Shi Zhengrong

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Shi Zhengrong
施正荣
施正荣 (Shī Zhèngróng)
Shi Zhengrong - World Economic Forum Annual Meeting 2012.jpg
Shi at the World Economic Forum annual meeting in 2012
Born
Shi Zhengrong

(1963-02-10) 10 February 1963 (age 61)
Alma mater Changchun University of Science and Technology
Shanghai Institute of Optics and Fine Mechanics, Chinese Academy of Sciences
University of New South Wales
Occupation(s)Founder, former chairman & CEO
Suntech Power
SpouseZhang Wei
RelativesChen Henglong
(twin brother)

Shi Zhengrong (Chinese :施正荣; pinyin :Shī Zhèngróng, born on February 10, 1963 [1] ) is a Chinese-Australian businessman and philanthropist. He is the founder and, up to March 2013, chairman and chief executive officer of Suntech Power.

Contents

Biography

Shi was born in Yangzhong, Jiangsu, China. His identical twin brother is Chen Henglong, who is also a tycoon. He finished his undergraduate study at Changchun University of Science and Technology, and obtained his Master's degree from the Shanghai Institute of Optics and Fine Mechanics, Chinese Academy of Sciences. Afterward, Shi went to the University of New South Wales's School of Photovoltaic and Renewable Energy Engineering where he obtained his doctorate degree on solar power technology. [2] Shi studied with Professor Martin Green. [3] :143

He acquired Australian citizenship [4] and returned to China in 2001 to set up the solar power company Suntech Power. Shi founded Suntech with support from the Wuxi city government, which held a 25% stake in the company. [3] :143–144

After Suntech's listing on the New York Stock Exchange in 2005, Shi became the richest person in China. [3] :144 Academic Lan Xiaohuan writes that Shi's wealth following the listing "acted as a strong demonstration effect and local governments across China soon began to invest in the solar industry." [3] :144

Shi was elected Fellow of the Australian Academy of Technological Sciences and Engineering in 2009. In 2009, Shi also received the Oslo Business for Peace Award, an award chosen by Nobel winners to leaders in the private sector who have demonstrated transformative and positive change through ethical business practices. [5]

According to Hurun Report's China Rich List 2013, he had a personal net worth of US$330 million. [6]

Amid fierce price competition on its products, on 20 March 2013, the Suntech board declared bankruptcy in the wake of defaulting on US$541 million-worth of bonds, Shi had been demoted from chairman to director earlier that month. The Financial Times , quoting the Shanghai Securities News , reported at the time that Shi's movements were being restricted and that he was not allowed to leave China pending an investigation into his role at Suntech. [7] By 2016, he was living in Shanghai and frequently visiting Australia. [8] As of 2017 and 2018, Dr. Shi Zhengrong had been seen actively giving key note speeches at solar conferences and promoting the use of solar technologies in both China and overseas. [9] [10] [11]

Philanthropy

He has donated funds to a renewable energy research unit at the University of NSW, Australia "because he felt it was not getting an appropriate level of government support", according to Australian Greens Senator Christine Milne. [12]

Related Research Articles

<span class="mw-page-title-main">Suntech Power</span> Chinese producer of solar panels

Suntech Power Holdings Co., Ltd. is a Chinese producer of solar panels, with 2,000 MW (2,700,000 hp) of annual production capacity by the end of 2011. It is headquartered in Wuxi, Jiangsu. Shunfeng International Clean Energy Limited, a HKSE listed renewable energy investment and Independent Power Producer company, acquired Suntech in 2014 following Suntech's bankruptcy in 2013. With offices or production facilities in every major market, Suntech has delivered more than 13,000,000 solar panels to thousands of companies in more than 80 countries around the world. As the center for the company's global operations, Suntech headquarters, in Wuxi, China, features the world's largest building integrated solar facade.

<span class="mw-page-title-main">Martin Green (professor)</span> Australian engineer and professor

Martin Andrew Green is an Australian engineer and professor at the University of New South Wales who works on solar energy. He was awarded the 2021 Japan Prize for his achievements in the "Development of High-Efficiency Silicon Photovoltaic Devices". He is editor-in-chief of the academic journal Progress in Photovoltaics.

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The Mesquite Solar project is a 512.5-megawatt (MWAC) photovoltaic power plant in Arlington, Maricopa County, Arizona, owned by Sempra Generation and Consolidated Edison Development Inc. The first three phases of the project were constructed using more than 2.1 million crystalline silicon solar panels made by Suntech Power. Mesquite 4 and 5 added another 112.5 MW and 70 MW of battery storage.

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<span class="mw-page-title-main">Photovoltaic engineering in Australia</span>

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References

  1. "The alternative rich list". 22 September 2006. Archived from the original on 31 May 2008. Retrieved 7 May 2007.
  2. School of Photovoltaic and Renewable Energy Engineering
  3. 1 2 3 4 Lan, Xiaohuan (2024). How China Works: An Introduction to China's State-led Economic Development. Translated by Topp, Gary. Palgrave Macmillan. doi:10.1007/978-981-97-0080-6. ISBN   978-981-97-0079-0.
  4. "#396 Shi Zhengrong". The World's Billionaires. Forbes. 5 March 2008.
  5. "Past Honourees".
  6. "China Rich List 2013". Hurun Report. Archived from the original on 31 August 2014. Retrieved 4 September 2014.
  7. Financial Times, Dark times for Suntech's solar star.
  8. The Australian, Shi Zhengrong: the Sun King's new dawn.
  9. Thousands of photovoltaic elites gather in Shanghai to discuss jointly the ways of innovation and development of the industry Archived 2018-11-29 at the Wayback Machine , PGO China , September 12, 2018.
  10. Shi Zhengrong: vast room exists for development, innovation and application of PV products Archived 2018-11-29 at the Wayback Machine , Xinhua , September 16, 2017.
  11. Investment in solar a sure bet says Chinese pioneer Archived 2018-11-29 at the Wayback Machine , University of New England , Published 17 October 2017.
  12. 'Climate of fear' in solar research, The Canberra Times , 30 May 2006. Accessed 5 June 2006.