DONGYING, China, November 27/PRNewswire-Asia/ -- CNPV, a leading multi product solar company that produces ingots, wafers, cells & solar modules, and has strong presence in the solar photovoltaic space that designs, manufactures and supplies highly efficient and cost effective crystalline solar photovoltaic modules, today announced that it has entered into a sales agreement with Solar Energy Trading GmbH Germany.
Under terms of the three-year long term agreement, CNPV will supply SET with a total of 50MWp of PV Modules starting in 2008, which includes 7.50MWp to 10MWp of scheduled delivery from December 2008 to December 2009 at fixed prices. However the price will be reviewed mutually on quarterly basis if the market price falls or rises with reference to the fixed prices. The remaining 15MWp and 25MWp scheduled delivery during 2010 and 2011 respectively.
"We are very pleased to have entered into this sales agreement with SET, a well recognized Installer & distributor in Germany who is committed to investments in new power sources from environmentally-friendly technologies," stated Zhang Shunfu, CNPV’s CEO & B.Veerraju Chaudary, CNPV’s COO, CTO & Member of the Board. "We look forward to building our long term relationship with SET GmbH as we further our sales and brand recognition in the German market."
Germany's current regulations and PV installations confirm it as one of the most leading & attractive growth markets in the solar PV industry."We are very pleased to sign this agreement with CNPV. The new contract adds products to our portfolio that becomes day by day larger and more diversified," says Mr. Helmut Schwarzer, Managing Director, Mr. Juergen Klaas, GM and Ms.Narjiss Conrads, COO of SET GmbH.
China Solar Photovoltaic SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Photovoltaic Power Company Limited, is a leading multi product solar company that produces ingots, wafers, cells & solar modules, and has strong presence in the solar photovoltaic space that designs, manufactures and supplies highly efficient and cost effective terrestrial 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. CNPV uses state-of-the-art technology to offer high quality, innovative crystalline solar photovoltaic solutions that cater to the needs of individual customers, large institutions as well as entire communities' worldwide. For further information, please visit CNPV's website at http://www.cnpv-power.com
About SET GmbH
Solar Energy Trading GmbH is active in the solar industry more than 10years. SET is the line-trading company is resulted from the constantly growing demand of renewable energies, on whose selling we are specialized. SET offer services of Photovoltaic solar power plants and modern, energy-saving system engineering to the end user. SET supply high-quality Photovoltaic Modules of noted manufacturers of CNPV. When we chose our suppliers on a national and international level, we put emphasis on their reliability, stability and on innovative technologies. This is why we are in a position to offer you a broad range of high-performance products that are always state-of-the-art and meet forward-looking requirements thanks to our strategic partner CNPV. SET is your reliable partner for innovative and individual solutions of the solar energy technology. Partnership in co-operation is our basis for common success. We pay particular attention to grid-connected PV systems of just a few KWp to several MWp as well as to installations in the island area. SET is competent, quick and flexible.
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:
COO, CTO & Member of the Board
Direct Land Line: +86-546-7795053,
Jane Liu, Senior Manager- Investor Relations & Financing
Direct Land Line: +86-546-7795078
SOURCE: CNPV Dongying Photovoltaic Power Company Limited