LUXEMBOURG/DONGYING, PR China, August 18, 2010 /PRNewswire-Asia/--CNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and a leading integrated manufacturer of solar photovoltaic products, today announced that it has entered into a long-term strategic partnership agreement with Tamrag Power, a leading Nepal and Bangladesh project developer and supplier of renewable energy products, with over 20 years’ experience in the renewable energy sector.
Under the terms of this strategic agreement, CNPV will supply Tamrag Power with a total of 30MWp of high performance PV Modules from 2010 to 2012, which includes 5MWp of scheduled delivery during 2010. The remaining 10MWp and 15MWp are scheduled for delivery in 2011 and 2012 respectively.
"Tamrag Power have demonstrated their capability repeatedly," said Mr. B. Veerraju Chaudary, CNPV's COO, CTO & Member of the Board. "Their strategic vision, customer focus, attention to detail and their overriding quality of operation has seen them grow and succeed in a highly competitive market. The recent amalgamation of their highly effective organisations in Nepal and Bangladesh, and now the addition of our own local support functions, provides now provides a unified approach to the provision of high quality solutions in this region, and makes Tamrag Power and CNPV together, even more assured of further success."
Mr.Zhang Shunfu, CNPV’s CEO, was delighted by the news of this development, "The choice of CNPV as Tamrag Power’s exclusive strategic partner makes us extremely proud. It further acknowledges our own endeavours are adding value to our customer’s goals, and gives us the opportunity to develop our Company and services further. It is only by working with credible, key industry players that we are able to rapidly responding efficiently to the dynamics of the market. Together with Tamrag Power we can continue to anticipate and provide the solutions that other solar companies omit."
"We are driven to be the best," iterated Mr Rajesh Chaudhary, Tamrag Power Groups President and CEO, "Our strategy has always been about our actions rather than our words. We expect the finest of our people and our suppliers and we ensure that we deliver a preeminent service. CNPV, emulate our vision of business excellence and are a natural fit for our future."
Mr. Shah MD. Sazzad Hossain and Mr. Dipan Raghubanshi managing partners of Tamrag group summed up the alignment of the Companies well, "CNPV’s quality of service and provision of added value services made them the singular choice for us. Their range of high quality modules, priced correctly, has a diversity to satisfy all of our customers’ requirements. Their ability to provide leading edge technology has been exemplary. Outperforming all other systems and Companies, we are delighted with our choice and look forward to further developing the market, and providing new solutions together."
Dipan Raghubanshi (Tamrag Power, Director), Rajesh Chaudhary (President and CEO Tamrag Power), B.Veerraju Chaudary (COO, CTO & Member of the Board CNPV)
CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Solar 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 Tamrag Power Solutions Group
Tamrag Power is one of Nepal and Bangladesh’s leading suppliers of renewable energy products, with over 20 years’ experience in the renewable energy market. Tamrag Power has built its reputation on supplying the most reliable, proven range of products on the market and only associates itself with quality products. Tamrag Power has the capability and track record to accommodate the markets ever increasing desire to become green. For further information, please visit Tamrag Power website at: http://www.tamraggroup.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:
CNPV Solar Power SA
B.Veerraju Chaudary, COO, CTO & Member of the Board
Direct Land Line: +86-546-7795053,
Tamrag Power Solutions Group
Mr. Rajesh Chaudhary, President and CEO
House No: 138/25, Lamtangi Marga, Chundevi,
Post Box No: 23163, Kathmandu, Nepal
Tel: +977-14431606/4436511, Fax: +61-39763 0577
Tamrag Power Solutions Group-Bangladesh
Mr. Shah MD. Sazzad Hossain, Director
House No: 353, Ground Floor, Road No: 27,
New D.O.H.S, Mohakhali, Dhaka-1206, Bangladesh
Tel: +880-29887721, Fax: +880-28850743
CNPV Solar Power SA
Jane Liu, Director-Investor Relations & Financing
Direct Land Line: +86-546-7795078
SOURCE: CNPV Solar Power SA and Tamrag Power Group