Shi Zhengrong
Shi Zhengrong | |
|---|---|
| Born | February 10, 1963 Yangzhong, Jiangsu, China |
| Occupation(s) | Businessman, philanthropist |
| Known for | Founder of Suntech Power |
Shi Zhengrong (; born February 10, 1963) is a businessman and philanthropist holding dual Chinese and Australian nationality. He is the founder of Suntech Power and held the positions of chairman and CEO until March 2013.
Biography
Shi was born in Yangzhong, Jiangsu, China, and has an identical twin brother, Chen Henglong, who is also a prominent entrepreneur. He earned his bachelor's degree from Changchun University of Science and Technology and completed a master's program at the Shanghai Institute of Optics and Fine Mechanics under the Chinese Academy of Sciences. Shi later achieved a PhD in solar power technology from the University of New South Wales’s School of Photovoltaic and Renewable Energy Engineering, where he studied with Professor Martin Green.
After becoming an Australian citizen, Shi returned to China in 2001 to launch Suntech Power with financial backing from the Wuxi municipal government, which retained a 25% ownership share. When Suntech went public on the New York Stock Exchange in 2005, Shi was recognized as the wealthiest individual in China at that time. His achievements encouraged numerous regional governments throughout China to invest significantly in solar energy development.
In 2009, Shi was honored as a Fellow of the Australian Academy of Technological Sciences and Engineering and was awarded the Oslo Business for Peace Award for demonstrating ethical business leadership.
The Hurun Report's China Rich List in 2013 estimated Shi’s fortune at approximately US$330 million.
Due to fierce pricing pressures, Suntech defaulted on bonds totaling US$541 million and filed for bankruptcy protection on March 20, 2013. Earlier that month, Shi was reassigned from chairman to director. Reports suggested that his movements were restricted amid investigations related to his management at Suntech. By 2016, he was living in Shanghai while frequently traveling to Australia.
Between 2017 and 2018, Shi continued his involvement in the solar industry by delivering keynote addresses at major conferences and advocating for broader adoption of solar technologies both within China and internationally.
Philanthropy
Shi contributed funds to support a renewable energy research center at the University of NSW in Australia. According to Australian Greens Senator Christine Milne, this donation was motivated by perceived insufficient government funding for renewable energy initiatives.
External links
- 1963 births
- Living people
- 21st-century Chinese businesspeople
- Australian chief executives
- Australian company founders
- Australian energy industry businesspeople
- Billionaires from Jiangsu
- Businesspeople from Jiangsu
- Changchun University of Science and Technology alumni
- Chinese chief executives
- Chinese company founders
- Chinese emigrants to Australia
- Chinese energy industry businesspeople
- Fellows of the Australian Academy of Technological Sciences and Engineering
- Identical twins
- Naturalised citizens of Australia
- People associated with solar power
- People from Zhenjiang
- Renewable energy commercialization
- Sustainability advocates
- Chinese twins
- University of New South Wales alumni