LUXEMBOURG/DONGYING, China, Jan 11, 2010 /PRNewswire-Asia/-- CNPV Solar Power SA, a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules that designs, manufactures and supplies highly efficient and cost effective crystalline solar photovoltaic modules, today announced the completion & inauguration of 2.0MWp and 1.1MWp Solar Photovoltaic ground mounted systems in the Czech Republic developed by Stand-By Europe at the end of December, 2009.
The ground mounted solar systems were built for individual investors in the Czech Republic, locations Kosorin (2.0MWp) & Malsice Cenkov (1.1MWp) and financed by Unicredit Leasing and Volksbank respectively. The installation has been completed with solar modules supplied by CNPV under a previously announced sales agreement between the Company and strategic partner Stand-By Europe, Czech Republic. The solar systems are fully operational from December 2009 and represent an investment of 11million euro. These 3.1MWp PV systems will produce 2,759 MW/h per year, which equals the electric consumption of almost 1100 homes and will prevent 3,159,055 tons of CO2 emissions to the atmosphere.
"We are very pleased to have supplied 3.10MWp of high-quality modules for these large PV plants that Stand-By Europe and Lumen installed in the Czech Republic, representing one of the special ground mounted PV power plants so far in the Czech Republic," stated jointly Mr. Zhang Shunfu, CEO and B. Veerraju Chaudary, CNPV's COO & CTO. "We are delighted to strengthen our business relationship with one of our key strategic partners Stand-By Europe, with whom we expect to continue to work closely in the future, not only in the Czech Republic but also in other eastern European countries as business expands.''
Mr. Vaclav Prihoda and Mr. Jan Buric, Managing Directors of Stand-By Europe, and Mr. Tomas Novak, Managing Director of Lumen Engineering stated, "We are delighted to partner with CNPV to complete these significant projects using CNPV's high quality premium performance modules and excellent customer service. The fulfillment of these projects once again demonstrates the knowhow and experience of Stand-By Europe & Lumen Engineering in the realization of industrial scale projects in the field of photovoltaic installations."
Stand-By Europe & Lumen Engineering hosted a one-day opening celebration onsite near Prague. The event was attended by numerous officials, customers and suppliers, including management members from CNPV.
CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Photovoltaic 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 that 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
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 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,
Jane Liu, Senior Manager- Investor Relations & Financing
Direct Land Line: +86-546-7795078
SOURCE: CNPV Dongying Photovoltaic Power Company Limited