LUXEMBOURG and DONGYING, China, Jan. 30, 2012 /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, today announced external confirmation of significant European content within their polycrystalline modules, qualifying them for an additional 10% premium on the Italian feed in tariffs.
Mr. Bypina Veerraju Chaudary, CNPV's COO & CTO qualified the position in more detail, "The updated Conto Energia IV feed-in tariff (FiT) policy, allows for a premium FiT payment for 'Made in Europe' modules. This clear positive payment differential has a significant financial impact for our customers. Many of our component elements are of European origin, as a result of our technical performance and quality criteria selection processes; this in part contributes to our validated competitive benefits when observing power harvested and value in use. The amended Italian FiT policy ascribes the 10% premium payment when the EU made components constitute at least 60% of the cost of the PV system. It was therefore a matter of obtaining a confirming certificate for us to attain the 'Made in EU' insignia. It is particularly exciting when our decisions, such as raw material selection for technical superiority, can then provide further unforeseen external commercial benefits to our customers."
The raw material and component testing was carried out in this case by the Institute of Industrial Certification for Mechanics (ICIM). While the period of testing was controlled by the extent and depth of the investigation into each element of the supply chain, the qualification for the premium is effective immediately.
Back to CNPV's COO & CTO; "The successes CNPV continues to yield in both emerging and established global solar markets are the results of our ongoing commitment to meeting the varying needs of regional customers. Achieving 'Made in EU' status is an additional vital component to earning the lasting trust of customers in Italy and throughout Europe, as well as supporting European suppliers who provide the technical superiority that we encompass. Utilising this approach, our customers can have it all; techno-commercial advantages, support of local industry and the luxury of a premium payment on higher harvest numbers."
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, UL, and CE) to ensure peak performance and safety. For further information, please visit CNPV's website at http://www.cnpv-power.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, Chief Operating Officer
Scott Zhang, Manager-IR
SOURCE: CNPV Solar Power SA