and access to solar panels," says Steven Chan, Suntech's Chief Strategy Officer and President of Global Sales and Marketing.

"Combined with our existing pipeline of traditional commercial and utility projects and our growing network of residential installers, this will enable us to directly serve the full breadth of solar customers in the US."