DONGYING, China, Nov. 19 /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 long-term strategic partnership sales agreement with STAND-BY Europe, a well-known Czech Project development and distribution company. The agreement was signed in conjunction with STAND-BY Europe's recent October 15-16, 2009 visit to a CNPV facility along with CTP invest, Reiffeisen Bank and Lumen Engineering Company.
Under the terms of this strategic agreement, CNPV will supply STAND-BY Europe with a total of 100MWp of PV Modules from 2009 to 2012, which includes 5MWp of scheduled delivery during Q42009 at fixed prices. The remaining 25MWp, 30MWp and 40MWp are scheduled for delivery in 2010, 2011 and 2012 respectively. However the price will be reviewed mutually on a quarterly basis if the market price falls or rises with reference to the fixed prices.
"We are very pleased to announce this new strategic partnership with STAND-BY Europe, to further strengthen the existing well established partnership with STAND-BY Europe. Our strategic partnership with STAND-BY Europe is a significant success for us in aligning ourselves with a proven multiregional energy developer with growing opportunities in established and emerging photovoltaic markets. This new contract will significantly help to grow new projects in markets such as the Czech Republic, Slovakia and other eastern European solar markets," stated Mr. Zhang Shunfu, CNPV's CEO and B. Veerraju Chaudary, CNPV's COO, CTO & Member of the Board. "We look forward to continuing to expanding our relationship with our loyal strategic partner STAND-BY Europe by providing high quality modules, premium service and a low cost industry leading platform."
"STAND-BY Europe is proud of this new strategic sales agreement with CNPV. We consider this as a continuation of our good relationship with CNPV to bring their high quality modules and premium service to our customers across the Czech Republic and Eastern Europe," commented Mr. Vaclav Prihoda, MD, Mr. Jan Buric, MD, Jan Matusik, Sales Director, and Mr. David Carr, China Regional Director of STAND-BY Europe.
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. For further information, please visit CNPV's website at http://www.cnpv-power.com .
About STAND-BY Europe s.r.o
STAND-BY Europe executives have been active in the electronics industry for more than one decade and entered into the solar photovoltaic industry more than three years ago. STAND-BY Europe, a project developer and distribution company, is the result of constantly growing demand for renewable energy. STAND-BY Europe offers the end user services of design, project development and installation of PV Systems with the support and partnership of well-known Lumen Engineering Company, using high-quality Photovoltaic Modules from the well-recognized manufacturer CNPV. For further information, please visit STAND-BY Europe's website at http://www.standby-europe.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:
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