LUXEMBOURG/DONGYING, PR China, March 22, 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 that it has entered into a long-term strategic partnership sales agreement with CTS Solar GmbH, a south-German leading photovoltaic company in roof top and ground-based power plants project development, installation and distribution company.
Under the terms of this strategic agreement, CNPV will supply CTS Solar with a total of 21MWp of PV Modules from 2010 to 2012, which includes 5MWp of scheduled delivery during 2010. The remaining 6MWp and 10MWp are scheduled for delivery in 2011 and 2012 respectively.
"We are very pleased to announce this new strategic partnership with CTS Solar, to further strengthen the existing well established partnership. Our strategic partnership with CTS Solar 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 German and Austrian solar markets," stated jointly 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 one of our loyal strategic partners CTS Solar by providing high quality modules, premium service and a low cost industry leading platform."
CTS Solar GmbH from South Germany is proud of this new strategic sales agreement with CNPV. We consider this as a continuation of our good relationship with CNPV to use their high quality modules in our projects and to offer their premium service to our customers in Germany and Austria," commented jointly Mr. Clause Romankiewicz, CEO and Mr. Eric Lechelt, Sales Director of CTS Solar.
Clause Romankiewicz (CEO CTS Solar), B. Veerraju Chaudary (COO, CTO & Member of the Board CNPV), Eric Lechelt (Director Sales CTS Solar)
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 CTS Solar GmbH
CTS Solar GmbH is a well respected south-western German Solar Photovoltaic Power Company in roof top and ground -based power plants project development, installation and distribution. CTS Solar has been active in the German solar power industry since 2000. The company is today among the south-western German market one of the leading companies in the sector. CTS Solar has achieved continuous growth in recent years and today enjoys considerable experience in national projects. For further information, please visit CTS Solar GmbH website at: http://www.cts-solar.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 Solar Power SA and CTS Solar GmbH