LUXEMBOURG and DONGYING, China, Sept. 27, 2011 /PRNewswire-Asia/ -- CNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and a leading integrated manufacturer of solar photovoltaic products, announced today that they have signed a Master Distribution Agreement for Residential and Commercial installations with Solar Solutions and Distribution LLC of Denver, Colorado.
Under the terms of this strategic agreement, CNPV will supply Solar Solutions with a total of 100MWp of high performance PV Modules from 2011 to 2013, which includes 10MWp of scheduled delivery during 2011. The remaining 40MWp and 50MWp are scheduled for delivery in 2012 and 2013 respectively. This agreement has within its terms an aggressive detailed program of expansion that will lead to considerable increases on the initially stated volumes. Specifically created to provide coast to coast, instant response and 24 hour delivery, the Solar Solutions infrastructure and affiliated regional partners anticipate extensive further market penetration within their existing customer base of residential and commercial consumers.
As Jesse Stubbs, President and CEO of Solar Solutions was quick to point out, "Our business strategy has always been to provide the best value, service and quality, allowing us to cross sell between each of our channels. Our historical success in electrical and engineering installation supplies, and our associate network, allows us to capitalize further on the solar program with our loyal and diverse clientele. Our solar products sales growth to date has been ahead of the market. With CNPV, we believe that this rate of growth will now increase dramatically, based on the higher harvesting density, and the technical competence that underscores the products design, superior performance and longevity. Our collective initiative to provide 'joint' market development is fundamentally aligned to our existing business model, and therefore naturally integrates into our way of working with little or no disruption and only major positive benefits."
Bypina Veerraju Chaudary, CNPV's COO&CTO contributed similar comments: "Management effectiveness; our two Companies' alignment to develop the consumer solar PV market allows both organizations to play to their strengths without massive disruption or extended learning periods. This allows for faster, deeper, wider market penetration and brand development, that are not only strategically required, but allows exponential growth as the existing sales channels are broadened. We share with Solar Solutions the strategic goal of acquiring and retaining repeat growing customers, and are delighted that our solutions to the solar PV market fulfill this requirement when evaluated by an experienced provider."
The roll out program for the aforementioned market development is underway, with the North American patrons able to access the cost effective solutions in the coming weeks.
From Left: Bypina Veerraju Chaudary (COO and CTO, CNPV), Mr. Jesse Stubbs (CEO, Solar Solutions)
CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Solar Power Company Limited, is a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules. CNPV designs, manufactures and supplies highly efficient and cost effective crystalline solar photovoltaic modules. Reliability & longevity are built into our world-class crystalline solar photovoltaic modules, which undergo rigorous internal tests and external certifications (IEC61215, IEC61730, UL1703, and CE) to ensure peak performance and safety. For further information, visit CNPV's website at http://www.cnpv-power.com
About Solar Solutions and Distribution LLC.
Solar Solutions & Distribution, LLC is a master distributor of quality solar equipment, with a powerful network of affiliated distributors across North America. Solar Solutions is the go-to distributor for the very best brands. Our new 67,000 square foot warehouse is fully stocked, enabling fast delivery to keep clients' projects on schedule. See Solar Solutions’ website for more information: http://www.SolDist.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, CNPV's ability to raise additional capital to finance its activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Euronext in Paris. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact:
CNPV Solar Power SA
Bypina Veerraju Chaudary, COO&CTO
Bill Milewski, VP-Investor Relations,
Solar Solutions and Distribution LLC.
Jesse Stubbs, President&CEO.
Phone: +1-303-948-6300, Extn. : 20
2500 West 5th Avenue, Denver, CO 80204
SOURCE: CNPV Solar Power SA and Solar Solutions and Distribution LLC.