UPDATE 1-Suntech to develop 20 pct of China's solar rooftop plan

* Says completed 4 MW of approved projects

* Says to complete the remaining by mid-2010

Nov 13 (Reuters) - Chinese Solar panel maker Suntech Power Holdings Co Ltd (STP.N) said it expects to develop about 20 percent of the 91 megawatts of solar projects under China's solar rooftop program.

The solar rooftop program was launched in March to increase the efficiency of buildings through photovoltaic (PV) solar systems.

Suntech said 111 solar projects totalling 91 megawatts (MW) across China were approved to receive funds through the program.

The Chinese government had said solar projects larger than 50 kilowatts of output will be eligible for a subsidy of about $2.90 per watt.

Suntech said the PV system owners are expected to get a rebate of 13 to 17 yuan per watt for projects. The company added that it will also participate as a system owner or partial investor in some of the projects.

"Suntech has completed 4 MW of its approved projects and plans to develop the remainder by mid-2010, it said in a statement.

Suntech shares closed at $12.82 Thursday on the New York Stock Exchange.

For the alerts, double click [ID:nWNAB5522] ($1=6.826 Yuan) (Reporting by Arup Roychoudhury in Bangalore; Editing by Gopakumar Warrier)