DONGYING, China, January 05/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 Edison Power Europe, Yellow Hat a Swiss Company.
Under terms of this long term agreement, a total of 4-6megawatts (MWp) of PV modules starting in January 2009 to December 2009.However the price will be reviewed mutually on quarterly basis if the market price falls or rises with reference to the fixed prices.
"We are very pleased to have entered into this sales agreement with Yellow Hat, a well recognized finances procures and operates solar power plants in Europe (Swiss) who is committed to investments in new power sources from environmentally-friendly technologies," stated Zhang Shunfu, CNPV’s CEO and B.Veerraju Chaudary, CNPV’s COO, CTO & Member of the Board. "We look forward to building our long term relationship with Edison Power Europe AG, Yellow Hat as we further our sales and brand recognition in the European market." "Given the cost advantage and quality control capability of our vertically integrated business model, we can provide reliable and high quality products at a reasonable and competitive price, in line with our strategy to continually enhance the value that we provide to our customers. We believe this will lead to a broader and deeper penetration of our products and brand awareness worldwide."
"We are pleased to have CNPV as one of our key suppliers," said Andreas Fankhauser, GM and Mr. Robert Kröni, CEO of Yellow Hat, Edisun Power Europe AG. "We aim to provide our customers maximum value with our products and services. Cooperating with top tier suppliers like CNPV is one of our principal strategies for achieving these goals in order to secure customers on a long-term basis."
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 Edisun Power Europe AG, Yellow Hat
The Swiss company Edisun Power Europe AG finances procures and operates solar power plants in Europe. Edisun Power Europe emerged from the company Edisun Power, which has been successfully implementing solar power projects in Switzerland since 1997 (e.g. the solar power projects “Technopark 1-3” in Zurich, “Purification plant ERZ 1+2” and “Tramonthalle” in Zurich. Edisun Power Europe AG develops and operates photovoltaic plants in Europe. This company has a lean organizational structure and has been active since 1997 in countries where remuneration schemes for electricity fed into the mains grid cover costs. Edisun Power, which specializes in the niche market of medium-sized plants, currently has projects in Switzerland, France and Spain. New Energies Invest has invested CHF 2 million in the context of an ongoing capital raising exercise and now has a 12.46% holding in the company. Edisun Power Europe AG is currently engaged in projects in Andalusia, Spain (El Tesero and Trujillo with a total of 1.1 MW each, as well as Valle Hermoso 2.2 MW, Alcala 1.8 MW, Manzanares 1 MW). Alongside the Spanish and Italian markets, the company plans to move into the French market and other countries. For the current year, Edison Power Europe is aiming to construct plants with a total annual installed power capacity of 10MWp.
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,
Senior Manager- Investor Relations & Financing
Direct Land Line: +86-546-7795078
SOURCE: CNPV Dongying Photovoltaic Power Company Limited